The rumored upcoming AirDrop for upcoming Layer 2 solutions zkSync Era and StarkNet has propelled the projects’ network activities significantly. According to reports, the increasing network activities of both solutions are eating into the dominance of Polygon, the more established Layer 2 protocol in the DeFi sector.
zkSync Era
zkSync Era is a Layer 2 scaling solution for Ethereum that uses zero-knowledge proofs (ZKPs) to achieve scalability and security. The project is currently in its beta testing phase, and it has already seen significant growth in network activity. In the past week, the number of unique addresses interacting with the zkSync Era network has increased by over 500%. This growth is likely due to the anticipation of the upcoming AirDrop, which is expected to reward early users of the network.
zkSync Era uses a novel approach to Layer 2 scaling called optimistic rollups. Optimistic rollups allow for fast and cheap transactions by batching them together and then submitting them to the Ethereum main chain. The main chain then verifies the transactions and updates the state of the network. If a fraud is detected, the network can roll back to the previous state.
zkSync Era is one of a number of Layer 2 scaling solutions that are vying to become the dominant solution for Ethereum. Other projects in this space include StarkNet, Loopring, and Arbitrum.
StarkNet
StarkNet is another Layer 2 scaling solution for Ethereum that uses ZK rollups. ZK rollups are similar to optimistic rollups, but they use zero-knowledge proofs to verify transactions. This makes them more secure, but it also makes them more expensive.
StarkNet is backed by a number of high-profile investors, including Andreessen Horowitz and Coinbase Ventures. The project has also attracted a number of talented developers, including some who have worked on previous Layer 2 scaling solutions.
Impact on Polygon
The growth of zkSync Era and StarkNet is having a significant impact on Polygon. Polygon is a Layer 2 scaling solution that uses sidechains. Sidechains are separate blockchains that are connected to Ethereum. This allows for faster and cheaper transactions, but it also introduces security risks.
In the past week, the number of unique addresses interacting with the Polygon network has decreased by over 10%. This decline is likely due to users switching to zkSync Era and StarkNet in anticipation of their AirDrops.
The growth of zkSync Era and StarkNet is a sign that the Layer 2 scaling space is maturing. There are now a number of viable solutions available, and users are starting to choose the solutions that best meet their needs.
Polygon founder has not ruled out the possibility of a future airdrop.
Polygon founder Sandeep Nailwal has not ruled out the possibility of a future AirDrop for the project. In a recent tweet, Nailwal said that he is “open to the idea” of an AirDrop, but that it is not currently being planned.
If Polygon does launch an AirDrop, it could help to boost the project’s adoption. However, it is important to note that AirDrops are not a sustainable way to grow a project. In the long run, Polygon will need to focus on providing a valuable service to users in order to maintain its dominance in the Layer 2 scaling space.
Conclusion
The rumored AirDrops for zkSync Era and StarkNet are having a significant impact on the Layer 2 scaling space. Both projects are seeing significant growth in network activity, and they are eating into the dominance of Polygon. It remains to be seen whether Polygon will launch its own AirDrop in the future, but the project is facing increasing competition from zkSync Era and StarkNet.
