Ramp becomes the first on-ramp to support zkSync Era∎
Ramp becomes the first on-ramp to support zkSync Era∎
The future-proof zkEVM combines cutting-edge zero-knowledge proofs with the Ethereum Virtual Machine to preserve the ethos of freedom, self-sovereignty, and decentralization at scale.
Last edited on
April 7, 2023
On Friday, March 24th, Ramp became the first fiat-to-crypto on-ramp to support direct purchases into zkSync Era, hailed as the first ”zero-knowledge Ethereum Virtual Machine” (zkEVM).
This landmark achievement marks a significant step forward for the adoption of layer two scaling solutions, which have become increasingly popular as Ethereum's mainnet struggles to keep up with demand.
This means that users can now purchase cryptocurrencies directly on the zkSync Era network, starting with ETH and USDC, taking full advantage of the low gas fees and fast transaction times that zkSync Era offers without having to go through bridges into the new network.
What are Zero-Knowledge Rollups and Ethereum Virtual Machines?
ZK rollups, a type of blockchain scaling solution based on zero-knowledge proofs, have emerged as an innovative technology for improving the scalability of blockchain networks.
Among the different types of ZK rollups, zkEVM is a special type that is specifically designed for compatibility with the Ethereum Virtual Machine, which is widely used by developers to create and run smart contracts.
This compatibility ensures that developers who are already familiar with the Ethereum ecosystem can easily adapt their applications to zkSync Era.
Although zero-knowledge proofs were developed in the early 1980s, it’s taken years of research and development by blockchain developers to make ZK rollups available to general users with EVM compatibility, making it an exciting development for the broader cryptocurrency community.
What role do on-ramps play in the future of Ethereum?
Direct on-ramps are an essential tool for increasing the adoption of these new and innovative zkEVMs. These solutions offer significant benefits over Ethereum's mainnet, including lower fees, faster transaction times, and greater scalability.
By offering direct purchases into the zkSync Era zkEVM network, Ramp has removed one of the most significant barriers to entry for users: the cost and speed of accessing the network through traditional bridging.
This move not only makes it easier for users to access layer two scaling solutions, but it also highlights a monumental shift in the ability to interface directly with the zkEVM for your daily needs, minimizing the need for most users to interact with the Ethereum mainet.
We are thrilled to be a part of the transformative potential of zkEVM technologies, and we are fully committed to making these game-changing solutions available to a wider audience. As a key infrastructure provider in the ecosystem, we are passionate about delivering a seamless onboarding experience into these new technologies. We are dedicated to supporting and driving the development of these groundbreaking technologies and ensuring that users can access them with ease. Szymon Sypniewicz, CEO at Ramp
Why scaling solutions matter
Ramp's decision to integrate with zkSync was driven by the desire to simplify access to this powerful new technology and make onboarding into our partners' apps that already work with or will utilize the solution in the near future as seamless as possible.
Since the integration was announced, there’s been significant interest from users in using Ramp to purchase cryptocurrencies directly on the zkSync Era network. This interest highlights the growing awareness of layer two scaling solutions and the need for more user-friendly on-ramps to these solutions.
Working with native layer two wallets is something that we have done so for a while here at Ramp, and one of the first places you will be able to onboard directly into zkSync Era from is our partner Argent.
Here at Argent, we believe that on-ramping is one of the most important steps towards making decentralized finance accessible to everyone. With the launch of zkSync Era, it's great to see Ramp at the forefront of innovation, delivering fast, cheap and secure on-ramp for our users. Chad West, VP of marketing at Argent
By working with Matter Labs over the course of the past few months, we were able to take all the necessary technical and operational steps required to make sure that we were adequately positioned to be the first on-ramp to offer direct purchases into the network.
This required significant technical expertise and collaboration between the two teams and was supported by Matter Labs’ philosophy of providing the entire crypto ecosystem with fair access to the network.
Ramp’s integration on zkSync Era provides a critical ingredient as we look to onboard more users to the protocol to drive mass adoption of Crypto. Our teams are very much aligned in that we are obsessed with user experience, because ultimately, they will only come in masses when the user experience is seamless. Ramp’s fiat-to-crypto on-ramp to support direct purchases on zkSync Era is drastically more convenient, fast and affordable for the end users. Marco Cora, Head of Business Development and Ecosystem at Matter Labs
Ramp and scaling technologies
While it's still early days, the integration has already had a positive impact on the broader cryptocurrency ecosystem.
By making it easier for users to access layer two solutions, Ramp is playing it’s part in reducing congestion on Ethereum's mainnet, making it easier for developers to build and deploy decentralized applications.
As awareness of the benefits of these solutions grows, demand for easier on-ramps will increase, driving innovation in this area.
We’re a huge believer in many of the scaling solutions being developed and are committed to remaining at the forefront of empowering users with easy access to these technologies.
Direct on-ramps are a crucial tool for increasing the adoption of layer two scaling solutions like zkSync Era.
By making it easier for users to access these solutions, we can reduce congestion on Ethereum's mainnet and unlock the full potential of the broader cryptocurrency ecosystem.
We look forward to seeing more innovation and collaborating with teams that are solving some of the most pressing issues around blockchain technology.
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A crypto enthusiast and tech native at heart, Alexis has been active in the blockchain space since early 2014. In 2017 he moved from private equity to following his passion for crypto by undertaking a Master’s in Digital Currencies & Blockchain Technologies from UNIC. He's currently a key account manager at Ramp.