LoopRing

LoopRing is another ZK Rollup solution that is being used by multiple companies. This particular solution is a payment and exchange protocol. It also has a product called LoopRing Exchange & Mobile Wallet.

This technology also has its own token, $LRC. Users can use these tokens for payments and exchanges. Some of the companies that use LoopRing include the following:

  • Rails, which allows users to transfer all ERC20 tokens and ETH from their wallet to that of others within LoopRing L2
  • Golem
  • pNetwork

StarkWare

StarkWare is a ZK Rollup project that’s designed to improve privacy and scalability in blockchains that use STARK technology.

Zk-rollup projects list

ZK Rollup, which stands for a zero-knowledge rollup, is a type of Layer 2 Blockchain technology that offers storage off-chain and performs computations when funds are present in smart contracts. There are a few different types of ZK Rollup projects that are designed by specific companies for certain functions.
Thus, this article discusses some of these projects and the companies that use them.

List of ZK Rollup Projects

zkSync

zkSync is a ZK Rollup project created by Matter Labs. This project is a secure, trustless (meaning that you don’t have to involve or trust a third party), user-centric protocol that’s used to scale smart contracts and payments on Ethereum.
Its’ product is the zkWallet. Some companies that use zkSync include Golem, Balancer, GitCoin, Argent, Curve, etc.

Polygon Hermez

Polygon Hermez is an EVM-compatible ZK Rollup solution designed to provide fast and safe transfers of ERC20 tokens. This open-source ZK Rollup project is particularly unique due to its protocol titled “proof of donation.” With this protocol, 40% of winning bids are returned as donations for reinvestment purposes.

A growth of 116% in twelve months and a market value of over $124 million for its native token $HEZ is an indicator of how successful this project has become.

Optimism

Optimism is an extremely cost-effective and fast alternative to transactions of Ethereum. Many Ethereum dApps are using Optimism to improve speeds and reduce costs.

Connext is one company that’s using Optimism for the Ethereum network.

Zk-rollup projects list advancedsearch

LoopRing

LoopRing is another ZK Rollup solution that is being used by multiple companies. This particular solution is a payment and exchange protocol.
It also has a product called LoopRing Exchange & Mobile Wallet.

This technology also has its own token, $LRC. Users can use these tokens for payments and exchanges.
Some of the companies that use LoopRing include the following:

  • Rails, which allows users to transfer all ERC20 tokens and ETH from their wallet to that of others within LoopRing L2
  • Golem
  • pNetwork

StarkWare

StarkWare is a ZK Rollup project that’s designed to improve privacy and scalability in blockchains that use STARK technology.

Zk-rollup projects lista

Thus, it provides zero-knowledge cryptographic proofs that are also transparent (i.e., they don’t require a trusted setup), succinct, and post-quantum secure.

StarkNet

StarkNet is Layer 2 product by StarkWare that was created to eliminate the scaling problem with Ethereum, reducing high transaction costs. This technology is relatively new, but it has shown promising in marring the security that comes with Ethereum and the need for reduced fees.

StarkNet was deployed on an Ethereum-run market for crypto derivatives, dYdX.

Aztec

Aztec is a Layer 2 network that also brings privacy and scalability to Ethereum. This project uses zkSNARK proofs for the scaling and privacy features.

It is an open-source platform.

Zk-rollup projects listagg

We believe this is in a way a historical moment since this will be (to the best of our knowledge) the first full-blown merger of two blockchain networks,” said Polygon.

What are ZK-Rollups ?

ZK-Rollups are a type of blockchain scaling technology that helps aggregate and push batches of transactions onto a network. Computation happens on an outside network that executes the transactions and generates validity proofs for these transactions.

These proofs are ultimately merged in the original blockchain.

This solution decongests the blockchain, because transactions are executed outside the mainnet, and it makes transactions faster and cheaper.

Polygon had asserted in the past about its ZK-Rollup ambitions.

