1inch Network, a decentralized exchange (DEX) aggregator, has integrated ZKsync, a layer-2 scaling solution for Ethereum, to enhance its cross-chain swapping capabilities. This integration enables users to execute cross-chain swaps with lower fees and faster transaction speeds compared to Ethereum's main network, leveraging the security of the Ethereum blockchain.
1inch Network has integrated ZKsync, a layer-2 scaling solution for Ethereum, to offer faster and cheaper cross-chain swaps . ZKsync, built on zero-knowledge technology, provides lower gas fees and faster transaction speeds compared to Ethereum's main network while maintaining Ethereum's security. This integration allows 1inch Network users to seamlessly execute cross-chain swaps involving ZKsync.
1inch revealed that this feature, powered by its “Fusion+” technology and launched in beta last September, has already facilitated millions in trading volume. This move by 1inch Network is expected to significantly increase trading volumes and user adoption, according to Sergej Kunz, co-founder of 1inch. 1inch's system offers an alternative to traditional bridging methods. Instead of users covering network fees, they are covered by “resolvers” who stake 1INCH tokens to gain this status. These resolvers compete with each other to ensure users receive the best possible rates. 'Lower fees, faster finality, and enhanced security should attract both seasoned DeFi users and newcomers, fueling broader market participation and liquidity growth across the 1inch ecosystem,' Kunz explained. ZKsync offers significantly lower gas fees compared to Ethereum's main network while boosting transaction speeds. It leverages the security of the Ethereum blockchain and aims to reach 10,000 transactions per second. The network is also exploring technologies that could potentially eliminate transaction fees in the future.
1Inch Network Zksync Layer-2 Scaling Cross-Chain Swaps Defi
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