ZKsync rolls out Atlas to court banks and enterprises

ZKsync has launched the Atlas upgrade to help banks and enterprises move operations to the blockchain.

Atlas is an upgrade to the ZK Stack. It offers faster transactions, sub-second proofs, and cross-chain interoperability. Moreover, it makes blockchain infrastructure fit for large-scale payments, tokenized assets, and institutional settlement.

Atlas pushes ZKsync toward 25k TPS

The new upgrade brings a new high-performance sequencer capable of processing 25,000 to 30,000 transactions every second. The sequencer is fully compatible with Ethereum apps, and it integrates a new system named Airbender. 

Airbender focuses on validating and proving transactions in less than one second. Matter Labs, the entity behind ZKsync, explained that the Atlas update focuses on helping enterprises create blockchain systems that retain privacy while communicating with other chains and markets freely. The update also powers blockchain systems built for tokenized assets, fast payments, and global payment settlement at scale.

Developers building on ZKsync can work with several types of virtual machines since Atlas supports this approach. According to Matter Labs, this approach ensures banks and enterprises can deploy faster while preserving decentralization and security. 

ZKsync tests the sequencer live on X

ZKsync went live on X today to test the sequencer load of the Atlas update. The stream, which lasted for over 4 hours, showcased a dashboard consisting of a real-time oracle of Apple’s stock AAPL price in US dollars. It also showed other metrics, including transaction per second (TPS), current gas price per second, and transaction inclusion latency.

The sequencer processed around 18,000 transactions. It also showed the number of maximum transactions to be processed, which fluctuates between 19,000 and 20,000. The test basically showed the Atlas update handling tokenized stock using real-time price oracles, while processing transactions through the sequencer. 

A user on X asked if the sequencer is centralized. He wrote, “Is the sequencer centralized? is it a single one? or there are multiple with verifiability in between?” Anthony Rose, the CTO of Matter Labs, replied and explained that the test was conducted with a centralized sequencer, but the ZK Stack supports other setups. 

Rose wrote, “The ZK Stack supports other setups, including having a POA / 2FA style approach. In this you have two independent sequencers w/ different client implementations required to agree on the state transition (which of course also requires the ZK proof).”

The CTO clarified that decentralizing the full sequencer will be a ZK Stack option as the systems reach full maturity.  

ZKsync’s native token, ZK, has been performing poorly. The token is down by 4.3% in the past 24 hours, and it’s currently exchanging hands at $0.055. ZK has a market cap of $401 million with a trading volume of $1.16 billion. According to CoinGecko, ZK has recorded an all-time high of $0.321 over a year ago; however, the token did not bounce back, even with the current market euphoria.