Matter Labs has decided not to pursue trademark registration for the name zkSync. “ZK” — short for “zero knowledge” proofs.
Three days earlier, senior ZK researchers had criticized the company’s conduct. “in the strongest possible terms,” Innovating ZK should not be the focus, but rather focusing on ZK’s innovations. “public good” This is what I’m talking about “accessible to all.”
“As a result of these conversations, we decided to drop all trademark applications,” In a post on June 2, X, Matter Labs made the following statement.
“It would be impossible to reach an agreement on a group of persons who were almost universally recognized as credibly impartial. What worked for Ethereum may not be applicable to the entire world.”
ZK supporters stated in a letter that ZKs are a good for the public and not a trademark of a company. They also said that any firm that attempts to use legal means to seize a good that belongs to the public would be violating a fundamental principle within the crypto sector.
“If the company goes through with this, it will be separating itself from the very community it claims to be a part of,” The signatories of the May 30, 2010 letter.
The signatures of seven individuals are included. letterShafi goldwasser, Silvio micali (two of three ZK-proofs creators), StarkWare CEO Eli Ben-Sasson and Polygon Labs Co-Founder Sandeep Nailwal were all in attendance.
Matter Labs is first stated The company applied for trademarks related to ZK in order that ZK can be used with freedom. “ZK Sync,” “ZK Stack,” Other names that are associated with the business
“A common misconception is that having a trademark means you legally own a particular word or phrase and can prevent others from using it,” Matter Labs has stated. “However, you don’t have rights to the word or phrase in general, only to how that word or phrase is used with your specific goods or services.”
ZkSync filed a trademark just before the protocol went into effect. preparing for an airdrop Scheduled for mid-June.
ZkSync, one of Ethereum’s most popular Layer 2 Blockchains, is based on ZK-proofing technology, rather than optimistic rollup strategies used by other networks such as Optimism or Arbitrum.
Circle, an issuer of USDC-stablecoin announced that it would launch its USDC-stablecoin on the 28th March. integrated into the ZkSync ecosystem. This integration is a step forward in improving liquidity and usability of zkSync to increase efficiency and reduce costs.
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Source: crypto.news
