ZKsync launches Prividium Connect, enabling institutions to conduct atomic transactions across private blockchains.

November 10 - According to official sources, ZKsync has announced the launch of Prividium Connect, aimed at enabling financial institutions to conduct private transactions between their existing blockchain networks without relying on trusted intermediaries or third-party bridge services. This solution is the first mainnet-live solution that uses cryptographic mechanisms to secure cross-blockchain private transactions. During asset exchanges, Prividium Connect ensures both parties fulfill their delivery obligations through atomic transaction mechanisms, meaning the transaction is only completed when both parties' transfers meet the agreed conditions; if not completed on time, both parties can reclaim their respective assets, avoiding situations where one party delivers assets but does not receive consideration. This solution can also be applied to scenarios such as securities delivery versus payment, repurchase transactions, and fund subscriptions and redemptions.

ZKsync stated that Prividium Connect utilizes zero-knowledge proofs to verify whether transactions comply with agreed rules while protecting institutions' account balances, asset positions, client identities, and other sensitive information. Counterparties can only access the information necessary to complete the transaction, with other data remaining under each institution's control. Additionally, this solution does not require institutions to replace their existing blockchain systems; it currently supports Hyperledger Besu and Prividium Ledger first, with plans to expand to more networks based on client demand in the future. Institutions can access the system by deploying connectors alongside their respective ledgers and independently choose the settlement layer, allowing verified transactions to be finalized on mutually agreed blockchains. This solution is built on ZKsync's open-source atomic interoperability protocol, enabling institutions to independently audit the protocol and connector code, or deploy it themselves or choose a service provider.

At the ecosystem level, ZKsync believes that Prividium Connect is expected to drive the $ZK ecosystem's expansion from an Ethereum Layer 2 network to global institutional financial markets, covering institutional payments, securities trading, and collateral management businesses. ZKsync proposes deploying a standardized version of Prividium Connect on the public chain, enabling institutions to leverage ZKsync's security guarantees and governance mechanisms while introducing interoperability fees into the ZK economic system. The relevant Fee Switch code has been completed and is under audit, with plans to integrate it with the already-deployed Fee Flow System on ZKsync Era, converting collected fees into ZK and distributing them according to governance decisions. The activation of the standardized deployment, integration, and fee parameters still require community governance approval.