ZKsync said it would focus its resources on its Elastic Network, an architecture that aims to transform the platform into an ecosystem of interconnected zero-knowledge (ZK) chains.“Our long-term vision for ZKsync is increasingly centered on the Elastic Network, and we want to focus our resources to accelerate this becoming a reality,” the project stated. It said that pouring its resources into a single-chain program does not align with this interoperability goal. Cointelegraph reached out to Matter Labs, the company behind ZKsync, for comment, but had received no response at the time of writing.
Source: ZKsync IgniteNavigating a bearish crypto marketThe team acknowledged that current market conditions influenced the decision to end Ignite.“To stay sustainable, we’re tightening our focus and spending smarter rather than fighting headwinds,” the team said. ZK tokens performed well in 2024, reaching a high of $0.26 on Dec.8.
Source: CoinGeckoRelated: ZKsync targets 10K TPS and sub-zero fees by 2025 roadmap goalsZKsync Ignite boosted the project’s TVL to $270 millionAccording to ZKsync, the program surpassed its goal of driving DeFi total value locked (TVL) to $100 million.
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Author / Journalist: Cointelegraph by Ezra Reguerra
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