Matter Labs, the parent company of Ethereum (ETH) layer 2 solution zkSync, announces that it has raised $200 million in a recent funding round. This new capital injection will allow Matter Labs to develop new solutions, in particular the creation of a Matter university, but also to recruit new members to its team.
Matter Labs raises $200 million
Matter Labs, the company that operates the development of zkSynca second layer (layer 2) solution for the Ethereum (ETH) blockchain, has just announced the closing of a fundraising at 200 million dollars.
The round was led by Blockchain Capital and Dragonfly, and also saw participation from Lightspeed Venture Partners, Variant and other existing partners such as giant Andreessen Horowitz (a16z).
This new capital injection signs a valuation of $458 million for Matter Labsand therefore as many funds that will be made available for the development of zkSync.
As layer 2, zkSync is a solution for solving Ethereum blockchain scalability issues and which has the particularity of being compatible with the Ethereum Virtual Machine (EVM), all maintained by its ZK Rollups (Zero-Knowledge Rollups) technology. To learn more about ZK Rollups, we invite you to read our dedicated guide.
Its EVM compatibility, a first in the layer 2 ecosystem, ensures compatibility with all Ethereum smart contracts and therefore for the different blockchain applications. In addition, its support for the Solidity language, that of Ethereum, will allow developers who wish to adopt this new technology without the hassle of learning a new dedicated language.
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Matter Labs will reveal the code for zkSync
For the first time, a solution powered by ZK Rollups technology will release its code as open source. The revelation of the latter by zkSync will be ensured by a MIT Open Source Licenseand should be done before the end of the year during the transition to the Fair Onboarding Alpha phase of the project roadmap.
The publication of this code is an important step in the ecosystem of layer 2 insofar as the latter will open new horizons for developers. They will be able to view the code, modify it and even fork it.
zkSync is betting here that its technology of EVM-enabled ZK Rollup becomes an industry standardsince it allows projects in the Ethereum ecosystem to evolve on a solution offering both security, scalability and drastically reduced transaction costs.
Moreover, Matter Labs announced that already more than 150 projects wish to deploy on zkSync 2.0, which is the most comprehensive launch in the history of layer 2 in terms of microcosm of applications. This includes ecosystem giants such as Chainlink, Sushiswap, Uniswap, Aave, Argent, 1inch or even Curve.
👉 On the same subject – According to Vitalik Buterin, ZK Rollups will become the benchmark for Ethereum (ETH) layers 2
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