evm

Speed. It’s the ultimate metric in crypto. Solana’s massive success this cycle was built on its parallel execution engine - the ability to process thousands of transactions at the same time, unlike Ethereum's one-at-a-time 'serial' traffic jam.
However, Solana now faces its most significant technical challenge. A new generation of 'Parallel EVM' and 'MoveVM' chains are emerging with one goal: to offer Solana-level speed while keeping compatibility with Ethereum’s massive developer ecosystem and tools. This is a crucial battlefront in the scalability wars.
Networks like Sei and Monad (currently in devnet) are re-engineering the Ethereum Virtual Machine to allow parallel transaction processing, promising a hundredfold speed increase without forcing developers to rewrite their code from scratch.
Simultaneously, chains built on Move, like Sui and Aptos, argue their unique data structure offers even safer, faster parallel execution. For researchers, this is the most critical technical rivalry to watch.
If Parallel EVMs succeed, they could theoretically make dedicated high-speed chains redundant by bringing Solana's defining advantage to Ethereum's doorstep.
This isn’t just a speed test; it's a fight for ecosystem dominance.

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and neither Binance nor I, are liable for any losses you may incur. This post is for educational purposes only, and should not be treated as financial advice. #DYOR

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Scalability is one of the key problems of blockchain technology. In the context of blockchains, it refers to the ability of networks to handle a growing number of simultaneous transactions. The main problem is that as more transactions are added to the backlog of pending transactions, networks typically become slower and more costly.
Zero-knowledge solutions offer a promising way to address scalability issues. In this article, we will explore the ZKsync scaling solution, how it works, how it differs from optimistic rollups, and some of its benefits. We will also discuss the ZK token usage and distribution via airdrops.
What Is ZKsync?
ZKsync is a Layer-2 scaling solution designed to make transactions on Ethereum faster and cheaper by processing them off the main Ethereum chain. It does this by using the so-called zero-knowledge rollups (zk-rollups). Zk-rollups are solutions that bundle multiple transactions together and process them off-chain.
We can think of layer 2 solutions as an extra lane added to a congested highway. By providing more space for cars (transactions) to move, it reduces traffic jams on the main highway (Ethereum). This extra lane represents the off-chain transaction processing that ZKsync does with zk-rollups.
How Does ZKsync Work?
1. Aggregating transactions
Everything starts with using zk-rollups to collect and bundle off-chain transactions into batches. ZKsync avoids processing them individually to reduce the load on the main Ethereum chain.
For instance, imagine a post office where instead of separately mailing each letter to a specific address, they are collected and grouped first and then delivered all at once, making the process way more efficient.
2. Using zero-knowledge proofs
Then, ZKsync creates zero-knowledge proofs (ZKPs) to verify the batches. ZKPs ensure that transactions within the batches are valid while keeping their details private.
You can think of ZKPs as a method of proving you know a secret password without actually sharing it. For instance, if Alice wants to prove that she knows the password to a secret club, she can answer specific questions that only someone with the password would know, without ever revealing the actual password itself.
3. Submitting proofs to Ethereum
These ZKPs are then submitted to the Ethereum mainnet where they are thoroughly checked. Once verified and validated, they are accepted by the Ethereum network, meaning transactions are officially recorded and confirmed on the blockchain.
ZK Token
ZK tokens allow users to participate in the ZKsync governance system by offering voting power. Their voting power can be activated through the process of delegation. Let’s take a look at how it works:
To activate the voting power of your ZK tokens, you must delegate it to a ZKsync address. It can be your own or someone else's.The person who controls that address becomes a Delegate who can vote on governance proposals.Delegating does not change token ownership but activates the voting power for the chosen address.Delegation can be changed at any time by the token holder and lasts until altered or tokens are transferred.Delegation cannot be split across multiple addresses. All voting power held in one wallet is delegated to a single address.
The ZK token was listed on Binance with the seed tag applied on June 17, 2024. Please refer to the official listing announcement for more details.
ZKsync Airdrop
The ZK token airdrop distributed 17.5% of the total supply to eligible wallets. The allocation was divided between users and contributors.
