21:00-7:00: The US and ZkSync Era

03/25/2023 23:29 • Blockchain Buzz • 136 views

21:00-7:00 Keyword: US, Raisin, ZkSync Era, Do Kwon

Overview of important developments overnight on March 25th

Introduction

The ZkSync Era has been gaining attention in the US, particularly among investors keen on blockchain technology. The blockchain technology is taking a new turn with the introduction of ZkSync Era. This revolutionary technology has become a favorite among blockchain enthusiasts recently. In this article, we will look at the ZkSync Era and its impact in the US.

What is ZkSync Era?

ZkSync Era is a type of blockchain technology that utilizes zero-knowledge proofs technology, which is vital in enhancing privacy, scalability, and security in cryptocurrency transactions. The technology allows users to transact on Ethereum-blockchain with the speed of off-chain solutions and an on-chain level of security.

Overview of the US and ZkSync Era

The US is among the largest economies globally and boasts of a long history in technology development. The US has been one of the most vocal countries in supporting blockchain technology, with major companies such as Microsoft, Amazon, and IBM investing in blockchain. The adoption of ZkSync Era has been slow, but it is now picking up, with many individuals and companies embracing the technology.

Benefits of ZkSync Era in the US

One of the significant benefits of ZkSync Era is the increased scalability of cryptocurrency transactions, making it possible for more people to use cryptocurrency for their transactions. The technology has also enhanced privacy and security in transactions, making it challenging for hackers and other unauthorized people to sniff into someone’s transactions. In addition, ZkSync Era has led to low transaction fees, increased liquidity, and faster transactions, reducing the time for transactions significantly.

Do Kwon and ZkSync Era

Do Kwon is a prominent figure in the blockchain industry and the co-founder of Terraform Labs, a company that develops blockchain protocols. Do Kwon has been instrumental in promoting the adoption of ZkSync Era in the US. Recently, Kwon announced a strategic partnership between the Terraform Labs and Arbitrum, a company specializing in blockchain scalability solutions. The partnership aims to create a more scalable blockchain ecosystem and enhance the development of ZkSync Era.

Raisin and ZkSync Era

Raisin is a marketplace for savings and investments that recently joined hands with ZkSync Era to enable cryptocurrency transactions. Raisin has been looking for ways to expand beyond traditional banking, and this partnership provided that opportunity. The Raisin partnership is one of the major steps towards the mainstream adoption of the ZkSync Era, with more companies expected to follow that trend.

Challenges in the Adoption of ZkSync Era in the US

While the adoption of ZkSync Era is picking up, it is still facing significant challenges, with the lack of regulatory frameworks being the primary hindrance. The US Government is yet to provide any comprehensive legislation for dealing with blockchain technology, creating a lot of uncertainty in the industry. Additionally, the lack of technical expertise hinders broader adoption, with only a few experts versed with the technology, inhibiting the development of blockchain projects.

Conclusion

ZkSync Era’s adoption is slowly becoming a reality in the US, with more companies and individuals embracing the technology. Despite the slow pace, the technology’s benefits will see more crowds coming aboard, especially as many people lean towards cryptocurrency transactions.

FAQs

Q1. Does ZkSync Era have any disadvantages?
A1. One of the main disadvantages of ZkSync Era is its high complexity as it requires robust infrastructure to run in the market.
Q2. Can ZkSync Era be adopted in other parts of the world outside the US?
A2. Yes, ZkSync Era can be adopted anywhere in the world as long as there is adequate infrastructure and technical expertise.
Q3. How fast are transaction time using ZkSync Era?
A3. One of the significant benefits of ZkSync Era is its fast transaction time, making it ideal for real-time transactions.

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