Binance Integrates Ethereum on zkSync Era Network
Zach Anderson Sep 07, 2023 10:58
Binance integrates Ethereum on zkSync Era network, improving security with zero-knowledge cryptography. Deposits and withdrawals via "Deposit Crypto" take 24-hours due to zkSync Era Finality procedures.
Binance, one of the world's leading cryptocurrency exchanges, announced today that it has successfully integrated Ethereum (ETH) on the zkSync Era network. As of the announcement, deposits and withdrawals of Ethereum (ETH) tokens via the zkSync Era network are available to users.
zkSync Era is a layer 2 protocol enhancing Ethereum's security using zero-knowledge cryptography. It aims to boost crypto adoption for individual sovereignty, believing freedom today hinges on cryptography. Ethereum, as the most decentralized blockchain, offers sovereignty to billions. zkSync Era amplifies Ethereum's core values like trustlessness, unrestricted access, censorship resistance, and community-driven decentralization.
Users looking to deposit Ethereum (ETH) on the platform can locate their specific Ethereum (ETH) deposit address on the zkSync Era network through the "Deposit Crypto" page provided by Binance. Additionally, the Ethereum (ETH) smart contract address associated with the zkSync Era network has been made accessible to users.
Users should note that, owing to the zkSync Era Finality procedures, Ethereum (ETH) deposits on the zkSync Era network will necessitate a 24-hour waiting time before reflecting in their Binance accounts.
Should there be any discrepancies between the translated versions of this announcement and the original English text, the English rendition will be considered authoritative.
The implementation of zkSync Era provides users enhanced security and privacy, addressing growing concerns in these areas. Recently, Blockchain.News highlighted a paper co-authored by Vitalik Buterin on Blockchain Privacy and Compliance, which utilizes zero-knowledge proofs. This insight was shared by one of the paper's authors.
Image source: Shutterstock