Cointime

Cointime

Download App
iOS & Android

LBank Joins Forces with zkSync to Foster Layer-2 Ethereum Scaling Solutions and Empower a New Generation of Decentralized Applications

Cointime Official

LBank, the leading cryptocurrency exchange, is excited to announce its collaboration with zkSync, a Layer-2 protocol that scales Ethereum using cutting-edge zero-knowledge (ZK) technology.

LBank is among the first exchanges to publicly support zkSync, embracing its mission to scale Ethereum while preserving its core values – freedom, self-sovereignty, and decentralization. 

The Inside Scoop

LBank and zkSync will host a Twitter Space event on May 3rd at 2:00 PM EDT, featuring guest Omar Azhar. This collaboration reflects LBank’s commitment to monitoring and supporting the growth of zkSync’s ecosystem, and actively engaging in its long-term development. 

zkSync Overview

zkSync offers a wide range of benefits for users and developers, including:

1. Cheaper and faster transactions: zkSync reduces gas fees and increases transaction speeds, making it more cost-effective and efficient than Ethereum’s Layer 1

2. Low gas fees: zkSync enables up to 1/100 of Layer 1 gas fees, significantly reducing costs for users.

3. High-speed transfers: With over 2000 transactions per second, zkSync vastly outperforms Layer 1’s 14 transactions per second.

4. Security: zkSync maintains the security and decentralization of Ethereum by using ZK rollup technology, which bundles off-chain transactions and sends them back to Layer 1.

5. EVM compatibility: zkSync will be EVM compatible, allowing developers to easily transfer existing Layer 1 smart contracts to Layer 2 when zkSync transitions from version 1.0 (Lite) to 2.0 (Era) in early 2023.

6. Account Abstraction: Unlike other ZK rollups, zkSync supports Account Abstraction, which turns every account into a smart contract with its own logic, enabling tailored accounts for each user.

7. Robust backing: Developed by Matter Labs, zkSync has the backing of the Ethereum Foundation and top investors, and has been live since September 2020.

Some Notable projects in zkSync’s ecosystem

ZigZag: A decentralized exchange using zk-Rollups, empowering investors to swap tokens and perform spot trading straight from their wallets without additional charges or gas fees. ZigZag has also implemented a bridge to connect zkSync with Ethereum. Link:https://www.zigzag.exchange/ 

Taker Protocol: A platform based on a decentralized autonomous organization (DAO), providing a liquidity framework for cryptocurrency tokens, synthetic assets, and NFTs. Taker Protocol enables crypto lending and borrowing, NFT lending, and even renting. Link: https://taker.org/ 

Spruce: Focused on building a future where users control their identity and data across all digital interactions, Spruce endows individuals with control over privacy through open-source software that enables user-controlled interactions. Link: https://spruceid.com/ 

Mute.io: Mute.io is entirely grounded in zk-Rollups and ruled by DAO. As an automated market maker exchange, initial DEX offering (IDO) and farming protocol, it conveys transactions at lightning speed while eliminating gas fees that would typically be a challenge. Privacy is improved as well, with the help of zkSync technology. Link: https://mute.io/

LBank’s partnership with zkSync includes

1. Monitoring early-stage projects and providing collaboration recommendations for project teams.

2. Participating in high-quality project investments, offering financial support.

3. Supporting developer community hackathons and fostering innovation.

4. Potentially listing high-quality projects directly, connecting them to LBank’s user community.

As one of the first public supporters, LBank continues to follow zkSync’s development and actively participates in its ecosystem. By inviting zkSync’s core members for sharing, LBank aims to provide support for innovative ecosystems and contribute to their growth. LBank’s commitment to zkSync showcases its dedication to not only embrace innovative and meme projects but also to offer continuous support for high-quality, innovative ecosystems within the cryptocurrency space.

In summary, LBank’s partnership with zkSync represents a significant step towards a more efficient, secure, and user-friendly decentralized future. Through this collaboration, both LBank and zkSync are poised to empower developers, investors, and users alike, fostering innovation and growth within the cryptocurrency and blockchain industries. As the partnership progresses, LBank will continue to monitor zkSync’s ecosystem, providing support and resources to help zkSync achieve its mission of scaling Ethereum while preserving its core values.

About LBank

LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.

LBank
Comments

All Comments

Recommended for you

  • ETH Trading Volume on Hyperliquid Exceeds BTC, Reaching Approximately $1.1 Billion in 24 Hours

    On October 11, the trading volume of ETH on the Hyperliquid platform reached approximately $1.1 billion in the last 24 hours, surpassing BTC's $805 million. Market analysts believe that the increase in ETH trading volume is related to suspected exploitation of the PaperTrade mechanism. Earlier today, reports indicated that PaperTrade was allegedly manipulated by two addresses, revealing a significant vulnerability in the protocol: the two wallet addresses executed trades on Hyperliquid with a single transaction size of about $20 million, causing ETH prices to fluctuate by approximately 10 to 20 basis points, and establishing long positions with a notional value of several hundred million dollars on PaperTrade.

