zkSync: How to help Ethereum achieve NFT expansion

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In the first speech, two guests Alex Gluchowski and Angela Lu from the top expansion team Matter Labs (zkSync) brought us a wonderful sharing on "How to help Ethereum achieve NFT expansion". Angela Lu judged in her speech that NFT will not go to other Layer 1, but will continue to develop within the Ethereum ecosystem, because the current innovation on NFT still occurs on Ethereum.

The following is the speech record of Alex Gluchowski and Angela Lu, organized by Odaily:

Matter Labs co-founder Alex Gluchowski:

Hi, I'm Alex Gluchowski, co-founder of Matter Labs, and we're building zkSync, the first EVM-compatible zkRollup solution.

It's a great pleasure to be able to participate in Odaily's activities, our Chinese community has always been one of our strongest and most active communities, and we really appreciate Chinese users for supporting us.

Today, we’ll discuss the rise of NFTs, how they scale on top of zkSync, and what this means for the wider Ethereum ecosystem. Next, please tune in to our presentation by Angela, our Product Manager, as she explains how NFTs scale on zkSync.

Angela Lu, product manager of zkSync:

Hello everyone, I am Angela Lu from zkSync, and I am very happy to share with you through Odaily today.

Let's first talk about what zkSync is. For many years, the industry has been studying how to expand Ethereum, and zkSync is a solution for expanding Ethereum.

The so-called expansion of Ethereum actually refers to two events, one is to expand computing power (Computation), and the other is to expand data availability (Data Availability). The expansion of computing power depends on Rollups, and the expansion of data availability depends on data sharding (Data Sharding).

There are two types of Rollups, one is Optimsitc Rollup and the other is ZK Rollup. As can be seen from the name, zkSync chooses the ZK Rollup scheme. This solution has many advantages: first, it can achieve greater expansion; second, it can retain all the security of the Ethereum Layer 1 network while expanding; Wait a week like Optimsitc Rollup. These three layers of advantages make ZK Rollup + data sharding the optimal solution for Ethereum expansion in the long run.

From the perspective of development history, zkSync launched the payment function in June 2020; a few months ago, we launched Swaps and NFTs related functions; however, we still do not have smart contracts for the time being, but the test network is about to come out. There will be.

video playbackvideo playbackwalletwallet(Wallet) interface, use Metamask to complete the link. As you can see, the current gas price of the Ethereum mainnet is about 70 gwei, but it only takes 2 yuan to complete the casting of an NFT on zkSync.

Some friends may not know what Content Hash is. If not, we can go to the zknft.xyz website, which is a project built by the community. After entering, you can click Mint first, then link the wallet, and enter the relevant information to make NFT by yourself.

Friends who are familiar with us may know that zkSync 2.0 is not far away from going online. Some users who have stored NFTs on the zkSync 1.x network have nothing to worry about, as it will automatically transfer to the 2.0 network.

Compared with the previous version, the biggest breakthrough of zkSync 2.0 is that it is compatible with EVM (EVM-Compatible). The code written by developers on the first layer of the network can be directly moved from zkSync to zkSync without having to learn anything else.

The second breakthrough is zkPorter. We believe that even with Rollup, Ethereum is too expensive to operate. As I just said, Ethereum expansion requires two things. The second point of expansion "data availability" is that Ethereum needs to do data sharding itself, but this still needs to wait for two to three years. We didn't want to wait so long, so we built zkPorter ourselves, using the zkSync network to protect data availability, and thus achieved transactions with an average cost of only 1-3 cents.

The combination of these two points is the breakthrough significance of zkSync 2.0, which can meet the different needs of different users. Users who pay more attention to security can put themselves on zkRollup, and users who care more about transaction costs can put their funds on zkPorter.

Next, let's talk about the relationship between NFT and zkSync in the future. First of all, we need to talk about why NFT will not go to other Layer1, but will continue to develop within the Ethereum ecosystem. At present, there is a fairly complete NFT ecosystem in the Ethereum ecosystem. We have Opensea, Foundation, and Art Blocks. The LP token of Uniswap V3 is NFT, and ENS itself is also an NFT... What I want to say is that the NFT Ideas are still on Ethereum, and new ideas are still emerging recently. For example, Fractional, which is doing NFT splitting, just received $7.9 million in financing.

In addition, the combination of NFT and DeFi also has great development prospects. For example, the LP NFT of Uniswap V3 can be deposited in Ironbank as collateral, and a certain loan amount can be obtained.

Finally, the user education of Ethereum is quite mature. Everyone stays in the Ethereum ecosystem and does not need to learn anything new.

The expansion of Ethereum requires Layer 2, and zkSync is the future Layer 2 solution. We now have zkRollup, 2 dollars can mint an NFT, if you think 2 dollars is still too expensive, for example, you need to use it in high-frequency scenarios such as games, then you can choose to use zkPorter, the cost of a single transaction is only 1 -3 points. This is what zkSync can do for the Ethereum NFT ecosystem.

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