According to ZKsync, the ZKsync Atlas update will provide nearly $0 costs, 15k+ TPS, and 1-second ZK finality. However, such figures don’t tell the whole story. L2s may now depend on Ethereum as the real-time institutional capital liquidity centre for the first time.
Praise from Vitalik
Vitalik wrote, “ZKsync has been doing a lot of underrated and valuable work in the Ethereum ecosystem. Excited to see this come from them!”
Before Atlas, all L2 ecosystems had to establish a central hub for liquidity, such as Base, Arbitrum One, or ZKsync Era.
Replicating liquidity and relying on that internal pool was the only viable option, particularly for optimistic rollups, where interaction between L1 and L2 can take up to seven days to conclude.
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This is no longer required with Atlas. ZKsync-based chains may now directly use Ethereum’s liquidity. Although they are no longer required general-purpose liquidity engines, specialised hubs and app-chains will still be developed. Rather than needing to replicate Ethereum’s liquidity, they improve it.
Ethereum as the Capital Hub
The L2/L1 dynamics are entirely altered by this. Liquidity for ZKsync chains is made available in real time at institutional settlement standards for all Ethereum-anchored tokens and markets.
In this way, ZKsync transitions from being a separate island to a true extension of Ethereum’s financial settlement layer. Atlas expands Ethereum liquidity into the elastic network of ZK chains intended for incorruptible real-world finance and eliminates the liquidity barrier between L1 and L2 for significant money.
Other developments
ZKsync said that Prividium provides a full range of capabilities, such as Ethereum-layer security anchoring, permission management, and privacy protection.
Additionally, in April, Alex Gluchowski, CEO of Matter Labs and founder of ZKsync, openly addressed a recent security breach that alarmed the cryptocurrency community.
Gluchowski assured users in a social media post that no source code, smart contracts, or private operator keys had been compromised.
The massive in February Swiss bank UBS has revealed that it has tested its UBS Key4 Gold product on Ethereum’s Layer-2 network, ZKSync.
According to the $5.7 trillion asset management firm, the project’s objective is to look into potential privacy and scaling solutions. The move coincides with an increasing number of financial systems integrating blockchain and cryptocurrency.
Also Read: ZKsync and Matter Labs Confirm Their X Accounts Are Still Under Hacker Control and Caution Users