Huobi Joins with zKSync for Faster and Low-Rate Blockchain

Huobi Global partners with zkSync, the latest ZK Rollup EVM-Compatible developed by Matter Labs. This is to offer faster and low-rate access Blockchain experience with good security as Ethereum, following Huobi Ventures’ strategic investment in Matter Labs’ recent round of funding.

Other than reducing gas prices, zkSync transactions offer a better user experience: instant confirmation of transactions, easy gas payment using any popular ERC20 token, and others. The native access to Solidity and the Web3 API makes transferring your L1 software straightforward for developers.

Huobi is working quickly to provide a direct on and offramp fiat to zkSync to meet this growing demand. Huobi customers will soon be able to deposit and withdraw assets from zkSync without having to pay any mainnet transaction fees, while zkSync users can get the benefit from Huobi’s liquidity and scalability.

Investment Manager of Huobi Ventures, JinBin Xie, said that the capital efficiency improvements of the 15-minute departure time for withdrawing the cash from the zkSync excite them the most as an exchange, and cannot wait to enroll all customers to the vast dApps ecosystem already committed to deployment. Huobi also wants to assist a whole new generation of dApp innovation emerging as a result of the introduction of zkSync 2.0’s data off-chain solution. zkPorter offers transactions of 1–3 cent costs while preserving compassable with the ZK Rollup.

About Huobi

Huobi Group, one of the reputed companies in the age of the digital economy, works with a purpose to develop some of the best fundamental Blockchain technologies by integrating Blockchain with different sectors. Huobi Group has extended its activities with industrial, public, digital asset trading, and more, with an emphasis on both upstream and downstream industries.

About Matter Labs

Matter Labs is the creator of Ethereum Zero-Knowledge Proof technology. In 2019, the business released the world’s first public ZK rollup prototype, was the first to perform ZK proofs on Ethereum, and in 2020, developed the world’s first realistic FPGA-based hardware for ZKP acceleration. zkSync is the first ZK rollup and is capable of creating native smart contracts in Ethereum smart contracts, thanks to Matter Labs’ recent introduction of a zkEVM testnet.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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