Matter Labs develops ZKsync, a layer-2 scaling solution for Ethereum that utilizes zero-knowledge proofs to enhance transaction throughput and reduce costs. This technology addresses the limitations of blockchain scalability, facilitating broader adoption of public blockchain applications.
Funding
$50M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
SFounders
Product
Problem
Ethereum's scalability limitations, including slow transaction times and high gas fees, hinder user experience and broader adoption of decentralized applications. Processing every transaction by every miner in the network, while ensuring security and decentralization, restricts transaction throughput.
Solution
Matter Labs develops zkSync, a layer-2 scaling solution for Ethereum that utilizes zero-knowledge proofs to increase transaction throughput and lower costs without compromising security or decentralization. zkSync employs ZK rollups to move computation off-chain, generating cryptographic proofs to guarantee validity on Ethereum. The zkEVM-compatible rollup allows developers to reuse existing Solidity contracts, minimizing code modifications and smart contract audits. zkSync enables high-performance, custom layer-3 chains with inherited Ethereum security, forming a network of ZK rollups communicating through native bridges secured by zero-knowledge proofs.
Target Audience
The primary target audience includes Ethereum developers, DeFi projects, and enterprises seeking a scalable, secure, and cost-effective solution for deploying and utilizing decentralized applications.
Features
- EVM-compatibility, allowing for the deployment of existing Ethereum applications with minimal changes
- Support for Solidity and common Ethereum developer tools
- Native account abstraction for safer wallet designs and improved UX
- LLVM compiler enabling integration with programming libraries written in Rust and C++
- Support for high-performance, custom layer-3 chains with customizable security inheritance from Ethereum
- Interoperability between ZK-rollups through native bridges secured by zero-knowledge proofs
- Decentralized, permissionless, censorship-resistant operation
- MIT Open Source license, granting developers full access to view, modify, and fork the code