I am fairly new to STORJ and have yet to receive my first payout, so don’t take this as advice, but it appears that now Coinbase does support trading STORJ and you can get a wallet receive address and use that as your payout address.
Please do not use any centralized exchange STORJ deposit address as payout address if you have already opted in to zkSync/L2 payouts. Even doing so with L1 payouts is not recommended as this means you are sending to a wallet that you do not control the private keys of yourself.
Up to now there are not yet any centralized exchanges that have announced support for accepting deposits of ERC20 tokens such as STORJ via zkSync. Asking for an emergency withdrawal in case you already have Layer 2 STORJ stuck on an exchange wallet that you do not control the keys of yourself would be very expensive.
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I certainly understand it is not best practice doing so. As part of the learning process, I would just like to know if it is technically possible.
If I have not yet opted in to zkSync, and I use my STORJ receive address for coinbase, does that mean that I will receive L1 payouts, or is that L2?
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You would receive L1 payout whenever your total earnings are above the minimum payout threshold, and yes you can technically use a Coinbase STORJ deposit address as your L1 payout address for your node.
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Thanks a bunch. That does clear up the whole concept. I went ahead and created a non-exchange wallet using the Coinbase Wallet app and linked it to zkSync. I have also opted my node into zkSync L2 payments, and I think I have everything set up correctly. From what I understand, my L1 and L2 wallet address are the same in zkSync/Coinbase Wallet, but only zkSync will show and allow me to transfer my L2 balance?
my L1 and L2 wallet address are the same in zkSync/Coinbase Wallet, but only zkSync will show and allow me to transfer my L2 balance?
zksync has a browser based wallet system which works in conjunction with Metamask… The browser based system all runs locally. So, it doesn’t require you to create a user account anywhere. Your wallet is the account. And your private keys are used to sign transactions… these are the same private keys as Ethereum Mainnet.
zksync wallet integration page:
You can watch transactions via the zkscan block browser. This is similar to etherscan.
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I am not familiar with the non-exchange Coinbase wallet app. Please be very careful in using such apps. Make sure that you have direct access to the private keys of the wallet address if you are using it for L2 zkSync payouts. This will not work with a custodial wallet.
I’ve never used it. But here’s a link to it:
Our Chrome extension lets you use your crypto on your desktop while your private keys stay safe on your mobile phone
Coinbase Wallet is a metamask like Chrome extension => “yes your keys”
While Coinbase Exchange is centralized custodial crypto => “not your keys”
Always remember…
“Not your keys, not your crypto.”
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I just noticed that https://wallet.zksync.io/ has an option specifically to link with Coinbase wallet you can find if you select “Ethereum Wallet” then “Show more” → select Coinbase Wallet then scan the QR code to connect. ZkSync seems to be adding new wallet options and features frequently.
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A little irony about zksync’s byline…
“Rely on Math, not Validators”
is that their future business plan docs has a note about adding a token based reward system for validating transactions…
https://zksync.io/faq/tokenomics.html#what-is-matter-labs-business-model
When zkSync becomes fully decentralized, the token will be used for staking in order to become a validator in the zkSync network. More details to come.
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This answer is marked as “Solved” however, @nerdatwork , it appears that in this answer you are not understanding that there is a major distinction between coinbase.com, pro.coinbase.com, and the Coinbase Wallet app. Each is a significantly different thing. I believe the nuances are discussed in the thread so I won’t attempt to duplicate. But since your answer is marked as authoritative, I hope you can edit it to make it more accurate – i.e., to clarify which product you are referencing (because I’m pretty sure it’s a different product than than the OP was referring to).
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