Huobi Global collaborates with zkSync, Matter Labs’ latest ZK Rollup EVM-Compatible. Following Huobi Ventures’ strategic investment in Matter Labs’ recent round of funding, this is to offer a faster and lower-cost Blockchain experience with good security as Ethereum.
Aside from lowering gas prices, zkSync transactions provide a better user experience by providing instant confirmation of transactions, easy gas payment using any popular ERC20 token, and other benefits. Developers can easily transfer their L1 software thanks to native access to Solidity and the Web3 API.
To meet this growing demand, Huobi is working quickly to provide a direct on and offramp fiat to zkSync. Customers of Huobi will soon be able to deposit and withdraw assets from zkSync without incurring any mainnet transaction fees, while zkSync users will benefit from Huobi’s liquidity and scalability.
JinBin Xie, Investment Manager at Huobi Ventures, stated that the capital efficiency improvements of the 15-minute departure time for withdrawing cash from the zkSync excite them the most as an exchange, and that they cannot wait to enroll all customers in the vast dApps ecosystem that is already committed to deployment. Huobi also wishes to assist a new generation of dApp innovation that will emerge as a result of the introduction of zkSync 2.0’s data off-chain solution. zkPorter provides transactions at a cost of 1–3 cents while remaining compassable with the ZK Rollup.
Huobi Group, one of the most reputable companies in the digital economy, works to develop some of the best fundamental Blockchain technologies by integrating Blockchain with various sectors. Huobi Group has expanded its operations to include industrial, public, and digital asset trading, among other things, with a focus on both upstream and downstream industries.
Concerning Matter Labs
Matter Labs developed the Ethereum Zero-Knowledge Proof technology. The company released the world’s first public ZK rollup prototype in 2019, was the first to perform ZK proofs on Ethereum, and developed the world’s first realistic FPGA-based hardware for ZKP acceleration in 2020. Because of Matter Labs’ recent introduction of a zkEVM testnet, zkSync is the first ZK rollup capable of creating native smart contracts in Ethereum smart contracts.