ZK Rollup Projects – What You Should Know About Them in 2022

There a few different types of ZK Rollup projects that are designed by specific companies for certain functions.

ZK Rollup, which stands for a zero-knowledge rollup, is a type of Layer 2 Blockchain technology that offers storage off-chain and performs computations when funds are present in smart contracts. There are a few different types of ZK Rollup projects that are designed by specific companies for certain functions. Thus, this article discusses some of these projects and the companies that use them. 

List of ZK Rollup Projects

zkSync

zkSync is a ZK Rollup project created by Matter Labs. This project is a secure, trustless (meaning that you don’t have to involve or trust a third party), user-centric protocol that’s used to scale smart contracts and payments on Ethereum. Its’ product is the zkWallet. Some companies that use zkSync include Golem, Balancer, GitCoin, Argent, Curve, etc. 

LoopRing

LoopRing is another ZK Rollup solution that is being used by multiple companies. This particular solution is a payment and exchange protocol. It also has a product called LoopRing Exchange & Mobile Wallet.

This technology also has its own token, $LRC. Users can use these tokens for payments and exchanges. Some of the companies that use LoopRing include the following:

  • Rails, which allows users to transfer all ERC20 tokens and ETH from their wallet to that of others within LoopRing L2
  • Golem
  • pNetwork

StarkWare

StarkWare is a ZK Rollup project that’s designed to improve privacy and scalability in blockchains that use STARK technology. Thus, it provides zero-knowledge cryptographic proofs that are also transparent (i.e., they don’t require a trusted setup), succinct, and post-quantum secure.

StarkNet

StarkNet is Layer 2 product by StarkWare that was created to eliminate the scaling problem with Ethereum, reducing high transaction costs. This technology is relatively new, but it has shown promising in marring the security that comes with Ethereum and the need for reduced fees. StarkNet was deployed on an Ethereum-run market for crypto derivatives, dYdX. 

Aztec

Aztec is a Layer 2 network that also brings privacy and scalability to Ethereum. This project uses zkSNARK proofs for the scaling and privacy features. It is an open-source platform. 

Polygon Hermez

Polygon Hermez is an EVM-compatible ZK Rollup solution designed to provide fast and safe transfers of ERC20 tokens. This open-source ZK Rollup project is particularly unique due to its protocol titled “proof of donation.” With this protocol, 40% of winning bids are returned as donations for reinvestment purposes. A growth of 116% in twelve months and a market value of over $124 million for its native token $HEZ is an indicator of how successful this project has become. 

Optimism 

Optimism is an extremely cost-effective and fast alternative to transactions of Ethereum. Many Ethereum dApps are using Optimism to improve speeds and reduce costs. Connext is one company that’s using Optimism for the Ethereum network. While this ZK Rollup solution is growing, it hasn’t become as commonly used as others due to the lack of investment because of no dedicated token. 

Arbitrum One

Arbitrum One scales Ethereum transactions with the use of bridges rollups and other tools. It has three major features, which include the following:

  1. Developers do not need a setup in the testnet to use Arbitrum One
  2. It offers L1/L2 interoperability
  3. It has running nodes

Some companies that are part of the Arbitrum ecosystem are listed below:

  • Curve 
  • Balancer 
  • MCDEX
  • Coinbase Wallet

Last Few Words

While there are many more ZK Rollup projects out there, many of them are focused on scaling Ethereum transactions. Thus, many companies are starting using ZK Rollup technology to help limit their own costs, which can also be to the users’ benefit.

Don’t Stop Here

More To Explore

Optimistic Rollup versus ZK Rollup

Optimistic Rollups vs ZK Rollups?

Rollups process transactions off-chain, primarily on a rollup-specific chain, and then batches, compresses, and delivers the transaction data to the main Ethereum chain.