Summary
- ZKsync said it has stopped block production on the Lite network and is carrying out a pre-planned shutdown process.
- It said assets remaining on the Lite network can be withdrawn through the Ethereum mainnet, and that it plans to cover withdrawal fees for the first 100,000 withdrawals.
- The company said the move will not affect ZKsync Era or other chains and that it will now focus on building a settlement and coordination layer for institutional finance.
Forecast Trend Report by Period
ZKsync, an Ethereum layer-2 scaling solution, has stopped producing blocks on its Lite network, marking the end of the network’s role in the early expansion of the layer-2 ecosystem and a shift to a new structure.
On May 4, ZKsync wrote on X that block production on the Lite network had stopped as of that day. Lite helped expand the early layer-2 ecosystem by bringing zk-rollup technology into a live environment and onboarding millions of users.
The shutdown was pre-planned and will not affect ZKsync Era or other chains, the company said.
Assets remaining on the Lite network can be withdrawn through the Ethereum mainnet. ZKsync said it will provide a dedicated withdrawal portal and verification tool, and cover withdrawal fees for the first 100,000 withdrawals.
Transaction submissions have already been halted, while the Security Council verifies the final state root. Once that process is complete, the withdrawal claim function will be activated. ZKsync expects that to take about 48 to 72 hours.
ZKsync said it will next focus on building a settlement and coordination layer for institutional finance. To that end, it plans to develop next-generation infrastructure based on Prividium technology.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