Usage-based airdrop
To be eligible for the airdrop as a user, you had to bridge your funds onto ZKsync Era and meet at least one of the following seven criteria:
Interact with at least 10 non-token smart contracts on ZKsync.Use paymasters for at least 5 transactions on ZKsync Era. Paymasters are special accounts designed to cover transaction costs for other accounts, potentially making certain transactions free for end-users.Trade at least 10 distinct ERC-20 tokens on the ZKsync Era decentralized exchanges (DEXs).Provide any amount of liquidity to the tracked DEXs and Lending/Borrowing protocols on ZKsync Era.Hold at least one Libertas Omnibus non-fungible token (NFT) at the time of the snapshot. Be active for over 3 months on ZKsync Lite before the ZKsync Era mainnet.Donate to Gitcoin via rounds hosted on ZKsync Lite.
ZKsync airdrop allocations
According to ZKsync, the allocations were based on a value-scaling formula that consisted of multiple steps:
1. The first step was to determine the daily balance of crypto assets held by an address. This included both the wallet balance and the crypto sent to decentralized finance (DeFi) protocols.  
2. Next, crypto assets in DeFi protocols were valued at 2x their nominal value. For example, if you had $100 worth of crypto in a DeFi protocol, the formula would count it as $200.
3. Finally, the daily balances were summed up and divided by the snapshot period (366 days) to calculate the time-weighted average balances.
For example, imagine that Alice sent $200 worth of crypto assets to ZKsync Era 30 days before the snapshot and immediately allocated 1/4 of them ($50) to a DeFi protocol. The other $150 was kept in her wallet until the snapshot. Now, let’s calculate her time-weighted average balance (TWAB):
TWAB = ( ($150 30 days) + ($50 2 * 30 days) ) / 366 = $20.50
Each address could receive additional multipliers based on specific activities that indicated genuine user behavior or contribution to ZKsync. These multipliers were added on top of the allocations. Here are some activities that could add multipliers:
1. Hold at least one of the following ZKsync native NFT collections at the snapshot: Dudiez, Hue, Moody Mights, Webears, ZKPENGZ, zkSkulls, or zkVeggies.    
2. Hold at least 50% of the ARB/OP/ENS airdrop for more than 90 days after claiming it.
Contribution-based airdrop 
The ZK token airdrop also included specific allocations for various contributors to the ZKsync ecosystem. Here is a detailed breakdown of the contribution-based airdrop:
1. ZKsync native projects: 215,250,000 ZK tokens were allocated directly to the contributors and treasuries of native projects building on ZKsync Era, including DeFi protocols, gaming, ZK chains, NFT collections, infrastructure, and more.
2. Builders: 86,895,375 tokens were allocated to individuals, developers, researchers, communities, and companies who contributed to the ZKsync ecosystem through development, advocacy, or education.
GitHub developers: Developers with at least 25 commits across eligible repositories before March 24, 2024.Protocol Guild: Ethereum researchers and developers.ZK quest participants: Participants in the ZK quest developer activations at Istanbul Devconnect 2023 and/or ETH Denver 2024.And many others.
3. On-chain communities. 102,375,000 tokens were allocated to a small group of experimental on-chain communities for exploring ways to use tokens and NFTs, such as:
Season 1 DEGEN token airdrop recipients.Season 1 BONSAI token airdrop recipients.Participants in Seasons 1 and 2 of Crypto The Game (CTG) and the CTG team.Pudgy Penguin and Milady Maker holders.   
How to Claim the ZKsync Airdrop?
Be wary of fake websites and phishing attacks. Make sure you are using the official websites and channels. 
Follow these steps to check your eligibility and claim your ZK tokens:
1. Visit the official airdrop website and check whether you are eligible for the airdrop. Enter your wallet address or GitHub username and press [Check].
2. Click [Connect wallet] and follow the prompts to connect your crypto wallet.
3. Next, you will have to delegate the voting power of your ZK tokens. You can either delegate to yourself or any community member.
4. Finally, press [Claim your tokens] and follow the prompts. If you encounter an error, click [Claim your tokens] again.
How to Claim the ZKsync Airdrop on Binance?
