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PANews reported on December 8th that, according to The Block, ZKsync announced on Sunday that it plans to discontinue ZKsync Lite (formerly ZKsync 1.0), the original zero-knowledge rollup solution launched on Ethereum in 2020, sometime next year. In its announcement, ZKsync stated that this is a planned and orderly system phase-out, that the system has fulfilled its mission, and will not affect any other ZKsync systems. The team will release specific details, dates, and migration guidelines next year. According to L2BEAT data, although ZKsync Lite currently processes fewer than 200 operations per day, approximately $50 million in user funds remain on the network. ZKsync stated that the funds are safe, and withdrawals to L1 will continue to operate normally throughout the process. ZKsync emphasized that this discontinuation will not affect its other products. Matter Labs, the company behind ZKsync, reportedly launched the fully functional zkEVM, ZKsync Era, in March 2023. This system could run arbitrary smart contracts, and they have since ceased active development of ZKsync Lite. The team stated that their focus will now be on systems built on the ZK Stack, Prividiums, and the broader ZKsync network.

BitcoinWorld zkSync Lite Shutdown: The End of an Era for Ethereum’s First ZK Rollup In a significant move for the Ethereum scaling landscape, the team behind zkSync has announced the planned shutdown of its pioneering zkSync Lite service next year. If you’ve been in the crypto space for a few years, you might remember this name as a trailblazer. But what does this shutdown really mean for the ecosystem […] This post zkSync Lite Shutdown: The End of an Era for Ethereum’s First ZK Rollup first appeared on BitcoinWorld.

Market analysts are highlighting the potential of blockchain to reshape property markets by creating new opportunities for digital ownership and […] The post RWA Sector Gains Attention as Blockchain Meets Real Estate appeared first on Coindoo.