Introduction to zkSync
zkSync is a Layer 2 scaling solution launched by the European team Matter Labs. It improves the scalability of the Ethereum network by adopting Rollup (one of the leading Layer 2 solutions) based on zero-knowledge proof.
The Ethereum mainnet, or Layer 1, is plagued by transaction congestion leading to high gas fees. Its performance can be improved for a higher TPS through Layer 2 solutions. Try the zkSync wallet now if you face a low transaction speed with an unaffordable gas fee.
Switching to the zkSync wallet
Open imToken's ETH wallet, click "My Profile" - "Explore", and enable the Layer2 function. After that, you can switch to the zkSync wallet on the wallet page.
Transferring and Receiving Tokens
Click “Transfer” then enter the amount and recipient's address. After confirming all information, you can pay gas fee to complete your transfer.
It only costs very little to transfer through the zkSync wallet. However, the gas fee will be relatively higher in the following two cases:
- Case 1: transferring through the zkSync wallet for the first time.
The first transaction of a zkSync wallet includes generating the signer key, setting the public key, and signing the transaction, so the gas fee is relatively higher but it will fall back to the normal level for follow-up transactions.
- Case 2: transferring to an inactivated zkSync wallet
An extra fee is needed for activating the zkSync wallet. In this case, the gas fee is relatively higher, too.
Click “Deposit” - “Receive” to enter the page for receiving tokens. You can share your address or QR code to receive tokens from the sender. You can receive them in your address after they are successfully transferred.
Depositing and Withdrawing
Click “Deposit” then choose the token you want to deposit and enter the amount.
Note: deposit transactions should be confirmed by the Ethereum network first. After that, tokens from the ETH wallet can be deposited to the zkSync wallet.
Click “Withdraw” and then choose the token you want to withdraw and enter the amount.
Note: it takes about 10 minutes to seven hours to withdraw from the zkSync wallet to the ETH wallet. The specific duration depends on the zkSync network condition.
Switching back to ETH wallet
Open the zkSync wallet and swipe right on the wallet address bar to switch back to your ETH wallet.
For best security on large amounts of crypto, consider our hardware wallet, imKey. imKey also allows users to use zkSync and supports Layer 2 ecosystem.
Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.