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zkSync Era (ZK)

What is the zkSync Era Blockchain?​

Here are 5 key points about the zkSync Era Blockchain:

  • Zero-Knowledge Rollups: zkSync Era employs zero-knowledge rollup technology to enhance scalability and reduce transaction costs. By bundling multiple transactions off-chain and submitting them to Ethereum with validity proofs, zkSync Era ensures faster and cheaper transactions while maintaining the security of the Ethereum network.

  • EVM Compatibility: zkSync Era is fully compatible with Ethereum's Virtual Machine (EVM), allowing developers to deploy existing Ethereum dApps with minimal modifications. This compatibility facilitates seamless migration and interaction between zkSync Era and Ethereum, leveraging the same tools, libraries, and languages.

  • Account Abstraction and Paymasters: The platform introduces advanced features like account abstraction and paymasters, which simplify user interactions and enhance network performance. Account abstraction allows for more flexible and complex transaction execution, while paymasters enable fee payments in ERC20 tokens, making transactions more accessible and user-friendly.

  • High Throughput and Low Latency: zkSync Era is designed to handle a high volume of transactions with a peak load capacity of up to 2,000 transactions per second (TPS). This significantly improves transaction speed and efficiency, alleviating congestion on the Ethereum network.

  • Interoperability with ZK Chains: zkSync Era supports a network of interconnected ZK Chains, enabling efficient cross-chain communication and interoperability. This setup allows for the seamless transfer of assets and information across different chains, enhancing the scalability and utility of the blockchain ecosystem.

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Learn more about the zkSync Era Blockchain by reading the Gem Wallet Learn article:
What Is The zkSync Blockchain?

zkSync Era on Gem Wallet​

Gem Wallet has the following features enabled for ZK:

ZK on GEM WalletSwap ZK on GEM Wallet

What are zkSync Era ERC20 tokens?​

  • ERC20 tokens are a type of digital assets issued via smart contracts on the Ethereum network.
  • zkSync Era supports the transfer and interoperability of ERC20 tokens from the Ethereum network to the zkSync Era network. zkSync Era itself does not have its own native ERC20 tokens.
  • They allows users to access a wide range of ERC20 tokens and decentralized applications (dApps) on zkSync Era while benefiting from its scalability and low transaction fees.

ZK ETH on GEM WalletZK ERC20 Tokens on GEM Wallet

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Learn more about ERC20 tokens from this Gem Wallet Learn article: What Is ERC20 and What You Need to Know About Tokens on the Ethereum Blockchain

How to Get zkSync Era and zkSync Era ETH?​

Here are some ways to acquire some zkSync (ZK) and zkSync Ethereum (ETH):

  • Buy zkSync Era (ZK) and ZK Ethereum (ETH) directly on the Gem Wallet app. (TBA)
  • Receive ZK and ZK ETH with the unique zkSync Era address on the Gem Wallet app.
  • Swap ERC20 tokens to ZK ETH. This requires that you already have ZK ETH on your wallet to pay for fees.

Receive ZK on GEM WalletReceive ZK ETH on GEM Wallet

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Send only zkSync (ZK) and zkSync Ethereum (ETH) to your zkSync Era address.

Transaction Fees on zkSync Era Network​

The fees on zkSync Era are summarized as follows:

  • zkSync Era offers significantly lower transaction fees compared to Ethereum. These fees are among the lowest compared to other Layer 2 solutions like Arbitrum and Optimism, making zkSync Era a cost-effective option for users​.
  • The zkSync Era achieves lower fees by processing multiple transactions off-chain and then submitting a single batch as a validity proof to the Ethereum mainnet.
  • Users conducting transactions on the zkSync Era network pay fees denominated in zkSync Ethereum (ETH).

Send ZK on GEM WalletZK Transaction on GEM Wallet

How to Check zkSync Era (ZK) Balance?​

Gem Wallet app connects to the zkSync Era Network to show the ZK balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on zkSync Era Block Explorer .

View Address Link to zkSync Era Explorer ZK Address on zkSync Era Explorer

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zkSync Era Block Explorer is the default ZK explorer of Gem Wallet. You can manually check balances and transactions by going to zkSync Era Block Explorer and search for your ZK address.

Why Choose Gem Wallet for zkSync Era?​

Here are three reasons why you should use Gem Wallet for your ZK tokens:

  • Enhanced Security: Gem Wallet employs robust security measures, including advanced encryption and secure key management, to protect your ZK tokens from unauthorized access and potential threats.

  • Open-Source Transparency: As an open-source wallet, Gem Wallet allows for community review and audits of its code. This transparency ensures that there are no hidden vulnerabilities and builds trust among users.

  • Multi-Currency Support: Gem Wallet supports a wide range of cryptocurrencies, including ZK tokens. This multi-currency support allows users to manage various assets in one secure and convenient platform.