How to Check the Deposit Progress on the zkSync Era Network
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#Layer2
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1. What is zkSync?
zkSync is a Layer 2 scaling solution launched by the Matter Labs team, which enhances the scalability of the Ethereum network by employing Rollup technology based on zero-knowledge proofs.
Currently, zkSync operates on two chains: zkSync Lite and zkSync Era. zkSync Lite launched on the Ethereum mainnet on June 15, 2020, achieving a throughput of approximately 300 TPS (transactions per second) but without compatibility with the Ethereum Virtual Machine (EVM). zkSync Era launched on March 24, 2023, supports smart contract functionality, and achieves a throughput of over 20,000 TPS. Typically, when referring to the zkSync network, we refer to the zkSync Era.
If you are interested in Layer 2 networks and related topics, you can read the articles "Understand Ethereum Layer 2 in One Easy Example" and "The Highly Anticipated ZK Rollup: What is It?" to learn more.
2. What is Execution Delay?
Execution delay is a unique mechanism of zkSync Era, which refers to a time lock for every L2 block submitted to L1 before it is executed and finalized. Initially, the delay time is 24 hours, and as the system matures, this time will gradually reduce until it is completely eliminated. The delay in execution affects not only standard zkSync ETH and ERC20 cross-chain bridges but also any custom cross-chain bridges built by different teams.
Due to the execution delay mechanism, when you deposit using the zkSync Era network on the MEXC platform, you will receive a pop-up reminder stating that the deposit on-chain will take 23 hours for verification.
2.1 Advantages of Execution Delay
To ensure the overall network security, the execution delay mechanism allows the zkSync team sufficient time to verify transactions included in a block before it becomes a final transaction. This prevents situations where hackers could exploit vulnerabilities rapidly. Even if hackers discovered a serious issue affecting the zkSync network and successfully compromised the servers running zkSync, the zkSync team would have ample time to detect the vulnerability, conduct investigations, and initiate governance protocols to freeze the network.
3. How to Check the Deposit Progress on the zkSync Era Network
If you want to learn how to deposit cryptocurrency to the MEXC platform, you can refer to the articles "How to Deposit Crypto to the MEXC Platform (Website)" and "How to Deposit Crypto to the MEXC Platform (App)."
This article focuses solely on querying the deposit progress and status, using ZK token deposits as an example.
Open the zkSync Era official website explorer (https://explorer.zksync.io/), copy your withdrawal address and paste it into the search box, click on the search icon [đ], and you will be directed to the withdrawal address details page.
Scroll down the withdrawal address page to view all transaction operations related to this address.
In chronological order, the first transaction listed is the deposit we just initiated. Click on the corresponding transaction hash to access the details page of this transaction.
On the transaction hash details page, you can see the status of your deposit. "Processed" means that it has been processed by the zkSync Era network, while "Sending" indicates that it is pending to be sent on the Ethereum network.
In addition to the "Sending" action, your deposit also needs to go through the steps of "Validating" and "Executing" before it can be credited. As mentioned earlier, due to the execution delay mechanism, there will be a time lock for every L2 block submitted to L1 before it is executed and finally completed.
On the transaction hash details page, by checking the "Tokens Transferred" record, you can verify if your withdrawal address, deposit address, and token amount are correct.
When your deposit is successful, the status of your deposit on the corresponding transaction hash details page will change to "Processed" and "Executed," indicating that it has been processed by the zkSync Era network and executed on the Ethereum network.
Disclaimer: This information does not provide advice on investment, taxation, legal, financial, accounting, consultation, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users' investment decisions.