Bittime – Popular Ethereum Layer 2 scalability solution ZkSync , is on the verge of a major milestone with a Token Generation Event (TGE) expected this week, according to sources familiar with the matter. This event will be followed immediately by a token airdrop event in the next 30 days, potentially rewarding early adopters and further strengthening the Layer 2 ecosystem.
Total ZkSync Supply 21 Billion & Airdrop In The Near Future
The total supply of ZkSync tokens is set at 21 billion, with the airdrop aiming for mid-June distribution, specifically targeting a date before the Blast token airdrop on June 26. Although ZkSync prefers the “ZK” symbol, there is a potential snag due to previous claims from Polyhedra Network. The zkSync team will probably still pursue this option considering that Binance has not yet listed the Polyhedra token.
Also read zkSync Airdrop: Complete Guide and Everything You Need to Know
ZkSync Decentralization Efforts
This development is in line with ZkSync's ongoing decentralization efforts. As a Matter Labs spokesperson explained, “concrete plans are still in development” regarding the specifics of this transition.
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Token Launch Follows Decentralization Push Last Week
ZkSync signals a token launch and airdrop along with upcoming protocol upgrades designed to accelerate decentralization. “Version 24 (v24) represents the final planned upgrade before handing over network governance to the community,” the ZkSync team announced. “By the end of June, we hope all the remaining elements will be ready.”
The Supporting Figure Behind ZkSync
Well-Backed Layer 2 Power Matter Labs, the developer behind ZkSync, has an impressive list of backers including Andreessen Horowitz (a16z), Dragonfly Capital, and Blockchain Capital. This strong financial backing reflects the potential of the project, which has secured $458 million in total funding, spanning both venture capital and dedicated ecosystem funds.
Utilization of ZK-Rollups by ZkSync
ZkSync leverages ZK-rollups, a scalability technology that Ethereum co-founder Vitalik Buterin hailed as a long-term winner for its efficiency and diversity. Buterin recently reiterated this view, predicting that “within a decade, all rollups will use ZK-proofs and commit a final state root to each slot's main Ethereum blockchain. While significant infrastructure and proof optimization is required to achieve this, it represents a clear end goal.”
Also read : Getting to Know Zero-Knowledge Proofs (ZKPs)
Token Launch & Airdrop In The Near Future
ZkSync's upcoming token launch and airdrop marks an important step towards a more robust and decentralized Ethereum Layer 2 landscape. This development aligns perfectly with the optimistic outlook for ZK-rollups in the blockchain space.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also:
Bybit Announces zkSync Listing: Controversy Arising Over ZK Ticker Raid
Bybit Web3 Presents Revolutionary Layer 2 Bitcoin Airdrop
What is zkSync Era? Read the detailed explanation
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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