Matter Labs, the company behind zkSync, raises $200 million to scale Ethereum • ZebethMedia

Matter Labs has raised a $200 million Series C funding round co-led by Blockchain Capital and Dragonfly. Matter Labs is better known for its work on zkSync, an Ethereum scaling solution that drastically reduces the cost of Ethereum transactions.
LightSpeed Venture Partners, Variant and Andreessen Horowitz are also participating in the Series C round. Overall, Matter Labs has raised $458 million, including a $200 million ecosystem fund to foster zkSync adoption. It’s quite a large sum of money, which means that the company will be able to iterate on zkSync for a while even though we still don’t know the full aftermath of the collapse of FTX.
Over the past couple of years, the biggest pain point with Ethereum transactions has been gas fees. In Ethereum lingo, gas fees are transaction fees. Every time you want to send some crypto assets on the Ethereum blockchain, you have to pay some gas fees.
And those gas fees aren’t variable. If you try to send $10 worth of Ethereum or $10 billion, you will pay the same amount in gas fees. Those fees vary depending on network demand. But it can be quite discouraging if you’re getting started with cryptos or want to use your cryptocurrencies for small transactions.
Many teams have been working on ways to solve this issue. They think that some transactions shouldn’t happen on the main Ethereum blockchain (the Layer 1). That’s what we call Layer 2 solutions.
zkSync is one of those L2 solutions that have been gaining traction in the crypto ecosystem. Essentially, transactions are sent to Layer 2 nodes so that they can be processed and batched together.
When there are enough transactions, a group of transactions is submitted to the main Ethereum blockchain. Once it’s on the main Ethereum blockchain, these transactions can’t be altered.
zkSync is a zero-knowledge rollup implementation, meaning that validity proofs are generated based on hundreds of transactions and then posted to the main Ethereum blockchain. That’s the main security advantage as Layer 2 transactions can’t be altered because they won’t comply with the validity proof.
zkSync’s latest release is compatible with the Ethereum Virtual Machine. This way, decentralized app developers can make their apps compatible with zkSync with minimum work. And Matter Labs plans to open source zkSync 2.0 through an MIT Open Source license at some point in Q4 2022.
So far, 150 projects have been using zkSync in one way or another. For instance, Chainlink, SushiSwap, Uniswap, Aave, Argent, 1inch, Gnosis and Curve have been implementing zkSync in their products.
Ethereum scaling solutions are going to be incredibly important to make the crypto ecosystem truly decentralized. There are many reasons why centralized exchanges like FTX exist. They let you convert fiat currencies into cryptocurrencies. But many people also use these exchanges for crypto-to-crypto transactions. Projects like zkSync will make crypto transactions easy, secure and affordable even without using a centralized exchange.

             Disclaimer: Any Product You Buy Here, Amazon Pays me A Commission With No Additional Fee.

 

This is a must Have Software For Your Home & Business. This software will help your business and make your job Stress Free.

Business and Office Management  Category.

(Old Version) H&R Block Tax Software Deluxe + State 2023 with Refund Bonus Offer (Amazon Exclusive) (PC/MAC Download)

(4264)

20% Off $49.99 $39.97 (as of November 21, 2024 06:11 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Choose to put your refund on an Amazon gift card and you can get a 2% bonus. One state program download included. State e-file sold separately. Reporting assistance on income from investments, stock options, home sales, and retirement Guidance on max... read more

Acrobat Pro | 1-Month Subscription | PDF Software |Convert, Edit, E-Sign, Protect |Activation Required [PC/Mac Online Code]

(1444)

$29.99 (as of November 21, 2024 06:33 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Create and edit PDFs. Collaborate with ease. E-sign documents and collect signatures. Get everything done in one app, wherever you go. Edit text and images without jumping to another app. E-sign documents or request e-signatures on any device. Recipi... read more

Adobe Photoshop Elements 2025 & Premiere Elements 2025 Student & Teacher Edition | PC/Mac Code | Box with Download Code | Photo & Video Editing | 3-year term license | Activation Required

(17)

$79.99 (as of November 21, 2024 05:39 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Remove photo objects with AI power. Create and control photo depth with AI. Change the color of any object in your photo. Seamlessly combine multiple pics. Create dynamic video titles with text styling controls. Access free Adobe Stock video title te... read more

Adobe Photoshop Elements 2025 | Photo Editing | 3-Year Term License | PC/MAC | Box with Download Code | Activation Required

(17)

$99.99 (as of November 21, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Remove objects with AI power. Create and control depth with AI. Change the color of any object. Seamlessly combine multiple pictures. Create with modern textures and graphics. Be creative with the web and mobile beta apps. Get a 3-year term license f... read more

AVG Ultimate 2024 | Antivirus+Cleaner+VPN | 5 Devices, 2 Years [PC/Mac/Mobile Download]

(1124)

14% Off $34.99 $29.99 (as of November 21, 2024 06:11 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

AVG ULTIMATE: Your all-in-one antivirus, VPN, and tuneup combo. OUR BEST SECURITY: Enjoy our advanced, real-time security for your computers, tablets, and phones. OUR BEST PRIVACY: Secure your privacy with powerful encryption so no one can see what y... read more

Bitdefender Total Security - 5 Devices | 1 year Subscription | PC/Mac | Activation Code by email

(2361)

50% Off $89.99 $44.99 (as of November 21, 2024 06:43 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

SPEED-OPTIMIZED, CROSS-PLATFORM PROTECTION: World-class antivirus security and cyber protection for Windows, Mac OS, iOS, and Android. Organize and keep your digital life safe from hackers. ADVANCED THREAT DEFENSE: Your software is always up-to-date ... read more

Bitdefender Total Security 2024 – Complete Antivirus and Internet Security Suite – 5 Devices | 2 year Subscription | PC/Mac | Activation Code by Mail

(3511)

$74.99 (as of November 21, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

SPEED-OPTIMIZED, CROSS-PLATFORM PROTECTION: World-class antivirus security and cyber protection for Windows (Windows 8, Windows 8.1, Windows 10, and Windows 11), Mac OS (macOS X Yosemite 10.10 or later), iOS (11.2 or later), and Android (5.0 or later... read more

Clifford The Big Red Dog Thinking Adventures CD-ROM Parent's Guide Ages 4-6

(9)

-85% Off $2.43 $4.50 (as of November 21, 2024 05:37 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

CLIP STUDIO PAINT PRO - Version 1 - Perpetual License - for Microsoft Windows and MacOS

(3061)

$23.99 (as of November 21, 2024 06:18 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Create original sketches using your mouse or draw naturally with a pen tablet. Powerful coloring tools make CLIP STUDIO PAINT your all-in-one illustration, painting, manga and comic creation solution. Use an assortment of powerful art tools for illus... read more

CodaKid Roblox Coding, Award-Winning, Coding for Kids, Ages 9+ with Online Mentoring Assistance, Learn Computer Programming and Code Fun Games with Lua and Video Game Programming Software (PC & Mac)

(332)

$59.00 (as of November 21, 2024 05:32 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

CodaKid’s Roblox Lua coding educational software provides 100+ hours of interactive student projects designed to engage and educate kids, teaching them to become creators in their own right. Students learn real Lua coding and video game design using ... read more