Circle integrates zkSync for USD Coin

Circle, one of the largest stablecoin producers, has expanded support for Ethereum’s layer 2 solution zkSync to include its own stablecoin, USD Coin (USDC). This integration expands the possibilities for Ethereum developers and users, allowing them to benefit from zkSync’s zero-knowledge proof and rollup technology.

Expanding the reach of USD Coin

With the inclusion of zkSync, USDC can now be used on 16 blockchains, including Ethereum, Solana, Base, Arbitrum, and more. This extension allows developers to build on the stable foundation provided by Circle to ensure the stability and sustainability of their apps and services.

Take advantage of zkSync’s technology

zkSync uses zero-knowledge proofs and rollups to execute transactions at layer 2 of the Ethereum network at record speeds and low costs. Zero-knowledge proofs allow you to evaluate transaction integrity without revealing the underlying data, ensuring privacy and security. Rollups increase scalability and lower costs by combining many transactions from the Ethereum core layer into a single transaction.

USDC’s integration with zkSync provides many benefits to organizations and developers, including:

1. Fast and cheap transaction

Using zkSync’s unique data compression mechanism, developers can enjoy low-cost transactions on the Ethereum network. This scale-up solution significantly reduces gasoline costs and increases transaction throughput, providing lower prices for both individuals and businesses.

2. Improved security and privacy.

zkSync’s zero-knowledge proof ensures the integrity of transactions by providing cryptographic guarantees of transaction validity. These enhanced security features are critical to banking apps and DeFi protocols where trust and privacy are essential.

3. Basic account abstraction

Developers can use zkSync’s built-in account abstraction to perform social wallet recovery, subscription payments, and network fee payments in USDC. This feature improves user experience and expands USDC’s use cases in the Ethereum ecosystem.

zkSync ecosystem growth

As of April 9, 2024, the zkSync ecosystem has over 180 decentralized apps and 5.7 million unique active wallet addresses in the last 30 days. This growing development and user community shows that layer 2 solutions like zkSync are becoming increasingly popular and in demand.

Circle’s Commitment to the Future of Ethereum

Circle’s integration of zkSync with USDC is consistent with the goal of increasing Ethereum’s throughput while maintaining its core ideals of freedom, self-sovereignty, and large-scale decentralization. Circle seeks to foster innovation and development within the Ethereum ecosystem by providing both developers and companies with access to reliable and scalable infrastructure.

conclusion

Circle’s adoption of zkSync for its native stablecoin, USD Coin, is another key step toward building the Ethereum layer-2 ecosystem. zkSync’s zero-knowledge proof and rollup technology provides developers with a powerful platform for fast, low-cost transactions and better security. This integration highlights Circle’s commitment to the future of Ethereum and its goal of increasing scalability while maintaining the network’s essential principles.

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