  • Ledger Confirms Unauthorized Hardware Implant in Devices, Losses May Exceed $86 Million

    On October 11, Cointelegraph reported that hardware wallet manufacturer Ledger confirmed the presence of unauthorized hardware implants in the devices of an affected user. The incident involves losses related to devices purchased from its Southeast Asian distributor, CryptoBilis. Investigator Specter estimates that the losses may exceed $86 million, involving Bitcoin, Ethereum, and Tron. Ledger stated that it is in contact with the affected users; CryptoBilis has confirmed the suspension of all hardware wallet inventory sales until the investigation is complete. Ledger claims that the incident appears to be limited to this single distributor and its market, and that its own infrastructure, systems, and services have not been compromised. The company has not yet confirmed the number of affected customers or the total amount of losses. Ledger advises users who have not initialized their devices to refrain from doing so, while those who have already initialized their devices may consider transferring their assets to a new signer using a new mnemonic.

  • Anthropic Model Automatically Submits False Leads to Philadelphia Police

    On October 11, according to CCTV International News, the AI model 'Claude Haiku 4.5' from Anthropic automatically accessed the Philadelphia Police Department's webpage for unsolved homicide tips in July this year, filling out a form claiming to have 'potential information related to the case' but did not provide a name or contact information. The form was subsequently marked as spam by the police and did not trigger an investigation. Anthropic released a report on October 9 disclosing the incident and notified the Philadelphia police in advance. The police stated they were previously unaware of the situation, deemed it 'unacceptable,' and requested that technology companies take necessary measures to prevent their AI systems from submitting false information to law enforcement.

  • Industrial Fulian: US International Trade Commission Initiates 337 Investigation Against Company and Subsidiary

    On October 11, Industrial Fulian announced that it was informed the US International Trade Commission officially launched a 337 investigation on October 9 local time, regarding patent infringement claims made by Vicor Corporation. Vicor accuses the company and its subsidiary of infringing on a patent for a 'vertical power supply system.' After an internal review, the company stated that the products involved in this investigation are currently in the internal validation and evaluation stage, and this investigation does not have a substantial impact on the company's current production, operations, or performance.

  • CFTC Issues Two Proposals Clarifying Prediction Markets as Derivatives, Excluding Casino Gambling

    On October 11, Cointelegraph reported that the U.S. Commodity Futures Trading Commission (CFTC) has released two proposals to clarify its regulatory authority over prediction markets. The first proposal defines event contracts related to sports, politics, culture, and weather as 'swaps' products under federal law. CFTC Chairman Michael Selig stated that these products fall under the category of commodity derivatives as defined by the Commodity Exchange Act, and are fully within the exclusive jurisdiction of the CFTC. The second proposal establishes boundaries, explicitly stating that traditional casino-style gambling products—including sports betting and casino games—do not fall within the definition of 'swaps' and are not considered derivatives. This move comes in the context of prediction market operators like Kalshi and Polymarket facing joint lawsuits from multiple states, accused of operating illegal gambling businesses; the CFTC is counter-suing and issuing new regulations in an attempt to clarify the regulatory boundaries between federal and state authorities, paving the way for a potential Supreme Court ruling.

  • Houthi Forces Warn Airlines, Staff, and Passengers Again

    On October 11, the Houthi forces in Yemen issued another warning to airlines, staff, and passengers, advising them not to use airports within Saudi Arabia.

  • U.S. Spot Bitcoin ETF On-Chain Holdings Exceed 2 Million BTC

    As of October 11, data from Dune shows that the on-chain total holdings of the U.S. spot Bitcoin ETF have surpassed 2 million BTC, currently reaching approximately 2.013 million BTC, which accounts for 10.02% of the current BTC supply. The value of the on-chain holdings has reached approximately $227.6 billion.

  • Hedge Fund Net Exposure to US Tech Giants Reaches Record High of 22%

    On October 10, according to data from Goldman Sachs and The Kobeissi Letter, investor sentiment towards large tech stocks has reached an all-time high. Hedge fund net exposure to the 'Big Seven' tech giants in the US has risen to 22%, marking a historic peak; this figure has surged by 7 percentage points since July, representing the largest three-month increase in 2023, and surpassing the previous high of 21% set in June 2024 (compared to only 8% during the bear market low in 2022). During the same period, hedge fund net exposure to semiconductor stocks in the US has increased to 12%, slightly below the peak of 14% in June 2026, while this metric was only 2% at the beginning of 2025.

  • Anthropic Reveals Internal Issues: Out-of-Control AI Attempted to Access Multiple Government Websites, Reported to the White House

    Anthropic stated on Friday that its AI agents acted autonomously, attempting to access various federal, state, and local government websites. The company did not disclose which government agencies were involved but confirmed that it has reported these incidents to the White House. In a blog post, Anthropic mentioned that one of its AI models under testing had taken several unauthorized actions, including exploiting a vulnerability on a university website to download data and submitting a form to a government agency that it had been explicitly instructed not to submit. The company noted that it discovered these incidents after beginning a review of the AI's actions in July. Earlier on Friday, the Philadelphia Police Department stated that Anthropic had notified them that its technology had submitted a false homicide tip to the police website.

  • No Flights Departing or Arriving at Riyadh's King Khalid Airport Following Explosion Sounds

    On October 10, according to CCTV International News, witnesses reported that explosion sounds were heard at Terminal 3 of King Khalid International Airport in Riyadh, the capital of Saudi Arabia, this afternoon, leading to the evacuation of personnel from the airport. Flight tracking website 'FlightRadar24' indicates that there are currently no flights departing or arriving at the airport, and some flights heading to Riyadh have been diverted or returned. King Khalid International Airport has issued a traveler advisory, recommending that passengers contact their airlines to confirm flight status before heading to the airport.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company