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
Cryptocom Partners with Travel Wallet to Launch Global Crypto-Fiat Card and KRW Stablecoin

Cryptocom has partnered with Travel Wallet to launch a global crypto-fiat card and a Korean won-pegged stablecoin, enhancing digital asset integration in mainstream payments.

Chainlink's Development Activity Highlights Growing Demand for Oracle Solutions

Chainlink's network development activity ranks among the top 10 real-world asset projects, reflecting the growing demand for oracle solutions.

Aave's Expansion in the Crypto Economy

Aave's market influence is reflected in its esteemed $36 billion market cap and multichain asset support. The platform's technological advances and careful management are expected to drive the DeFi industry further.

Aave Surpasses $25 Billion in Lending Portfolio

Aave has achieved a significant milestone with its loan portfolio now surpassing $25 billion, accounting for 82% of all DeFi lending market debt on Ethereum.

400 Million Theft Prompts Overhaul of DeFi Security Measures

The recent theft of over 400 million in crypto assets has prompted wallet providers and exchanges to implement security patches to address vulnerabilities in DeFi protocols.

ProShares Seeks SEC Approval for CoinDesk Crypto 20 ETF

ProShares has filed for the ProShares CoinDesk Crypto 20 ETF to be listed on the NYSE, aiming to track the CoinDesk Crypto 20 Index and provide exposure to the top 20 digital assets.

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