Ethereum

Portal

Alex Gluchowski, CEO and co-founder of Matter Labs, announced on Sept. 3 that the company was restructuring and cutting 16% of its workforce.
According to Gluchowski, Matter Labs — the creator of Ethereum scaling solution ZKsync — has always thrived with a smaller team and has restructured the company to meet the needs of a rapidly evolving market.
<figure>
 <img alt="Matter Labs CEO announces company restructuring, layoffs" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191b8b3-14ce-732e-9213-cd49f244a6eb">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/gluk64/status/1830968752210375030" rel="nofollow noopener" target="_blank" text="null">Alex Gluchowski</a>
 </figcaption>
</figure>
More specifically, the CEO cited the scaled-back role of Matter Labs in the increasingly decentralized ZKsync ecosystem. Gluchowski explained via social media:
<blockquote>
 “The role of Matter Labs in the decentralized ZKsync ecosystem has evolved, too. The launch of the Elastic Chain and ZK Nation was the right moment to re-evaluate our strategy, goals, and team composition.”
</blockquote>
Gluchowski also announced severance packages for all impacted team members. The Matter Labs CEO concluded with a forward-looking statement highlighting roughly 12 blockchain projects launching on ZKsync’s Elastic Chain ecosystem this year and continued development on ZKsync Era by third-party developers.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blockchain-elections-zero-knowledge-tech" rel="" target="_self" text="null">Blockchain-based elections a real option with zero-knowledge tech</a>
<h2 id="matter-labs-steps-back-as-zksync-achieves-decentralization">Matter Labs steps back as ZKsync achieves decentralization</h2>
In September 2023, Matter Labs launched the ZKsync Ecosystem Portal in collaboration with DappRadar, which was touted as a major step in fully <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/matter-labs-zk-sync-launches-ecosystem-portal-dapp-radar" rel="" target="_self" text="null">decentralizing ZKsync’s ecosystem</a>.
When the portal was launched, spokespeople for ZKsync announced that “relinquishing control of the ecosystem is a key step in transitioning ownership to the community” before explaining that the next steps were to “fully decentralize” the protocol’s “technology, community governance” and critical infrastructure.
<h2 id="matter-labs-faces-backlash-for-attempting-to-trademark-zero-knowledge-proofs">Matter Labs faces backlash for attempting to trademark zero-knowledge proofs</h2>
Earlier in 2024, Matter Labs <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/matter-labs-zk-trademark-backlash" rel="" target="_self" text="null">applied for a trademark</a> on the term “zero-knowledge” to establish a claim for the intellectual property rights of the broad technology.
This sparked a backlash from industry executives. According to StarkWare CEO Eli&nbsp;Ben-Sasson, attempting to trademark <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/four-zk-proof-l2s-that-scaled-ethereum-in-2023" rel="" target="_self" text="null">zero-knowledge technology</a> is akin to a baker trying to claim exclusive intellectual property rights on bread.
The widespread condemnation eventually caused Matter Labs to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/matter-labs-drops-zk-trademark-applications" rel="" target="_self" text="null">drop all applications establishing intellectual property rights</a> over the term “ZK” in June 2024.
Magazine:<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-zero-knowledge-voting-finance/" rel="" target="_self" text="null"> Beyond crypto: Zero-knowledge proofs show potential from voting to finance</a>

Matter Labs CEO announces company restructuring, layoffs

Table of Contents

Cointelegraph

Other articles published on Sep 3, 2024

Tether to Launch Dirham-Pegged Stablecoin for UAE, Eyes Gulf Expansion

Vitalik Buterin Proposes Solution to Speed Up X’s Community Notes

Qubetics Whitelist Can Transform Crypto Investment as NEAR & ATOM Show Resilience

Things to know about Bitcoin this month

Justin Sun Addresses Concerns Over 12,000 Bitcoin Withdrawal from USDD’s Collateral

Tron Dominates with 47% Surge in Gas Revenue Amidst Market Shifts

Join our free newsletter for daily crypto updates!