zkSync

For Matter Labs, scalability is thought of not only in terms of transaction throughput, but the overall readiness of blockchain systems to meet the demands of millions of users. Matter Labs’ solution is zkSync, whose value proposition is based on trustlessness, confidentiality, and speed.

zkSync is a trustless Layer 2 protocol for scalable low-cost payments on Ethereum, powered by zkRollup technology. It is a user-centric zk rollup platform from Matter Labs, with security, user experience, and developer experience as the core focus. zkSync Version 1.0 launched on the Ethereum mainnet on June 15th 2020, enabling transaction throughput of ~300 TPS.

Matter Labs was founded in 2018 by Alex Gluchowski. The matter labs team laid out its vision for the zkSync solution in late 2019, as the first trustless L2 scaling solution with L1 reorg-level security and guarantee of fund safety, supporting a fully zero-knowledge based smart contract ecosystem.

Matter Labs is currently focused on the development of zkSync 2.0 which has a twofold goal; firstly, arbitrary smart contract capabilities through support of both Solidity (via zkEVM) and Zinc (the rollup’s internal programming language); and secondly, an exponential increase in throughput, in the order of 20,000+ TPS, via zkPorter - a protocol combining zkRollups and sharding.

On November 8th 2021, a 50M USD round led by Andreessen Horowitz was announced, which included investors from the previous round and increased the number of strategic partners.