One of the biggest cryptocurrency exchanges in the world, Binance, revealed today that it has integrated Ethereum (ETH) on the zkSync Era network successfully. Users can now deposit and withdraw Ethereum (ETH) tokens via the zkSync Era network as of the announcement.
A layer 2 protocol called zkSync Era uses zero-knowledge cryptography to increase the security of Ethereum. It aspires to increase the use of cryptocurrency because it believes that today’s freedom depends on cryptography. Ethereum gives billions of people sovereignty as the most decentralised blockchain. Ethereum’s key principles, including as trustlessness, open access, censorship resistance, and community-driven decentralisation, are strengthened by the zkSync Era.
On the zkSync Era network, users seeking to deposit Ethereum (ETH) can get their individual Ethereum (ETH) deposit address by visiting the “Deposit Crypto” link offered by Binance. The zkSync Era network has also made the Ethereum (ETH) smart contract address available to users.
Users should be aware that deposits made using Ethereum (ETH) on the zkSync Era network will require a 24-hour waiting period before appearing in their Binance accounts due to the zkSync Era Finality procedures.The English text of this announcement shall be taken as authoritative if there are any differences between the translated versions and the original English text.
Users now have improved security and privacy thanks to the deployment of zkSync Era, which addresses growing concerns in these areas. Recently, Blockchain.News featured a report on blockchain privacy and compliance that Vitalik Buterin co-authored and uses zero-knowledge proofs. One of the authors of the paper shared this observation.