zkSync Ecosystem Outpaces Polygon in Total Value Locked
Ethereum’s zkSync Ecosystem, a prominent developer platform, has recently achieved a significant milestone. It has surpassed Polygon, a notable competitor, in terms of Total Value Locked (TVL). This notable growth is largely due to the successful launch of zkSync’s layer-2 scaling protocol known as Era.
zkSync’s Layer-2 Scaling Protocol Era Fuels Growth
The Era protocol debuted on March 24 and has since been the driving force behind the impressive expansion of the zkSync Ecosystem. When comparing zkSync with Polygon, which recently launched the Ethereum Virtual Machine (EVM) counterpart zkEVM, it’s evident that zkSync has gained more traction in terms of TVL.
Crypto market intelligence firm Messari highlighted zkSync’s impressive growth in a recent tweet to its 313 thousand followers. The tweet lauded the remarkable success of the zkSync Ecosystem “in the few weeks since the launch of zkSync’s Era.”
Messari Notes zkSync’s Impressive TVL
Messari shed light on zkSync’s notable growth by revealing, “at the end of Q1, zkSync had nearly $200M in TVL across its ecosystem while Polygon’s zkEVM had seen little adoption in comparison.”
The key distinction between the two platforms lies in their compatibility with Ethereum’s EVM. zkSync Era is EVM compatible, offering a smooth transition for developers and users from the Ethereum network. In contrast, Polygon’s zkEVM is EVM equivalent.
zkSync’s TVL Shows Remarkable Growth
Since the introduction of Era, zkSync’s TVL has witnessed substantial growth and has reached a remarkable $200 million. On the other hand, Polygon’s TVL has remained relatively stagnant, hovering around $2.2 million.
This significant achievement signals zkSync’s promising position within the blockchain and crypto space, particularly concerning layer-2 scaling solutions. As Ethereum’s scaling issues continue to be a hot topic, the success of the zkSync Ecosystem offers a promising alternative that is gaining substantial traction among users and developers.