1inch, the decentralised exchange (DEX) aggregator, announced on Thursday its integration with zkSync, the Ethereum layer-2 scaling solution that uses ZK-Roll up technology.
In a bid to make more faster and secure cross-chain transactions, 1inch will now enable its users to make frequent or smaller trades with much lower gas fees using zkSync’s Ethereum Layer-1 network. While giving full ownership of the assets, 1inch allows its userd to make the completion of cross-chain transactions in only few clicks.
Sergej Kunz, co-founder of 1inch, further shared his insights on the integration with Coingape, saying, “By deploying 1inch fusion+ on Zksync era, users can gain access to secure, cost-effective, and bridgeless cross-chain swaps. ZKsync Era’s zero-knowledge rollups offer higher throughput (can process thousands of transactions per second) and stronger security guarantees on Ethereum L1, all while maintaining lower transaction costs, thus, offering users benefits of cutting-edge scalability, better liquidity, and a robust security model.”
How zkSync can enable faster and multiple cross-chain swaps in one go
Using its zero-knowledge rollups (zk-rollups) on Ethereum layer 2, zksync’s integration is set to provide low-cost and secure cross-chain transactions for 1inch’s growing user base. The zkSync ecosystem integrated with 1inch, will provide users with best possible prices for token swaps, enabling higher returns for them. Without central intermediaries, users will be able to move funds seamlessly now between Ethereum and zksync.
Most significantly, after collaboration with 1inch’s Fusion+ technology, zkSync era will allow users to make multiple transactions with a single proof using zero-knowledge rollups (ZK-Rollups) of zkSync. The transactions are set to be faster, transparent, and private with zksyn saving time in settlements and cutting costs – reducing Ethereum gas costs by up to 100x. Furthermore, zkSync uses cryptographic proofs (SNARKs and STRAKs) to verify transactions before executing them due to which the risks related to layer 2 failures will also be minimised. As its 2025 roadmap, zkSync is also working towards enabling 10,000 transactions per second, thus, promising faster rate of cross-chain transaction for its users.
1inch – to become the go-to DEX aggregator?
1inch, with its beta launch in last September, has been witnessing an accelerating user base with its multi-chain blockchain networks available on Ethereum, Binance Smart Chain, Polygon Avalanche, Arbitrum, Optimism, Fantom (FTM) and Gnosis Chain.
Introducing more flexibility in trading between different networks, 1inch’s Fusion+ tech outweighs conventional bridging as it outsources network fees to resolvers. By scanning multiple DEXs such as Uniswap, Curve Balancer Sushiswap, it helps users to find the best trade prices to swap their tokens at – providing liquidity from multiple sources. And now, with this integration with zksync – which has been adopted by leading DeFi applications such as Uniswap and Ave – 1inch is all good to go to offer secure and quicker settlements for its cross-chain transactions.
Crossing over $544B+ in trading volumes with successful execution of 115M+ trades, 1inch can led the development of a compliant ecosystem for DeFi cross-chain swaps.
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