Bitfinex to List zkSync’s Native Token ZK, Enhancing Ethereum Scalability

Bitfinex,
a
premier
digital
asset
trading
platform,
has
announced
that
it
will
be
listing
ZK,
the
native
token
of
zkSync,
according
to

Bitfinex
Blog.
zkSync
is
a
Layer-2
rollup
protocol
designed
to
scale





Ethereum.

zkSync
Protocol
and
Its
Features

Initiated
in
2020,
zkSync
aims
to
scale
Ethereum
without
compromising
the
network’s
security
or
decentralization.
It
employs
zero-knowledge
rollups,
commonly
referred
to
as
“zk-rollups,”
to
consolidate
multiple
transactions
into
a
single
one.
This
technology
enhances
transaction
throughput
while
significantly
reducing
user
fees.
zkSync
reportedly
has
a
Total
Value
Locked
(TVL)
of
over
$860
million.

Utility
of
the
ZK
Token

The
native
token
of
zkSync,
ZK,
provides
several
utilities
for
its
holders.
These
include
staking
for
rewards,
paying
network
fees,
and
participating
in
governance
voting.
Such
functionalities
are
crucial
for
promoting
the
scalability
and
decentralization
of
blockchain
networks,
which
are
essential
for
the
mainstream
adoption
of
Web3
technologies.

Statements
from
Bitfinex

Henry
Child,
Head
of
Tokens
at
Bitfinex,
commented
on
the
listing:
“Projects
looking
to
promote
scalability
and
decentralization
are
absolutely
critical
to
the
future
of
web3
and
its
mainstream
adoption.
We
are
excited
to
add
ZK
as
the
latest
offering
among
our
diverse
slate
of
digital
assets.”

How
to
Access
ZK
on
Bitfinex

Customers
interested
in
accessing
ZK
on
Bitfinex
can
do
so
once
it
becomes
available
by
visiting
the
platform’s
website.
It
is
important
to
note
that
all
users
of
Bitfinex
are
subject
to
the
platform’s
terms
of
service.
U.S.
persons
and
other
prohibited
individuals
are
strictly
forbidden
from
holding,
owning,
or
operating
an
account
on
Bitfinex.

About
Bitfinex

Founded
in
2012,
Bitfinex
is
a
digital
token
trading
platform
that
offers
state-of-the-art
services
for
traders
and
global
liquidity
providers.
The
platform
provides
advanced
trading
features,
charting
tools,
peer-to-peer
financing,
an
OTC
market,
and
margin
trading
for
a
wide
range
of
digital
tokens.
Bitfinex
focuses
on
delivering
unparalleled
support,
tools,
and
innovation
for
experienced
traders
and
liquidity
providers
globally.

Image
source:
Shutterstock