Zero Knowledge Rollups provide a solution for blockchain scalability, allowing blockchains to execute faster and more transactions. ZK Rollups are Layer 2 Solutions. Layer 2 is a generic term for solutions designed to help networks scale further by handling transactions outside the network's main chain (Layer 1).
Zero Knowledge Rollups can grab thousands of transactions and process them into a single transaction. ZK rollup's smart contract then analyses and verifies the transaction. ZK Rollups reduces transaction costs, makes transactions faster and provides increased security.
Want to know more about Zero Knowledge Rollup Coins? Below, we list the top 10 ZK Rollup coins of 2023 for you. So read on quickly!
1. Dusk Network (DUSK)
Dusk Network (DUSK) is a blockchain whose primary purpose is to guard users' privacy. DUSK is a security token platform that aims to tokenise shares of companies within the Benelux region. Dusk Network is an open-source blockchain that companies can use to market shares more efficiently and cheaply. You can also build decentralised applications on DUSK's blockchain.
DUSK's network is designed to support financial applications that need a certain degree of privacy because they contain confidential information, for example. For this purpose, DUSK has developed the 'Confidential Security Contract' (XSC) standard. This token standard allows companies to digitise shares.
2. Syscoin (SYS)
Syscoin (SYS) is a global network, distributed ledger, decentralised database and blockchain. It is also a cryptocurrency, an altcoin, a digital currency and a tradable token. SYS is an open-source project that aims to bring together the features of Bitcoin and Ethereum.
SYS is a potentially revolutionary cryptocurrency enabling low-cost financial transactions like virtual currency. It also provides companies with the most secure business infrastructure for goods, assets, certificates and digital data.
3. Immutable X (IMX)
Immutable X (IMX) uses zero-knowledge cryptographic methods to create a fast, cheap, secure marketplace for NFTs. Platform users are also allowed to develop their own NFTs, all 100% carbon neutral. Immutable X (IMX) is the first Layer 2 technology that enables NFTs to scale on Ethereum. IMX offers low gas fees, and transactions are completed almost instantly. Immutable X makes it possible to trade and mine NFTs cheaply. Immutable X leverages the security and power of the Ethereum blockchain.
Immutable X is a cryptocurrency project that can meet the demand and requirements of developers, investors, traders and gamers in the cryptocurrency market with many advantages. IMX's layer two solution offers fast transactions, no transaction fees and good scalability for games and applications.
4. Mina Protocol (MINA)
Mina Protocol (MINA) is known as a lightweight blockchain. This lightweight blockchain is only 22kB at all times, allowing you to easily store the complete blockchain on your phone. The size of the MINA blockchain is different from how many transactions are processed. Usually, this does contribute to the size of a blockchain.
It takes more work to set up a node in a huge blockchain. The entire blockchain will have to be downloaded first for this. On the contrary, anyone can easily set up a node within Mina Protocol. This contributes to better scalability.
5. Aleph Zero (AZERO)
Aleph Zero (AZERO) is a Layer 1 blockchain that uses the Proof of Stake consensus mechanism. The blockchain is suitable for Web 3.0 and DeFi applications. The blockchain platform uses DAG (Directed Acyclic Graph) technology, making it incredibly scalable and decentralised.
AZERO aims to provide a scalable, secure and decentralised blockchain. This allows dApps developers to focus entirely on developing their applications without finding solutions to blockchain problems.
6. Loopring (LRC)
Loopring (LRC) is a decentralised and automated exchange protocol built on Ethereum's network. LRC is also an ERC20 token, allowing users to quickly and securely exchange assets between different exchanges. Loopring is a decentralised trading platform that enables interoperability between trading platforms, such as Binance.
LRC's trading platform eliminates price differences between trading platforms, creates liquidity, and ensures that trading platforms are no longer custodians of crypto-currencies. Loopring's system ensures that all orders and order books from different exchanges are combined and that trades can be made at the best prices possible. Through this system, users get a broader market, and as a result, costs often fall lower as well.
7. ZKSpace (ZKS)
ZKSpace (ZKS) is a platform consisting of the following main components: the ZKS cryptocurrency, an innovative Automated Market Maker (AMM) DEX using ZK-Rollups technology, the payment service ZKSquare and an NFT marketplace called ZKSea.
With an entire user interface, NFT support, unlimited token listing, smoother withdrawal, optimised efficiency and multi-chain support, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more Layer 2-based products in the future.
8. Mute (MUTE)
Mute (MUTE) is a decentralised exchange that uses zero-knowledge cryptography to enable fast private user transactions. Mute has been around since March 2021 but has quickly made a name in Zero Knowledge Rollups. Mute's trading/swap platform, known as Mute Switch, will run on the Ethereum blockchain and aims to become a privatised, faster and more technologically advanced version of Uniswap.
Users can use MUTE to earn transaction fees from the exchange. The platform's governance token, the secondary currency VOICE, can be used to participate in the ecosystem. Through VOICE, users can vote on proposals and create their own.
9. Telos (TLOS)
Telos (TLOS) is a network designed for use in various sectors and functions on the EOSIO software. Tokens based on Telos are used for DeFi, gaming and social media behind NFTs and smart contracts.
The TLOS network is Built for speed and scalability and uses the Ethereum Virtual Machine (EVM). Telos' blockchain supports the two leading standards, Solidity EVM and Antelope C++, for smart contract development.
10. MetisDAO (METIS)
The MetisDAO (METIS) project is a Layer 2 built for the Ethereum blockchain that focuses on growing decentralised communities (DAOs). MetisDAO creates an easy-to-use, highly scalable, low-cost and fully functional Tier 2 framework (Metis Rollup) to fully support migrating applications and businesses from Web 2.0 to Web 3.0.
Metis is a scalable solution that aims to revolutionise how people and businesses work together. Through a DAO's smart contract, all the rules of an organisation or community are set, and all users can have a voice to vote or propose changes.