Author: Zen, PANews

In April, the staking plan launched by the EVM-compatible ZK Rollup network Zircuit saw a significant increase, with its TVL rising from $1.1 billion to a peak of $2.8 billion in that month. According to DefiLllama's data, as of May 6th, there have been deposits of $3.2 billion into Zircuit staking.

What is Zircuit?

Zircuit was developed by a team funded by the Ethereum Foundation for multiple research projects and has received support from Pantera Capital and Dragonfly Capital. On November 9th last year, the Zircuit public testnet was officially launched. It is fully compatible with EVM, meaning that Ethereum applications can be seamlessly deployed on this network without the need to learn new programming languages or frameworks. This compatibility allows users to enjoy the new features, speed, and cost advantages of these dApps without the need to learn any additional content.

In February of this year, Zircuit launched a staking plan, gradually gaining attention. It allows users to earn rewards including staking APR, re-staking APR, Eigenlayer points, LRT points, and Zircuit points by staking ETH, staking liquidity tokens (LST), and re-staking liquidity re-staking tokens (LRT). Currently, Zircuit has partnered with star projects such as Ethena, Ether.fi, Renzo, EigenLayer, Lido, and Swell. Unlike methods such as Blast and Mantle's hard lock, Zircuit allows users to withdraw at any time and retain earned points and profits, similar to a demand deposit account.

Currently, Zircuit is still in the testnet phase, with its mainnet expected to launch no earlier than this summer. Based on the airdrop expectations, users can participate in the testnet testing, participate in "Build to Earn", or join its staking plan by staking ETH and its derivatives, and participating in various tasks to earn Zircuit points for future token rewards.

Core Feature: Sequencer Level Security

Zircuit itself is an Ethereum ZK Layer 2, and its main innovation is the introduction of the concept of Sequencer Level Security (SLS). This mechanism aims to provide enhanced security guarantees, ensuring that users' assets and data are fully protected when transacting on the Layer 2 blockchain, preventing malicious transactions and hacker attacks. In addition, its design requires minimal impact on sequencer performance, especially on serialization throughput and latency, to maintain network efficiency and response speed. Its transparent operating mechanism allows the state of the blockchain to be clearly defined and derived, ensuring the predictability and stability of the network.

Specifically, Zircuit's sequencer monitors and maliciously detects the Mempool (memory pool), a collection of transactions not yet included in blocks. SLS will determine whether a transaction has malicious intent based on specific algorithms or technologies. If a transaction is deemed malicious, it will be placed in an isolation area and temporarily unable to be included in a block. It can only be considered for inclusion in a block after meeting release conditions, i.e., after its legitimacy is verified. SLS can also use a hybrid parallel-sequential method for malicious detection to optimize detection speed and accuracy. It combines parallel simulation at the chain tip and sequential simulation within the block to fully leverage their respective advantages.

In addition to SLS, another feature of Zircuit is the use of proprietary proof aggregation technology, which decomposes circuits into fast parallel processes to improve processing speed and efficiency.

Hybrid Architecture of ZK Rollup

By combining the verified Rollup infrastructure and zero-knowledge proof technology, Zircuit adopts a hybrid architecture-based ZK Rollup scheme. Its architecture includes sequencers responsible for processing transactions to build L2 blocks, provers for generating validity proofs for these blocks, and smart contracts for interacting with the system on L1.

The transaction process of Zircuit can be initiated from L1 or directly from L2. Transactions are processed by Rollup nodes (including sequencers, execution engines, and batch processors), where the sequencer instructs the execution engine to include which transactions in a block, and the batch processor submits L2 transaction batches to L1 to achieve complete data availability. The execution engine processes transactions in the batch and generates a new L2 state. These L2 blocks are then processed by Zircuit's provers, each with a specific role for fast proof generation and verification.

In terms of deposits and withdrawals, deposit transactions bridge assets such as ETH or ERC-20 tokens from Ethereum to Zircuit, while L2 transactions are initiated on Zircuit, such as transferring ETH between accounts or calling smart contracts on Zircuit. These transactions are processed by Rollup nodes and ultimately included in L2 blocks, and then confirmed for their legitimacy through proofs. Withdrawal transactions extract assets (such as ETH) from Zircuit to L1, and these transactions are initiated by sending L2 transactions to the standard bridge smart contract on L1. Once these transactions are included in L2, the relevant proofs are used to complete the withdrawal process on L1, ensuring that the withdrawal account has sufficient assets.

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