How to use zkSync on Cruxpool? Layer 2 explanation
Since EIP-1559, Ethereum Network gas fees have been expensive and it is probably going to stay this way until The Merge. Paying for transaction fees is a situation Cruxpool can no longer sustain from a financial point of view. That is why, we have put in place a new Layer 2 payout solution with zkSync.
As a Layer 2 network, the exchange and transfer of cryptocurrencies are faster and cheaper than on the Layer 1 Ethereum network (about 1/100 of the price of Ethereum Network).
But what is really this new layer 2 payout solution that will allow you to receive your rewards without big transaction fees? How does it work? Is it easy to set? What if I am an anonymous miner?
In this tutorial, we will focus on a Layer 2 solution: zkSync.
Why use zkSync and Layer 2?
zkSync is a Layer 2 scaling solution that offers cheaper and faster transactions than the main Ethereum blockchain in Layer 1. Layer 2 solutions take most of the activity away from Layer 1, while inheriting your security or control. ZkSync supports payments, cryptocurrency exchanges and mint of NFTs.
You receive your payout through zkSync. With zkSync you will be able to process high velocity and safe transactions for 1/100 the price of Ethereum Network. Layer 2 will also allow you to set a threshold at 0.01.
If you want to know more, feel free to read our article on what layer 2 is, how zkSync works and its advantages.
How do I set up your payout with zkSync on Cruxpool?
First you will need an Ethereum hot crypto wallet address.
Hot wallets are online crypto wallets. Online crypto wallets can be web extensions or applications (desktop/mobile) such as Exodus Wallet or MetaMask Wallet.
As a reminder, MetaMask is an online crypto wallet that runs on the Ethereum blockchain but that can also access a variety of other specified networks. With this crypto wallet, your cryptocurrencies are in a very secure environment. If you want to know more about MetaMask, check our MetaMask tutorial!
Keep in mind if you are not currently mining with a hot wallet, you will need to change your current wallet to a hot wallet to receive your payments.
Plus, if you want to continue using the Layer 1 solution, you can stay on the main Ethereum blockchain. But the Ethereum Network gas fees will still, most likely be high unlike the Layer 2 zkSync solution.
You can set up your payout by being an anonymous miner or with a cruxpool account.
Disclaimer: To receive zkSync payout, we recommend using a MetaMask wallet address. For this, you need to be mining with it. You should know that Cruxpool will not be responsible if you are using a crypto wallet that is not compatible with zkSync. To know crypto wallets which can be connected with zkSync, you can check our FAQ.
How to set up zkSync when I am an anonymous miner?
If you are an anonymous miner, you have two solutions for your payouts on Cruxpool: use an IP address or sign with a MetaMask Wallet.
Go to your dashboard, then “Earnings” and click on “Set my payout” button.
Once you have clicked on “Set my payout”, a window opens.
You can select your payout options:
- Adjust your threshold
- Switch to Layer 2 network for your payout
- Set your gas price limit (there is not gas price limit with Layer 2)
If you choose zkSync, you should connect your hot crypto wallet such as MetaMask Wallet.
Otherwise, you will need your IP address associated with your worker. You can find the IP address at whatsmyipaddress.com.
Then, you can click on “Save my changes” to confirm your payment settings.
How to set up zkSync when I have a Cruxpool account?
If you are mining on Cruxpool with an account, the process to set your Layer 2 zkSync wallet is the same as adding another crypto wallet.
Go into the settings of your account and click on “Add wallet”.
The “Setup your payout address” feature will open:
First, select your coin and choose ETH.
Then, choose zkSync network.
Write out your desired payout threshold and click on “Save my changes”.
Once you are done, a pop-up window will appear to validate that your payout preferences have been updated. As for the other wallet address changes, it will take 24h for your wallet address to be checked and validated.
How to connect your crypto wallet to zkSync?
Connecting your crypto wallet to zkSync can be interesting for two reasons:
- zkSync allows you to view your funds and use them through the solution
- The zkSync wallet can replace your classic crypto wallet while taking advantage of the speed and low transaction cost of Layer 2
Connect your Ethereum wallet to zkSync Wallet
You can connect any Ethereum hot wallet with zkSync with the “Wallet Connect” feature.
Go to wallet.zksync.io.
Click on “Wallet Connect”.
A QR code is available:
Through your smartphone application of your current hot crypto wallet (here, it is Trust Wallet), scan the QR code.
Connect your hot crypto wallet to zkSync wallet.
Afterwards, you will have access to all zkSync features and you will be able to manage your transactions.
Connect your MetaMask Wallet to zkSync Wallet
MetaMask is the best solution to receive zkSync payout.
Go to Wallet.zksync.io.
To connect to MetaMask, click on “Ethereum Wallet”.
Then, choose “MetaMask”.
Once you have clicked, your MetaMask Wallet will be able to connect. This will result in the opening of your browser extension window.
Connect your Ledger Wallet to zkSync Wallet
Before we get started, you need to know that your Ledger must be plugged into your computer to connect it to zkSync.
Just like any other wallet, go to wallet.zksync.io.
To connect your Ledger to zkSync, click on “Ethereum Wallet”. Then, choose “Ledger”.
Then you have to choose between “Ethereum”, “Ethereum Ledger Live” and “Custom Path”.
For our part, since our Ledger is connected to the Ledger Live application, we choose “Ledger Live” here.
Click on “Connect”, a browser window will open, asking you to select your Ledger. Click on “Connect”.
Once the Ledger is connected to zkSync, you must choose an Ethereum wallet address that you have previously created using the Ledger Live application.
You can click on “Done”.
And now you are finally on the interface and you can start using zkSync!
How to withdraw ETH from zkSync?
If you want, you can withdraw ETH in zkSync from Layer 2 to Layer 1.
Click on “Transfer”.
Once you have clicked on “Transfer”, a signature request will open on your MetaMask Wallet and an account activation window at Zksync.
Click on “Sign”.
You will have to click twice on “Sign” for the message to be generated with all the transaction data. A window will appear with the connection information between the MetaMask crypto wallet and the zkSync interface.
Once you have signed, you will be taken to the zkSync interface to send cryptocurrencies.
To send your ETH layer 2 from zkSync to your ETH MetaMask Wallet, click on “Send to Ethereum”.
Be careful, when you transfer from zkSync to Ethereum, transaction fees correspond to those of the Ethereum network and can therefore be high.
A pop-up appears, you must validate the transaction. Then, a window of your MetaMask extension will open so that you can sign and validate the transaction.
Click on “I understand” to validate the transaction.
Click on “Ok”, to return to your zkSync wallet interface. You will see that your transaction is displayed below the action buttons.
If the transaction is validated, there are two statuses:
- Committed: the transaction is sent
- Verified: the transaction is received
To check your last transactions, do not forget to check in “History” available in the menu.
That’s it! You now know how to set up your future payments on Cruxpool with the quick and easy Layer 2 solution, zkSync!
With this Layer 2 solution, the Ethereum Network gas fees are much lower than on the main Ethereum blockchain Layer 1, which allows us to offer you a more pleasant mining experience for all of us without suffering from high transaction fees.
Do not forget that to receive zkSync payout, we recommend using a MetaMask wallet address and that Cruxpool will not be responsible if you are using a crypto wallet that is not compatible with zkSync.
If you are a new miner, do not hesitate to join our mining pool Cruxpool to enjoy Layer 2 or check our FAQ to find different solutions for zkSync and Layer 2.
Happy mining on Cruxpool!