Rocket Pool To Launch On zkSync Era To Take Advantage Of ZK

Key Points:

• Rocket Pool, an Ethereum staking service, has been installed on the zkSync Era network.
• Rocket Pool users may transfer their token rETH quicker and cheaply by using the zkSync Era, resulting in a more user-friendly experience in DeFi apps.

Rocket Pool, an Ethereum staking service, has been installed on the zkSync Era network.

Rocket Pool customers will be able to transfer their token rETH quicker and cheaply by using the zkSync Era, resulting in a more user-friendly experience in DeFi apps. Rocket Pool is operational on the Ethereum Layer 2 networks Optimism and Arbitrum.

“Liquid stakers will benefit from faster speeds & lower transaction costs, secured by zkSync Era’s zero knowledge proofs – another step in our mission to reduce barriers to entry & ensure everyone can participate in Ethereum’s proof-of-stake system,” Rocket Pool said in the Twitter thread.

The team is also investigating how zero-knowledge proofs might be utilized to offer decentralized security in other portions of the protocol.

This will be the first Ethereum liquid staking protocol to be implemented on the new network. It joins the 58 projects that are currently active on the platform.

Rocket Pool is a decentralized Ethereum staking system designed to work with the Ethereum Beacon chain. Together with Lido Finance and Ankr Protocol, this is a project in the area of Liquid Staking Derivatives (LSDs).

Rocket Pool addresses the issue of user assets being frozen while engaging in staking on Ethereum 2.0, as well as those who do not have enough 32 ETH to engage in staking or deploying nodes on Beacon Chain.

Simply put, instead of needing at least 32 Ethereum to participate in staking or installing a node on Ethereum, Roket Pool requires just 16 Ethereum to operate a node or 0.01 Ethereum to participate in regular staking. The amount of Ethereum you put into Rocket Pool’s pool is represented by the token rETH.

zkSync Era is a blockchain technology development platform based on the Zero Knowledge protocols developed by zkSync. Moreover, zkSync Era was created by blockchain business Matter Labs to increase the performance and scalability of Ethereum-based apps. To boost transaction speed and minimize gas costs on Ethereum, zkSync Era employs zero-knowledge proof methodologies. Rather than verifying each transaction on the public blockchain, zkSync Era enables transactions to be verified with a limited amount of permissionless proofs, reducing time and costs.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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