As a seasoned crypto investor with a deep understanding of the blockchain ecosystem, I’m relieved to hear that Matter Labs has decided to abandon its efforts to trademark the term “ZK.” The backlash from the ZK research community and the signing of the public letter by prominent figures in the field was a clear indication that attempting to trademark this term would not be accepted.
The group responsible for Ethereum‘s layer-2 solution zkSync, named Matter Labs, has chosen to relinquish their attempt to secure a trademark for the abbreviation “ZK,” which stands for “zero knowledge” proofs.
As a researcher in the field of ZK technology, I’ve observed a significant reaction from my senior colleagues following the recent decision made by the firm. Three days ago, they publicly criticized the company’s actions in strong terms, highlighting the importance of making ZK innovations accessible to everyone as a “public good.”
“After our discussions, we chose to abandon all pending trademark requests,” Matter Labs shared in a blog post on June 2.
As a crypto investor, I’ve come to realize that achieving consensus among a large and diverse group of people can be quite challenging, especially when it comes to matters that are perceived as having significant implications. The success Ethereum has had in gaining widespread recognition and acceptance may not translate universally. What works for one project or community may not be the solution for all.
We’re grateful to those who got in touch with us after our previous announcement, sharing valuable suggestions, encouragement, and critiques. After careful consideration of these exchanges, we have decided to abandon all pending trademark applications for the term “ZK”.
— Matter Labs (∎, ∆) (@the_matter_labs) June 2, 2024
In a publicly released statement, ZK argued that the identity “ZK” should continue to be considered as a common asset instead of being privatized as a corporation’s brand. Any company trying to claim exclusive rights over this public good through legal means would be going against the fundamental principles of the cryptocurrency community.
“We expressed our concerns in a letter on May 30th, stating that if the company proceeds with this decision, it may alienate itself from the very community it aims to serve and be an integral part of.”
As a crypto investor, I’d rephrase it as follows: Seven individuals put their signatures on the letter, among them were Shafi Goldwasser and Silvio Micali, two of the trailblazers behind ZK-proofs technology. Additionally, Eli Ben-Sasson, the CEO of StarkWare, and Sandeep Nailwal, a co-founder of Polygon Labs, were also part of this distinguished group.
As a researcher examining this situation, I would say that Matter Labs declared its intent to file for trademarks relating to Zero-Knowledge (ZK) technology in order to preserve the freedom to use this term alongside “ZK Sync,” “ZK Stack,” and other labels connected to the organization.
As a crypto investor, I’ve come across the belief that registering a trademark grants me exclusive ownership of a certain word or phrase. However, this isn’t entirely true. When you obtain a trademark, what you truly possess are the rights to use that specific word or phrase in association with your particular goods or services, but not for general use by others.
The dispute concerning ZkSync’s trademark application surfaced right before their planned mid-June airdrop event.
As a crypto investor and user of decentralized finance platforms, I’m always on the lookout for efficient and secure solutions to carry out my transactions on Ethereum without incurring high gas fees. Among the Layer 2 scaling solutions that have gained significant popularity lately is ZkSync. Unlike its counterparts like Optimism, Arbitrum, or Blast, which employ an optimistic rollup strategy, ZkSync is designed using Zero-Knowledge Succinct Non-Interactive Proofs (ZK-SNARKs) – a technology that allows for privacy and scalability without sacrificing security. By implementing this innovative approach, ZkSync enables faster transaction processing while ensuring the confidentiality of user data. This makes it an attractive option for those who prioritize both performance and privacy in their crypto investments.
During the announcement on March 28, Circle, the creator of USDC stablecoin, revealed that USDC would be directly connected to the ZkSync platform. This integration signifies a significant advancement in improving liquidity and accessibility within ZkSync, ultimately leading to increased efficiency and lower transaction costs.
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2024-06-03 12:47