Coinbase added a new native asset for an Ethereum (ETH) layer 2 scaling protocol to its listing roadmap on Friday, paving the way for the token to potentially be traded on the largest U.S. cryptocurrency exchange.
The latest addition to the listing roadmap, Zksync (ZK), calls itself “an ever-expanding verifiable blockchain network secured by mathematics.”
This project is a ZK rollup, one of two major rollup solutions that executes transactions outside the Ethereum blockchain but records transaction data. ZK rollups execute computations off-chain and then submit validation reports, while the other type, Optimistic rollups, automatically assume transactions are valid.
Describes the white paper of ZKsync.
“ZKsync Era is built to look and feel like Ethereum, but with higher throughput and lower fees. Like Ethereum, smart contracts are written in Solidity/Vyper and can be called using the same clients as other EVM-compatible chains.
There is no need to register a separate private key before use. ZKsync supports existing Ethereum wallets out of the box.”
The project’s native token, ZK, was launched in mid-June and is trading at $0.988 at the time of writing. The 156th largest cryptocurrency by market cap is down about 2% in the last 24 hours.
Coinbase has created a listing roadmap for 2022 to increase transparency and prevent token launches from getting ahead of their timeline.
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