A surge in DeFi applications building on zkSync has led to demand for stablecoins that support the blockchain.
Stablecoin issuer Circle has expanded support for its native stablecoin, USD Coin (USDC), to Ethereum zero-knowledge layer-2 solution zkSync.
“Many leading ecosystem apps and DeFi protocols are expected to support native USDC on zkSync for payments, trading, borrowing, lending,” wrote Circle in its April 9 announcement. Developers can use USDC on zkSync to build on a stable foundation that is built to last and officially supported by Circle. With the addition of zkSync, USDC is now supported on 16 blockchains, including Ethereum, Solana, Base, Arbitrum and others.
Zero-knowledge proofs determine the integrity of a transaction without disclosing the supporting evidence. Meanwhile, rollups bundle transactions off the Ethereum main layer and club them into a single transaction. Together, they form the core of the zkSync technology, which processes transactions at record speed and low cost at layer 2 and sends the finalized proof back to the Ethereum mainnet. As of April 9, 2024, the zkSync ecosystem includes over 180 decentralized applications and over 5.7 million unique active wallet addresses over the last 30 days.