To claim ZK tokens from Binance, eligible users need to deposit a minimum of 0.02 ETH from a whitelisted address on the ZKsync Era network to their Binance account. Only deposits made directly from addresses included in the active ZKsync user whitelists will be considered valid for this distribution.
Whitelisted Address Batches:
Batch 1Batch 2Batch 3Batch 4
ZK tokens will be distributed on a first-come, first-served basis to users who meet the criteria. Each user can only claim ZK tokens once (i.e., one claim per Binance User ID), with a limit of 200 ZK tokens per user. Even if a user deposits 0.02 ETH from multiple addresses to a single Binance UID, they can only claim the airdrop once for a total of 200 ZK tokens.
The first ZK Token airdrop on Binance is scheduled to start on June 25, 2024. Please refer to the official announcement for more details on the Binance ZK Token Distribution Program.
Sybil Attacks and Community Criticism
The ZKsync airdrop has sparked controversy among the cryptocurrency community, raising concerns about its execution and fairness.
The ZKsync airdrop was criticized for the lack of effective measures against Sybil attacks. Many users argued that it was easy to exploit the eligibility criteria, allowing the creation of multiple wallets to trick the system and get more tokens.
In response, ZKsync developers explained that they deliberately chose not to use overly strict Sybil detection to avoid accidentally excluding many organic users. Instead, they implemented value scaling and multipliers to detect potential Sybil attacks while prioritizing organic users.
Some argued that ZK tokens were not fairly distributed. Critics stated that the maximum cap of 100,000 ZK tokens per address was too small as it unfairly cut the rewards for users who were heavily involved in the ZKsync ecosystem. Some users claimed they didn’t get anything despite following the eligibility criteria and using ZKsync’s products for multiple years.
To address these concerns, ZKsync clarified its distribution strategy, emphasizing its focus on rewarding active participants. The team pointed out that 89% of the airdropped tokens were given to users who actively engaged with ZKsync Era.
ZKsync vs. Optimistic Rollups
Security mechanism
Optimistic rollups start by assuming that all transactions are valid. They use a method where nodes are paid to check the transactions after they are processed. If any problems are found, they are reported, and transactions are corrected. The issue with this approach is its reliance on human actors who can easily make mistakes.
In contrast, ZKsync uses ZKPs to ensure transaction security. This approach can offer a relatively higher level of accuracy compared to optimistic rollups.
Settlement time
Optimistic rollups have a so-called 7-day challenge period. It is necessary because optimistic rollups initially assume that all transactions are valid, and only corrects them if someone disputes their validity. Transactions are not finalized until this period ends, leading to slower settlement times.
In contrast, ZKsync uses ZKPs to verify transactions. Transactions are finalized as soon as they are verified by the nodes. This approach skips the need for a challenge period, making settlement times faster.
Benefits of ZKsync
Scalability
ZKsync enhances the scalability of the Ethereum network by processing transactions off the main Ethereum chain using zk-rollups. This lowers transaction fees and speeds up transaction times. As a result, ZKsync allows Ethereum to support more users and decentralized applications (DApps).
EVM compatibility
EVM compatibility means that developers who have already created DApps for the Ethereum Virtual Machine (EVM) can migrate them to ZKsync with minimal changes. This reduces the learning curve and makes it easier for them to adopt ZKsync scaling solutions. 

#Zksync #evm #dapp
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Originally, blockchains were primarily used as decentralized networks for processing transactions. However, virtual machines have enabled smart contracts to be built on top of blockchains, changing them into foundational layers for a wide variety of use cases and applications. The Ethereum Virtual Machine (EVM) and the Solana Virtual Machine (SVM) are prime examples. In this article, we will explore what the SVM is, how it works, and how it differs from the EVM.
What Is the Solana Virtual Machine (SVM)?
The SVM is the execution environment for smart contracts on the Solana blockchain. It can process thousands of transactions per second (TPS), improving the scalability of the network. 
Ethereum was the first to create a blockchain virtual machine, the EVM, which has since become the standard. EVM’s architecture has inspired several blockchains, such as BNB Smart Chain, Avalanche, and Tron, which have developed systems forked or compatible with the EVM. The Solana Virtual Machine has emerged as a formidable competitor to the established EVM. 
