Welcome to the new Era: Zksync

    Introduction

    In this analysis, we will discuss the emergence of the Zksync Era bridge. Zksync, a layer-2 scaling solution for Ethereum, has recently launched its mainnet, which has generated much interest from users. With its fast and low-cost transactions, Zksync has become a viable alternative to Ethereum's congested network.

    Interestingly, the launch of Zksync's mainnet coincided with the Arbitrum Airdrop, a popular event that attracted a lot of users to the Zksync network.

    As a result, many users bridged their assets to Zksync via the Era bridge to increase their chances of receiving the Airdrop. This influx of users has led to a surge in activity on Zksync's network, highlighting its potential as a leading player in the Ethereum ecosystem.

    To gain a deeper understanding of the Zksync Era bridge and its impact on the network, we analyzed all user activities from Ethereum to Zksync.

    What is Zksync Era?

    The zkSync Era provides all of Ethereum's capabilities but at a faster and cheaper rate, all while ensuring the same level of security. It is classified as a Layer 2 scaling solution, meaning it is a network developed on top of Ethereum to enhance its scalability.

    By implementing Layer 2 scaling solutions like zkSync Era, users can enjoy a more efficient transaction process on Ethereum that is both cost-effective and speedy, resulting in an enhanced user experience. This article will concentrate on zkSync Era and Argent's decision to use it in their Layer 2 wallet while acknowledging that other Layer 2 solutions are also available.

    Method
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    Bridge Overview
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    Upon visiting the Zksync bridge website, I discovered that the Zksync Era bridge allows users to bridge five different assets. I decided to test the transfer process with two commonly used assets, ETH and USD and was provided with two contract addresses: 0x57891966931eb4bb6fb81430e6ce0a03aabde063 and 0x32400084c286cf3e17e7b677ea9583e60a000324 respectively. Using the ETH Transfer and EZ token transfer tables, I input these addresses in the Origin_to_address field and obtained a comprehensive record of all bridge activities and amounts in USD.

    To better understand the transaction process, I cross-referenced my findings with the Transaction table and extracted relevant transaction fees. With these data, I conducted an in-depth analysis of all activities associated with the Zksync Bridge Era.

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