zkSync is a layer 2 scaling solution developed by Matter Labs, which preserves the security attributes of the underlying blockchain by utilizing the latest generation of concise zero-knowledge proofs. All funds in zkSync are held by smart contracts on the main chain, while computation and storage are executed off-chain.
It was officially announced that ZKSync Validium is becoming a new platform for Switzerland's largest bank, UBS, to test blockchain technology. UBS is experimenting with digital gold investment through its golden ratio product, UBS Key4 Gold, on the network. This collaboration aims to enhance scalability, privacy, and interoperability, and improve transaction efficiency through offline data storage. This move is also an extension of UBS's recent tokenized fund project, further demonstrating ZKSync's potential in promoting blockchain financial solutions.
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