CryptoSpiel.com
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Live ICO
  • Exchange
  • Crypto News
  • Bitcoin
  • Altcoins
  • Blockchain
  • Regulations
  • Trading
  • Scams
  • Home
  • Live Crypto Prices
  • Live ICO
  • Exchange
  • Crypto News
  • Bitcoin
  • Altcoins
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
CryptoSpiel.com
No Result
View All Result

Matter Labs Abandons ‘ZK’ Trademark Following Community Outcry

June 3, 2024
in Crypto News
Reading Time: 2 mins read
A A
0
ConsenSys-Backed Linea Slams Matter Labs’ Power Grab Over ‘Zero-Knowledge’ Tech
0
SHARES
4
VIEWS
ShareShareShareShareShare

RELATED POSTS

Altcoin Market Rebounds After CPI Print – What’s Next?

Zcash’s (ZEC) Major Uptrend, Recent Cardano (ADA) Predictions, and More: Bits Recap September 11

Senate Republicans Update CLARITY Act Before September 15 Vote

Matter Labs, the developer behind the ZkSync Ethereum Layer 2 network, has decided to abandon its efforts to trademark the term “ZK.”

In an update on June 3rd, Matter Labs said its decision to abandon its efforts to trademark the term “ZK” stems from the reasoning that it is “impossible to agree on a group of people perceived as credibly neutral by nearly everyone.”

Matter Labs Drops “ZK” Trademark Effort

Matter Labs had previously filed to trademark the term zero-knowledge (ZK) in nine countries, subsequently clashing with Polyhedra Network over using ZK as a ticker symbol. This resulted in a week-long dispute with Polyhedra Network condemning Matter Labs’ actions and accusing them of bullying and undermining the principles of Web3.

Soon after this, several industry players backed Polyhedra and argued that such a move by Matter Labs would privatize a public resource.

As backlash intensified, Matter Labs dropped its trademark plans and explained, in an official statement, that what might work within the Ethereum ecosystem wouldn’t necessarily be applicable or effective on a global scale, given the diversity of perspectives, interests, and stakeholders involved.

“We’re proud to be a part of a movement that cares so deeply about cypherpunk values. And we are incredibly grateful to the zksync community in particular for the thousands of messages of support we received, once again affirming that community is everything. ZK summer is imminent.”

Opposition

Prominent key figures from ZK projects, such as Shafi Goldwasser and Silvio Micali, co-inventors of ZK proofs, Sandeep Nailwal and Brendan Farmer, co-founders of Polygon, and Eli Ben-Sasson, CEO of StarkWare, jointly issued a statement expressing strong opposition to the move.

The statement highlighted that accessibility to “ZK” should be maintained for all parties involved while at the same time addressing concerns that proceeding with the trademark would alienate Matter Labs from the very community it purports to serve.

StarkWare, a software company that develops ZK-proof technology, deemed the behavior “oppressive.” Subsequently, ConsenSys-backed Layer 2 scaling solution Linea also rallied behind the industry proponents and condemned Matter Labs for trying to violate the ethos of the cryptocurrency industry by pursuing the trademark.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Credit: Source link

Buy JNews
ADVERTISEMENT
ShareTweetSendPinShare
Previous Post

Sleeping Bitcoins Worth $13.87M Move After 11 Years, Transfer Exposes 2013 Whale

Next Post

Dapper Labs Secures Favorable Settlement in Class Action Lawsuit Involving NBA Top Shot NFTs

Related Posts

Altcoin Market Rebounds After CPI Print – What’s Next?
Crypto News

Altcoin Market Rebounds After CPI Print – What’s Next?

September 11, 2026
Zcash’s (ZEC) Major Uptrend, Recent Cardano (ADA) Predictions, and More: Bits Recap September 11
Crypto News

Zcash’s (ZEC) Major Uptrend, Recent Cardano (ADA) Predictions, and More: Bits Recap September 11

September 11, 2026
‘Incumbents’ Are Trying to Kill Crypto Competition
Crypto News

Senate Republicans Update CLARITY Act Before September 15 Vote

September 11, 2026
Next Post
Dapper Labs Secures Favorable Settlement in Class Action Lawsuit Involving NBA Top Shot NFTs

Dapper Labs Secures Favorable Settlement in Class Action Lawsuit Involving NBA Top Shot NFTs

Bitcoin Primed To Go Higher, but One Ethereum-Based Altcoin Will Outperform BTC: Crypto Analyst Benjamin Cowen

Trader Says Ethereum-Based Altcoin ‘About To Get Sent,’ Predicts Massive Q4 Rallies for Bitcoin, ETH and Solana

Recommended Stories

Michigan Woman Wins $1 Million on Scratch-Off

Michigan Woman Wins $1 Million on Scratch-Off

September 2, 2026
3 Red Flags Are Emerging for Chainlink After LINK’s Powerful 95% Rally

3 Red Flags Are Emerging for Chainlink After LINK’s Powerful 95% Rally

September 8, 2026
Liquid Network Resumes Block Production After 4,000 BTC Exploit – Bitcoin News

Liquid Network Resumes Block Production After 4,000 BTC Exploit – Bitcoin News

September 10, 2026

Popular Stories

  • Binance Accused of Commingling Customer Funds and Revenue, Says Reuters Report

    Binance Expands Offerings with Thena (THE) on Multiple Platforms

    0 shares
    Share 0 Tweet 0
  • HKMA Enhances Offshore RMB Bond Repo Business for Greater Market Efficiency

    0 shares
    Share 0 Tweet 0
  • US $13 trillion debt ceiling debacle

    0 shares
    Share 0 Tweet 0
  • Fed Chair Kevin Warsh triggers a $488 million crypto liquidation cascade as rate-hike expectations rise

    0 shares
    Share 0 Tweet 0
  • NVIDIA Releases CUDA-Q v0.8, Enhancing Quantum Programming

    0 shares
    Share 0 Tweet 0
CryptoSpiel.com

This is an online news portal that aims to provide the latest crypto news, blockchain, regulations and much more stuff like that around the world. Feel free to get in touch with us!

What’s New Here!

  • Altcoin Market Rebounds After CPI Print – What’s Next?
  • DRW’s Cumberland Is Buying Robinhood Chain’s Meme Star PONS
  • Zcash’s (ZEC) Major Uptrend, Recent Cardano (ADA) Predictions, and More: Bits Recap September 11

Subscribe Now

Loading
  • Live Crypto Prices
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - cryptospiel.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Live ICO
  • Exchange
  • Crypto News
  • Bitcoin
  • Altcoins
  • Blockchain
  • Regulations
  • Trading
  • Scams

© 2021 - cryptospiel.com - All rights reserved!

Please enter CoinGecko Free Api Key to get this plugin works.