Blockchain
Bitfinex lists zkSync’s native ZK token, improving Ethereum’s scalability
Bitfinex, a leading digital asset trading platform, announced that it will list ZK, zkSync’s native token, according to Bitfinex Blog. zkSync is a Layer-2 rollup protocol designed to be scalable Ethereum.
zkSync protocol and its characteristics
Started in 2020, zkSync aims to scale Ethereum without compromising the security or decentralization of the network. Use zero-knowledge rollups, commonly referred to as “zk-rollups,” to consolidate multiple transactions into a single one. This technology improves transaction productivity by significantly reducing user fees. zkSync reportedly has a total value locked (TVL) of over $860 million.
Utility of the ZK token
zkSync’s native token, ZK, provides several utilities to its holders. These include wagering for prizes, paying network fees and participating in voting on governance. Such capabilities are crucial to promoting the scalability and decentralization of blockchain networks, which are essential for the mainstream adoption of Web3 technologies.
Bitfinex Statements
Henry Child, Head of Tokens at Bitfinex, commented on the listing: “Projects that seek to promote scalability and decentralization are absolutely critical to the future of web3 and its mainstream adoption. We are thrilled to add ZK as the latest offering in our broad range of digital assets.”
How to access ZK on Bitfinex
Customers interested in accessing ZK on Bitfinex will be able to do so once it becomes available by visiting the platform’s website. It is important to note that all Bitfinex users are subject to the platform’s terms of service. US citizens and other prohibited persons are strictly prohibited from holding, owning or operating an account on Bitfinex.
About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform offering cutting-edge services for global traders and liquidity providers. The platform offers advanced trading features, charting tools, peer-to-peer financing, an OTC marketplace, and margin trading for a wide range of digital tokens. Bitfinex focuses on providing unprecedented support, tools and innovation for expert traders and liquidity providers globally.
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