In a recent development, a new Layer 2 network, Scroll zkEVM has gone live on its mainnet without any prior official announcement. The network promises to offer higher scalability and efficiency to applications running on Ethereum.
Quick Take:
- Scroll zkEVM goes live without any official announcement.
- The platform already has over 330 ETH bridged to it, 500 users, and 850+ transactions.
- Scroll promises low transaction fees and increased security through zkEVM.
The on-chain data suggests that the Ethereum Layer 2 network has inaugurated its zkEVM on the mainnet, while funds are continuing to be bridged to the platform. Initial estimates suggest that more than 330 ETH are already bridged to the platform. This amounts to $515,000 at the time of writing.
The newly launched network has already received more than 850 transactions from over 500 users. This shows a good start to the network. As per blockchain analysts, bridge deployment on Scroll was started on October 8, 2023.
As the word goes out, many users are adding the mainnet to their web3 wallets. They use MetaMask and other wallets to transfer funds from different Ethereum-based networks to the launched zkEVM through third-party bridges. The lowest bridging amount currently stands at only 0.0035 ETH.
Scroll Promises Low Fees and High Security Through its zkEVM
Scroll believes that the use of zkEVM will help the network achieve fast and cheap transactions. At the same time, Scroll will also stay compatible with the Ethereum smart contract platform. Analysts claim that over 4,000 wallets are already onboard with the network.
The protocol claims to offer support for thousands of transactions per second with the recent launch. Moreover, zkEVM will also allow Scroll to ensure minimal transaction fees while maximizing user security.
Reports suggest that several decentralized applications (dApps) have also integrated with the Scroll mainnet. These include ScrollSwap and Merkly. Moreover, three other SEXs have hopped onto the platform, taking the total locked value (TVL) beyond $150,000. This figure will continue to increase with the integration of more platforms in the coming days.
Ongoing Journey and Future Plans
Scroll has not revealed any plans to launch its network’s native token. However, many users have spread rumors about an upcoming token, named SKL or SCRL. They also believe that the token will be distributed among the network’s community through airdrops and liquidity mining programs.
The network has been continuing to develop for the last two years with a team of 60 members. Moreover, many external partners and contributors also work in coherence with the in-house team members.
With the launch of zkEVM, Scroll is entering a new phase. Many projects, like StarkNet and Arbitrum, already work on zkEVM for Ethereum scalability. Therefore, it could be the beginning of a new era for the network. By offering a seamless user experience, it could be well on its way to gaining more acceptance among its users.