How Does the Solana Virtual Machine Work?
The Solana Virtual Machine (SVM) is like a powerful computer that runs on the Solana blockchain and handles smart contracts created by users. We can break the SVM working mechanisms in a few different steps.
Validator nodes. Solana has lots of validator nodes spread out globally. Each runs its own version of the SVM, meaning they can work on different tasks independently.Preparing smart contracts. To run a smart contract, the SVM first translates it into a language that the node can understand. This makes sure that the smart contract is executed correctly.Running the smart contracts. After the smart contract is in the right format, it gets executed. The smart contract updates some blockchain data on the particular node’s version of the SVM that runs it.Reaching consensus. This updated version of the blockchain is shared with all the other network nodes to reach consensus.
Let’s imagine that a user is using a decentralized application (DApp) built on Solana to buy and sell digital art. When they buy a piece of art, a smart contract is executed to update the ownership record on the blockchain. This smart contract is run through the SVM on one of the nodes, which checks the rules, makes sure the payment is legit, and updates the blockchain data.
Parallel Execution With SeaLevel
A distinct feature of the SVM is its ability to handle many smart contracts at the same time. That is achieved through parallel transaction processing. Essentially, the SVM executes multiple smart contracts in parallel, enhancing transaction throughput and efficiency.
SeaLevel is a component of the SVM that addresses the potential conflicts in parallel execution when multiple transactions affect the same account state at the same time. For instance, if two transactions—one adding funds to a wallet and another withdrawing funds—are executed simultaneously, it may lead to computational errors if not managed correctly.
SeaLevel is designed to manage dependencies between transactions explicitly. Smart contracts on Solana specify which parts of the blockchain's state each transaction will modify. This allows the system to identify transactions that can run independently (affecting different parts of the state) and those that are dependent (affecting the same part of the state). Dependent transactions are processed in a sequential order to prevent any conflict, ensuring that each transaction is executed accurately without compromising data and the blockchain's overall performance.
SVM vs. EVM
Transaction processing model
The SVM employs a parallel processing model, allowing multiple transactions to be executed simultaneously, which enhances throughput and reduces latency. Conversely, the EVM processes transactions sequentially, potentially leading to congestion during periods of high network use.
Programming language
The SVM supports Rust, a language known for its efficiency, particularly suitable for applications requiring high performance and security. Conversely, the EVM uses Solidity, a language designed specifically for smart contract development.
Smart contract deployment and execution
Smart contracts on the SVM are executed independently by each validator, enabling more efficient network operations. In contrast, the EVM requires that all nodes reach a consensus on the outcome of smart contract executions, which can slow down processing times.
Challenges of the SVM
The SVM faces various challenges. One of the main setbacks is the complexity of maintaining system stability and security in a parallel processing environment. While efficient, this architecture requires additional coordination to prevent conflicts and ensure integrity when transactions that affect the same data are processed simultaneously. 
In addition, the Rust programming language presents a steeper learning curve for new blockchain developers compared to Solidity and other programming languages used in blockchain development.
#SVM #EVM #solana
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The decentralized finance (DeFi) space has long been dominated by a specific architecture: the Ethereum Virtual Machine (EVM). Platforms like Aave, Compound, Morpho, and Yearn Finance have built massive liquidity black holes, handling billions of dollars in transaction volume and defining the standards for over-collateralized lending.
But as the industry matures, the EVM-centric model has begun to reveal its flaws - especially in achieving truly trust-minimized interoperability. Liquidium has emerged, a lending protocol that rewrites cross-chain DeFi rules using Chain Fusion technology based on the Internet Computer (ICP).

Binance will list #ZkSync (ZK) and open trading for the following spot trading pairs at 2024-06-17 08:00 (UTC).
New spot trading pairs: ZK/BTC, ZK/USDT, ZK/FDUSD and ZK/TRY.
Users can now begin depositing ZK in preparation for trading.
Withdrawals will open at 2024-06-18 08:00 (UTC).ZK Listing Fee: 0 BNB.

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With capital efficiency 💰 and a DeFi-first approach, Berachain is rapidly gaining traction among traders and developers. Get ready for the next big thing in blockchain! 🚀
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