Ethereum

Token

Matter Labs has unveiled an ambitious upgrade for their ZKsync network with the introduction of ZKsync 3.0, marking a significant leap towards enhancing blockchain interoperability. 
The cornerstone of this update is the v24 upgrade, launched on June 7, which transforms ZKsync into what they term an “Elastic Chain,” which is somewhat similar to rival <a href="https://www.cryptotimes.io/2024/01/24/agglayer-unveils-zk-magic-for-unity-in-polygon-2-0/" target="_blank" rel="noreferrer noopener">Polygon’s AggLayer</a>, launched earlier this year.&nbsp; 
This innovative concept integrates multiple chains within the ZKsync ecosystem into a cohesive unit that operates seamlessly like a single chain, promising a user experience that is both unified and intuitive. 
<a href="https://zksync.io/" target="_blank" rel="noreferrer noopener nofollow">The Elastic Chain</a> concept builds upon Matter Labs’ earlier ZK Stack toolkit, released last year, which allows developers to construct their blockchains using ZKsync technology.&nbsp; 
These custom chains are designed to interconnect through the Elastic Chain framework, forming what Matter Labs describes as an “infinitely extensible network of ZK chains.” This network includes rollups, validiums, and volitions, all secured by mathematical proofs, ensuring robust security while facilitating smooth interoperability. 
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Key components of this new architecture include the Native Token Vault and Shared Router, implemented as Ethereum smart contracts, which manage network states and facilitate chain registrations.&nbsp; 
The ZK Gateway is middleware bridging Ethereum to ZKsync’s ZK chains, enabling efficient interaction and transaction capability across the ecosystem. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/19/bitget-launches-zk-token-staking-on-its-poolx-platform/" target="_blank" rel="noreferrer noopener">Bitget Launches ZK Token Staking On its Poolx Platform</a> 
</blockquote>

ZKsync Launches ‘Elastic Chain’ to Compete with AggLayer

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