ZK Sync Elastic Chain
ZK Sync rebrands to Elastic Chain, introducing enhanced security and efficiency to tackle multichain challenges with a focus on scalability and user experience.
Blockchain scaling solutions are evolving with innovations from Polygon CDK, Arbitrum Orbit, and OP Superchain. Amidst these, ZK Sync has rebranded and provided fresh details about its growing network of interconnected chains.
Formerly known as Hyperchains, the network is now called the Elastic Chain, following a trademark issue and the ZKsync 3.0 network upgrade. This change addresses liquidity fragmentation and poor user experiences common in multichain ecosystems.
ZK rollups on the ZK Stack offer native, low-cost interoperability, says a ZK Sync blog post. Traditional multichain systems rely on third-party bridges, which can be insecure and costly. The Elastic Chain’s design focuses on cryptographic security and smooth interoperability to solve these issues.
The Elastic Chain name reflects the concept of elasticity, where supply adjusts to meet demand. Using recursive ZK proofs, it allows parallel proof generation and quick verification, regardless of computation size. This means the Elastic Chain can handle many transactions without increasing time or cost, making the system more efficient as transactions grow.
Posting transaction batches to Ethereum used to drive layer-2 fees. However, the introduction of blob storage in EIP-4844 has changed this significantly since March and April.
The Elastic Chain’s key components include the new ZK token. Initially, this token will govern the network, allowing holders to vote on upgrades and policies. While actual governance votes are not yet happening, ZK holders can delegate their votes.
Another key component is the ZK Gateway, which will settle transactions between ZK Stack chains more cheaply than on Ethereum. Managed by decentralized validators, the gateway aims to keep the network strong and reliable. Fees for bridging and state diff data could be paid in ZK tokens, though this isn’t explicitly stated.
The Elastic Chain aims to function like a single blockchain for users, using modular smart accounts with passkeys to maintain the same address and signature across chains. This should simplify user experiences and reduce the need for constant RPC switching and bridge uncertainty.
Compared to Polygon CDK and AggLayer, which also support shared interoperability, the Elastic Chain is set to achieve 180 transactions per second (TPS), versus Polygon's 5 TPS. This difference is like comparing a commercial airliner to a bicycle.
These solutions are not yet live, so their performance in real use is still unknown. For early Web3 users facing RPC switching and bridge delays, a smoother experience is highly anticipated.
In summary, ZK Sync’s Elastic Chain rebrand and upgrade aim to solve key multichain issues, offering better interoperability, security, and user experience. With the ZK token and innovative recursive proofs, the Elastic Chain is poised to be a significant player in the blockchain space.
