As per the report, ZkSync 2.0 is a Layer 2 scaling solution that offers low gas and fast transactions on the main Ethereum blockchain (Layer 1), without compromising on security. ZkSync 2.0 significantly reduces gas costs without sacrificing security or user control while enabling users to effortlessly move assets (crypto, DeFi, NFTs, and others) between L1 and Layer 2 at any time, without delays.
Matter Labs, the company behind zkSync, has been working on its 2.0 version since 2020. The firm received funding from both the Ethereum Foundation and top-tier investors, such as Union Square Ventures, to do the task.