zkSync Token Economics Will Be Officially Released In Early November

Steve Newcomb, product manager for the zkSync Matter Labs development team, said on Twitter Space that zkSync will release a Token Economics announcement in early November.

In a Twitter chat on the evening of October 20, Steve Newcomb, Matter Labs Chief Product Officer (CPO), developer of the Ethereum Layer 2 solution zkSync said the company has plans for an economics token to be released in early November.

Earlier, the company also announced ahead of the mainnet launch on October 28, Ethereum scaling solution zkSync has released a massive integration for its zkEVM technology called proof-of-validation.

This integration is what “many development teams have been waiting for, the project’s developer, Matter Labs, stated on Medium. Integrating validity proofs will allow developers to thoroughly test the technology required for key network activities, including proof creation, aggregation, and on-chain verification.

This integration is now live on the zkSync 2.0 testnet, completing a final critical step before the official launch.

With Ethereum’s Modular blockchain direction, many layer-2 solutions were born. Among them, Rollups are the solutions that have attracted a lot of attention from the community in recent times.

zkSync is a layer-2 solution belonging to the zk-Rollup team and developed by the Matter Labs team. Deploying mainnet since June 2020, it has helped process 4 million transactions. Besides, the transaction fee on the platform is also very cheap – hovering around 0.2 USD and can be paid in many different units (ETH, DAI, RAI, ..).

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