ZK Stack, the code framework launched by Matter Labs in mid-year, allows developers to build custom, autonomous blockchains known as hyperchains.
Hyperchains are blockchains powered by zero-knowledge or ZK technology, running in parallel to zkSync Era, known as L2 networks, or on top of the chain, known as L3 networks.
The design of these blockchains allows increasing scalability and guaranteeing the creation of an interconnected and interoperable ecosystem in zkSync Era.
Recently, zkSync development team Matter Labs announced that GRVT, a hybrid exchange platform that combines CEX and DEX, will operate as a hyperchain in the zkSync ecosystem.
Thus, Gravity has become the first official hyperchain of zkSync Era, which will be able to connect with the entire set of decentralized applications (DApps) that run in this blockchain ecosystem.
As mentioned, Gravity (GRVT) is the first hybrid cryptocurrency exchange. By combining the features of centralized exchanges (CEX) with decentralized exchanges (DEX), it results in a centralized self-custody platform that offers “a centralized financial experience while maintaining self-custody and composability.” This is what GRVT is.
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Gravity, zkSync's first hyperchain aimed at the Web1 derivatives market
Gravity will operate as a hyperchain on zkSync using the ZK stack, allowing it to connect to DApps on the network, including sovereign hyperchains via Hyperbridge.
As the developers explain, the objective behind this initiative is to offer an innovative and revolutionary financial experience to unbanked users, who do not have access to the traditional financial system, and to native Web3 users. In this way, these users will be able to enjoy the self-sovereignty that characterizes the DeFi ecosystem along with the user experience of the mass market of centralized finance or CeFi.
“Think Robinhood user experience, but decentralized with self-custody funds and wallets like Uniswap,” Matter Labs developers noted.
Thanks to zkSync Era, Gravity will be able to more efficiently address the challenges facing CEXs and DEXs today. The hybrid exchange will leverage the security, scalability and composable features of zkSync hyperchains to maximize the speed at which trades are executed and strengthen data privacy guarantees, in order to serve both individual users and institutional clients.
“The zkSync Hyperchain, which functions as a private application chain, emerges as the ideal solution as it perfectly addresses all of these criteria,” said Gravity CTO Aaron Ong.
Scale to 600 thousand transactions per second
The attributes of zero-knowledge (ZK) technology will allow Gravity to enable new speed parameters for the execution of operations. The hybrid exchange platform seeks to process 600.000 transactions per second (TPS) through zkSync's modular framework.
Additionally, through this modular framework, Gravity will be able to settle trades deterministically and achieve lower latency trade settlement and clearing, Matter Labs explained.
Another advantage for Gravity to build using the ZK Stack is that it will be able to scale out its underlying infrastructure, for example by running different order books as dedicated app chains. In turn, this will allow traditional market makers to provide liquidity as they would on a CEX, overcoming one of the current challenges of DEXs and AMMs (Automated Maket Maker).
All these advantages of the zkSync Era ecosystem will make Gravity a platform optimized for the Web3 derivatives market, reshaping traditional finance and unlocking the value potential of the Internet.
Gravity developers highlighted that zkSync Era tools will help them build an ideal crypto platform, focused on security and scalability, to incorporate the next 1 billion users to trade cryptocurrencies, while Matter Labs developers extended an invitation to more projects to join the zkSync Era hyperchain ecosystem.
Continue reading: Matter Labs hands over management of the zkSync DApp ecosystem to DappRadar
