In a move that could potentially bring a new Ethereum layer-2 scaling protocol to the masses, Coinbase has added Zksync (ZK) to its listing roadmap. This development puts the token on the path to being listed on the prominent US crypto exchange, where it could be bought and sold by users.
What is Zksync (ZK)?
Zksync (ZK) is a native asset of an Ethereum layer-2 scaling protocol that describes itself as “an ever-growing verifiable blockchain network, secured by math.” The project is a ZK rollup, one of the two primary forms of rollup solutions that process transactions outside of Ethereum’s blockchain while still providing transactional data. ZK rollups perform computations off-chain and then submit a validity proof, whereas Optimistic rollups automatically assume transactions are valid.
Key Features of Zksync (ZK)
According to Zksync’s whitepaper, the project is designed to “look and feel like Ethereum, but with a higher throughput and lower fees.” The platform supports smart contracts written in Solidity/Vyper, which can be called using the same interfaces as other EVM-compatible chains. Additionally, Zksync supports existing Ethereum wallets out of the box, eliminating the need for users to register a separate private key.
Token Performance and Market Cap
The ZK token launched in mid-June and is currently trading at $0.988. The 156th-ranked crypto asset by market cap has experienced a slight decline of nearly 2% in the past 24 hours.
Coinbase’s Listing Roadmap
Coinbase created its listing roadmap in 2022 to increase transparency and prevent front-running of token launches. The roadmap provides a clear outline of the steps required for a token to be listed on the exchange, including technical integration, regulatory compliance, and market demand.
Implications of Zksync (ZK) Listing on Coinbase
If Zksync (ZK) is ultimately listed on Coinbase, it could bring several benefits to the project, including:
- Increased liquidity and trading volume
- Greater visibility and exposure to a wider audience
- Potential for increased adoption and usage of the Zksync protocol
- Access to a broader range of investors and traders
However, it’s essential to note that inclusion on the listing roadmap does not guarantee a listing on Coinbase. The exchange will still need to conduct a thorough review of the project before making a final decision.
Key Takeaways:
- Coinbase has added Zksync (ZK) to its listing roadmap, potentially paving the way for a listing on the US crypto exchange.
- Zksync (ZK) is a native asset of an Ethereum layer-2 scaling protocol that uses ZK rollup technology.
- The project supports smart contracts and existing Ethereum wallets, and its token is currently trading at $0.988.
- Coinbase’s listing roadmap provides a clear outline of the steps required for a token to be listed on the exchange.
Disclaimer
Readers are encouraged to conduct their own research and consult with a financial professional before making any investment decisions based on this content.
