zkSync’s Road to Mass Adoption: The Ecosystem is Still in its Early Stages with Many Variables in the Future

The Future of zkSync: Early Ecosystem, Many Variables, Mass Adoption Ahead

After only 2 months since its launch, the zkSync ERA wallet has already surpassed 680,000 independent addresses, and the total TVL of the ecosystem has reached 338 million US dollars, ranking fourth in Layer2. How is the zkSync ecosystem progressing? What unknown variables still exist in the decentralization process? Cryptocurrency researcher Haotian summarized his views on the direction and challenges of zkSync’s future development.

While Zk-Rollup may aspire to be the leader in mass adoption, it currently needs to consider how not to fall behind Arbitrum. This can be seen in: 1) the need for stronger fundraising ability and further improvement in lock-up values and yield rates; 2) the untapped innovative advantages of zk technology at the underlying level; and 3) the lack of sufficient diversity and innovation in the zkSync ecosystem.

Overall, the development of the zkSync ecosystem is impressive, but it is still in the early alpha stage, and market sentiment is clearly too optimistic. Potential unknown variables that I have observed include: the issue of future Sequencer POS privileges; the excessive control of decentralized validators by MatterLabs; and the instability of dynamic underlying rates and the problem of open-sourcing Plonk contracts.

Finally, let’s talk about the zkSync fee issue that has caused extreme confusion, especially the significant differences in interaction fees and failure rates between different projects. This is essentially a compatibility issue between smart contracts and the underlying zk technology. If the contract code logic is too complex, and the optimization of data structures and Plonk circuit algorithms is not well-done, there will be instability problems. This is bound to become an obstacle for developers to join the ecosystem and will probably take time to digest.

Reference: https://twitter.com/tmel0211/status/1663034763832344576

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