Matter Labs Announces a New Portal for zkSync

Matter Labs Announces a New Portal for zkSync
Table of Contents

Matter Labs has announced the launch of an entirely new ecosystem portal for zkSync, which is managed by DappRadar. Both firms jointly agree that the development of this new portal is the first step toward entirely decentralizing the protocol.

ZkSync, a layer 2 blockchain for Ethereum payments, was created by Matter Labs as a method for scaling the Ethereum blockchain. It currently boasts a total of 200 projects and has facilitated more than 8.8 million testnet transactions based on the statements of the protocol’s website.

It was first reported that the project received little demand following its launch as it managed to bridge only $115 million of funds in the first 10 days after the launch of its public mainnet. Matter Labs considers it its ultimate vision to incubate, launch, and decentralize the zkSync protocol along with zkStack. However, in another move toward the vision, Matter Labs is looking forward to stepping back from managing zkSync’s rapidly growing ecosystem. It was highlighted that decentralization comes from gradually subtracting Matter Labs from the building of the tech and stewardship of the ecosystem.

Matter Labs Makes Bold Statements

Most analysts believe that these recent changes are per the zkSync credo. It is a document that was drafted in June that exemplifies the ideals of the zkSync community along with its principles of both trustlessness and sovereignty. Additional foundational principles crucial for decentralized networks were highlighted as well. Some of them include Security, reliability, privacy, accessibility, hyperscalability, and censorship resistance.

Matter Labs Makes Bold Statements

Matter Labs continued to state that DappRadar’s platform would grant greater visibility to all decentralized applications listed through the zkSync ecosystem portal. Moreover, Matter Labs highlighted that the move would eventually translate into more views from typical users along with greater opportunities for press coverage from some of the major media outlets.

The platform says that letting go of the control of the zkSync ecosystem is just the beginning. According to the press release, the masses were told that plans for completely decentralizing the protocol’s technology would follow soon. These would also include community governance along with some of the crucial pieces of the network.


Follow us on Social Networks

Crypto Tutorials

Crypto Reviews