Cronos Labs Unveils zkEVM Mainnet, Pioneering a New Era in Ethereum Scaling
Cronos Labs has made a significant leap in blockchain technology by officially launching the Cronos zkEVM on the mainnet, establishing it as the first third-party layer-2 ZK chain beyond the ZKsync Era. This innovative development is the culmination of collaboration between Cronos Labs and a diverse team of engineering experts from Matter Labs, Crypto.com, VVS Finance, Fulcrom Finance, Veno Finance, and over 20 other launch partners.
The Cronos zkEVM blockchain, built on Ethereum and leveraging cutting-edge ZKsync technology, transitions from its successful testnet phase—where it processed millions of transactions and served over three million unique addresses since its debut in December 2023—to full mainnet deployment. Now live, Cronos zkEVM will integrate seamlessly with Cronos EVM and Cronos POS, platforms that have collectively safeguarded more than $6 billion in user assets and processed over 150 million transactions for a global user base exceeding one million.
The new network's primary gas token is zkCRO, a liquid staked variant of the CRO token, introducing a fresh approach to transaction fees. Notably, account abstraction allows users unprecedented flexibility by enabling gasless transactions or payments in a variety of tokens.
Ken Timsit, Managing Director of Cronos Labs, highlighted the broader implications of this launch, emphasizing that it is a critical milestone in Ethereum's journey toward widespread adoption and limitless scalability. Anthony Rose, CTO of Matter Labs, echoed this sentiment, acknowledging Cronos zkEVM as a pivotal achievement as the first ZK chain to launch after the Era.
Security is further enhanced through a native Ethereum bridge secured by Ethereum smart contracts, ensuring robust protection over third-party bridges that support Cronos zkEVM.
The network enjoys extensive support from numerous launch partners, including self-custodial wallets like Crypto.com, DeFi wallet Rabby, and MetaMask, alongside a vibrant ecosystem of decentralized applications spanning the DeFi, NFT, and gaming sectors. Additionally, the Cronos zkEVM Pioneer Program offers users further incentives, with loyalty points redeemable for various rewards.
Already, the ZK Nation airdrop has distributed over 5,000,000 ZK tokens, contributing to a substantial rewards pool for the Pioneer Program. The mainnet alpha phase of Cronos zkEVM will continue until the end of September 2024, during which the network’s performance will be meticulously monitored before advancing to the beta phase, setting the stage for the next chapter in Ethereum's evolution.