While the Ethereum network offers users highly rated security, the trade-off is that its network volume isn’t sufficient to support fast, cheap transactions. Matter Labs is one of a small number of companies that are building scaling protocols through its zero-knowledge proof-driven product, zkSync.
It’s not the only company of its kind, with the likes of Arbitrum and Optimism also receiving plenty of publicity and funding. However, Matter Labs' zero-knowledge proof approach has been praised for both its transaction speed and security. If it were easy, however, many more companies would be doing it, so it appears that Matter Labs has made a significant headstart on the competition.
Over the last couple of years, the startup has secured some major funding from high-profile investors such as Andreessen Horowitz (a16z), and Union Square Ventures. Matter Labs released its renamed ZkSync Era - a zero-knowledge, open-source security platform on Ethereum in 2023. Matter Labs is now predicting zero-knowledge cryptography to outlive alternative "optimistic" security tech from the likes of Arbitrum.
Freddie
Company Specialist at Welcome to the Jungle
