1inch integrates ZKsync to enhance cross-chain exchange speed and reduce costs

ChainCatcher news, according to CoinDesk, the decentralized exchange aggregator 1inch Network has integrated the Ethereum Layer-2 scaling solution ZKsync, aiming to provide a faster and lower-cost cross-chain trading experience. ZKsync is built on zero-knowledge technology, offering faster transaction speeds and lower gas fees compared to the Ethereum mainnet, while inheriting Ethereum's security.

1inch stated that this integration utilizes its Fusion+ technology, which was launched in beta last September and has facilitated millions of dollars in trading volume. The system provides bridge-less, trustless cross-chain swaps, where network fees are paid by "relayers" who stake 1INCH tokens through a bidding mechanism, rather than users bearing the gas fees.

ZKsync is advancing its scaling plans, targeting 10,000 transactions per second and exploring the possibility of zero-fee transactions in the future. Recently, Swiss banking giant UBS has also been testing ZKsync technology to optimize its gold-backed financial products.