Zk-rollup projects liste

On August 13, Polygon announced on its website that Hermez is merging into the Polygon ecosystem.

It will be operating under the new name, ‘Polygon Hermez’.

Polygon Hermez will become a part of Polygon’s products and services suite, including Polygon PoS Chain, Polygon SDK, and Polygon Avail.

Hermez’s whole 26-member team will be merging with Polygon, including team member Jordi Baylina, one of the most prominent contributors to Ethereum.

Holders of Hermez’s native token HEZ will be able to exchange at a rate of 3.5 HEZ:1 to MATIC token, Polygon’s native token.

Reasons for Acquisition

Polygon has cited some important reasons for acquiring Hermez, especially EVM (Ethereum Virtual Machine) compatibility and decentralization.

As the announcement states, EVM compatibility is uncompromisable for the company.

ZK Rollup, which stands for a zero-knowledge rollup, is a type of Layer 2 Blockchain technology that offers storage off-chain and performs computations when funds are present in smart contracts. There are a few different types of ZK Rollup projects that are designed by specific companies for certain functions.

Thus, this article discusses some of these projects and the companies that use them.

List of ZK Rollup Projects

zkSync

zkSync is a ZK Rollup project created by Matter Labs. This project is a secure, trustless (meaning that you don’t have to involve or trust a third party), user-centric protocol that’s used to scale smart contracts and payments on Ethereum. Its’ product is the zkWallet. Some companies that use zkSync include Golem, Balancer, GitCoin, Argent, Curve, etc.

The community adoption of their PoS chain also happened because of it.

Most of the ZK projects are in the research phase and have centralized operators. But, Hermez is the only decentralized-rollup solution in the market and is live on the mainnet.

This deal is strategically quite fruitful as Polygon now possesses an existing ZK-Rollup solution.

Also, it has helped the startup bypass the long journey to build one from scratch.

“[Mergers and acquisitions] M&As in the traditional tech world are an everyday thing. In blockchains, however, they are a new and very interesting concept.

While this ZK Rollup solution is growing, it hasn’t become as commonly used as others due to the lack of investment because of no dedicated token.

Arbitrum One

Arbitrum One scales Ethereum transactions with the use of bridges rollups and other tools. It has three major features, which include the following:

  1. Developers do not need a setup in the testnet to use Arbitrum One
  2. It offers L1/L2 interoperability
  3. It has running nodes

Some companies that are part of the Arbitrum ecosystem are listed below:

  • Curve
  • Balancer
  • MCDEX
  • Coinbase Wallet

Last Few Words

While there are many more ZK Rollup projects out there, many of them are focused on scaling Ethereum transactions.

While this ZK Rollup solution is growing, it hasn’t become as commonly used as others due to the lack of investment because of no dedicated token.

Arbitrum One

Arbitrum One scales Ethereum transactions with the use of bridges rollups and other tools. It has three major features, which include the following:

  1. Developers do not need a setup in the testnet to use Arbitrum One
  2. It offers L1/L2 interoperability
  3. It has running nodes

Some companies that are part of the Arbitrum ecosystem are listed below:

  • Curve
  • Balancer
  • MCDEX
  • Coinbase Wallet

Last Few Words

While there are many more ZK Rollup projects out there, many of them are focused on scaling Ethereum transactions.

Thus, it provides zero-knowledge cryptographic proofs that are also transparent (i.e., they don’t require a trusted setup), succinct, and post-quantum secure.

StarkNet

StarkNet is Layer 2 product by StarkWare that was created to eliminate the scaling problem with Ethereum, reducing high transaction costs. This technology is relatively new, but it has shown promising in marring the security that comes with Ethereum and the need for reduced fees.

StarkNet was deployed on an Ethereum-run market for crypto derivatives, dYdX.

Aztec

Aztec is a Layer 2 network that also brings privacy and scalability to Ethereum. This project uses zkSNARK proofs for the scaling and privacy features.

It is an open-source platform.

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