Matter Labs made a decision to stop pursuing the trademark for 'ZK,' short for zero-knowledge proof, following significant pushback from industry stakeholders. This decision came after vocal criticisms from key figures in the cryptographic field, including renowned innovators like Shafi Goldwasser and Silvio Micali. The community's outcry emphasized the importance of keeping foundational technologies like zero-knowledge proofs accessible to all rather than being restricted by corporate ownership. Matter Labs originally sought to trademark terms related to 'ZK' but faced backlash, prompting a reversal of their trademark applications. The withdrawal of these applications, announced on social media, signifies a shift towards embracing open technology standards. The intention behind the trademark filings was to protect specific contexts like 'ZK Sync' and 'ZK Stack,' aiming to prevent misinterpretation in the market rather than claim exclusive rights to the terms. However, the broader blockchain community viewed this move as potentially hindering the advancement and wider use of ZK technologies. The controversy arose as Matter Labs' ZkSync network, known for its innovative use of ZK-proofs in Ethereum Layer 2 scaling, prepared for an airdrop. Despite the positive transaction volumes and significant role within the blockchain ecosystem, ZkSync opted not to pursue trademark protection, aligning with a more collaborative approach within the Ethereum Layer 2 landscape. By forgoing trademark applications, ZkSync maintains its position in the competitive environment while fostering innovation and adoption. The decision to retract the trademark bid reflects a commitment to openness and inclusivity in technological development, ensuring that essential tools like ZK remain freely available to drive industry progress.
Matter Labs Withdraws ZK Trademark Application Amid Community Opposition

by Giorgi Kostiuk
a year ago

Other news
AVAX Price Rises 17.5% Amid Surge in Trading Volume

AVAX has seen a price increase of 17.5%, reaching $14.57, fueled by a surge in trading volume.

Ripio's Experience in Managing a $100 Million Crypto Treasury: Challenges and Insights

Ripio navigates the challenges of managing a $100 million crypto treasury with robust security and a long-term strategy.

Ripio's Strategic Crypto Treasury Management: A Model for Success

Ripio has demonstrated remarkable foresight in the volatile cryptocurrency market by systematically building its crypto treasury since 2017. By focusing on established assets like Bitcoin and Ethereum, the company showcases its commitment to sustainable growth rather than speculative trading.

Regulatory Shift from LIBOR to SOFR in Interest Rate Swaps

The transition from LIBOR to SOFR as the primary index for interest rate swaps requires active management by financial entities.

Strategic Asset-Liability Management Using Interest Rate Swaps

Interest rate swaps are essential for financial institutions in managing Asset-Liability Management (ALM) strategies, helping to mitigate risks and preserve net interest margins.

Interest Rate Swaps as Strategic Financial Tools

Interest Rate Swaps (IRS) are essential financial instruments for CFOs and institutions, enabling firms to exchange interest payments, stabilize cash flows, and manage balance sheets effectively.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter