zkSVM is a decentralized Layer 2 scalability solution that uses cryptographic zero-knowledge proofs to offer validity and quick finality to off-chain transaction computation, also known as a ZK-Rollup. zkSVM is a powerful technology that combines the speed and security boost of zero-knowledge cryptography with the standardization of coding in the Ethereum Virtual Machine. It provides an extra shield to protect the security of transactions, which is particularly important given the major drawbacks of Ethereum, such as difficult scalability and high transaction costs. With zkSVM, solutions can leverage this technology to deliver superior network outcomes, creating a more secure and transparent future for blockchain applications. In essence, zkSVM is a game-changing technology that enables faster and more secure transactions on the blockchain, ultimately driving innovation and growth in the space.

Because of zkSVM’s high security and its censorship resistance nature, it is a good fit for DeFi applications. Unlike Optimistic Roll-ups where users have to wait for up to 7 days for deposits and withdrawals, ZK-rollups don’t have to wait for long periods in order to deposit/withdraw. Low gas cost, high TPS, and greater security level coupled with Ethereum composability will surely attract blue chip NFTs, GameFi, and Enterprise applications to build on top of zkSVM.

The major components of zkSVM are:

• Consensus Contract (ZkSEVM.sol)
• zkNode
• zkProver
• zkEVM Bridge.

Users can earn rewards by staking their ZKSVM tokens, which helps to secure the network and maintain its decentralization. Holders of ZKSVM tokens can participate in governance decisions related to the protocol, including voting on proposals and changes to the protocol.