Cryptocurrency News

Matter Labs steps back as zkSync launches ecosystem portal managed by DappRadar

[ad_1]

Matter Labs recently announced the launch of a new ecosystem portal for zkSync, managed by DappRadar, in what both partners are calling a step towards fully decentralizing the protocol. 

zkSync is a layer-two blockchain for Ethereum payments. It was created by Matter Labs as a method for scaling the Ethereum blockchain ecosystem. It currently boasts more than 200 projects and, according to the protocol’s website, has served more than 8.8 million testnet transactions.

As Cointelegraph reported back in April, its launch was met with a modicum of fanfare as it reached $115 million worth of funds bridged in the first 10 days after its public mainnet launch.

The partnership with DappRadar is part of Matter Labs ongoing plan to decentralize zkSync, according to a recent press release viewed by Cointelegraph:

“Since the very beginning, the ultimate vision for Matter Labs has been to incubate, launch, and ultimately decentralize the zkSync protocol and ZK Stack. In another move toward this vision, Matter Labs is stepping back from managing zkSync’s rapidly growing ecosystem.”

The press release goes on to say that “decentralization comes from gradually subtracting Matter Labs from the building of the tech and stewardship of the ecosystem.”

These changes are in accordance with the zkSync credo, a document drafted in June exemplifying the ideals of the zkSync community, and its principles of “trustlessness” and “sovereignty.”

DappRadar’s platform will purportedly give greater visibility to dapps listed through the zkSync ecosystem portal and, according to Matter Labs, this should translate into more views from users and greater opportunities for press coverage from major media outlets.

Related: Bitcoin Ordinals NFT trading volume tanks 98% since May — DappRadar

Going forward, Matter Labs says relinquishing control of the zkSync ecosystem is “just the beginning.” “Up next” according to the press release, “are plans to fully decentralize the protocol’s technology, community governance, and all other critical pieces of the network.”