Decentralized Exchange (DEX) Aggregator 1inch Network has expanded its cross-chain Swapping possibilities by integrating ZKSync, a Layer-2-scale solution for Ethereum to offer faster and cheaper transactions when moving crypto between different networks.
The integration, announced through a press release that is shared with Coindesk, enables its users to seamlessly perform Cross-Chain Swaps with ZKSync. 1 Inch said that this function, powered by its “Fusion+” technology and was launched in Beta in September, has already facilitated millions in trade volume.
“With bridged, trust-geminimized cross-chain swaps that are now available on the ZKSync era, 1inch expects a remarkable increase in trade volumes and user adoptation,” Sergej Kunz, co-founder of 1inch, told Coindesk.
The 1 -inch system offers an alternative to traditional bridges. Network costs are covered by “Resolvers” instead of users themselves. These resolvers, who have to use 1 inch tokens to have that status, compete with each other to ensure that users get the best possible rates.
“Lower reimbursements, faster finality and improved security must attract both seasoned Defi users and newcomers, thereby fueling broader market participation and liquidity growth in the 1 -inch ecosystem,” Kunz
Built using zero-knowledge technology, a type of Layer-2-scale system, offers ZKSSync considerably lower gas costs compared to the most important network of Ethereum and at the same time increases transactions speeds. Despite this speed and cost benefits, the use of the safety of the Ethereum -Blockchain makes.
The Route map of ZKSync shows that the network aims to reach 10,000 transactions per second and investigates technologies that may eliminate transaction costs in the future.
Swiss Banking Giant UBS recently said it is the technology of ZKSync testing on one of his gold -supported financial products.
