Coinbase added the new native asset of an Ethereum (ETH) layer-2 scaling protocol to its listing roadmap on Friday, putting the token on the potential path to trading on the top US crypto exchange.
Zksync (ZK), the newest addition to the listing roadmap, bills itself as “an ever-expanding verifiable blockchain network, secured by math.”
The project is a ZK rollup, one of the two main types of rollup solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. ZK rollups run computations off the chain and then submit a validity report, while the other type, Optimistic rollups, automatically assume transactions are valid.
Explains ZKsync’s whitepaper,
“ZKsync Era is made to look and feel like Ethereum, but with a higher throughput and lower fees. Just like on Ethereum, smart contracts are written in Solidity/Vyper and can be called using the same clients as in other EVM-compatible chains.
You don’t need to register a separate private key before using it; ZKsync supports existing Ethereum wallets out of the box.”
The project’s native token, ZK, launched in mid-June and is trading at $0.988 at time of writing. The 156th-ranked crypto asset by market cap is down nearly 2% in the past 24 hours.
Coinbase created its listing roadmap in 2022 to increase transparency and prevent the front-running of token launches.
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