We’re thrilled to announce that Kraken now supports deposits and withdrawals of Ethereum (ETH) on zkSync Era!
What is zkSync Era?
zkSync Era is an Ethereum virtual machine-compatible Layer-2 rollup protocol by Matter Labs. Formerly known as zkSync 2.0, the project rebranded to zkSync Era in February, 2023. ZkSync Era employs zero knowledge (ZK) rollups to significantly improve Ethereum’s transaction throughput capabilities and lower fees.
Era ZK rollups work by batching together transactions and verifying their validity off-chain (separate from Ethereum’s blockchain). An operator produces a single cryptographic proof, known as a succinct non-interactive argument of knowledge (SNARK), for the block of transactions and submits it on-chain to the Ethereum blockchain.
Unlike other Ethereum Layer-2 protocols, zkSync is EVM-compatible, meaning it can easily integrate with Ethereum’s existing ecosystem of projects and decentralized applications.
