1inch Launches Decentralized Exchange Aggregator on zkSync

1inch, the decentralized exchange aggregator, has announced the launch of its platform onto zkSync Era, a newly released Ethereum scaling network from Matter Labs. Utilizing zero-knowledge cryptography, zkSync Era enables faster transactions on Ethereum with lower fees. It falls within the category of Ethereum scaling chains known as zkEVMs, which aim to support all applications currently based on Ethereum. This move makes 1inch one of the leading crypto apps to launch on a zero-knowledge Ethereum Virtual Machine. Although still in beta mode, both zkSync Era and its main competitor, Polygon zkEVM, have opened their doors to developers. Known for its exchange aggregator, which helps traders find the best prices across various DEX platforms, 1inch is a decentralized finance protocol that raised $175 million in a 2021 Series B funding round. DEXs are blockchain-based trading platforms that eliminate centralized intermediaries and instead use smart contracts to allow cryptocurrency swaps.