Matter Labs and Chainlink Forge Partnership to Unlock New Era of Scalability and Innovation for Ethereum Community

SAN FRANCISCO – Dec 14, 2023 – (SeaPRwire) – In an exciting new collaboration announced today, Matter Labs, builders of zkSync, the leading zero-knowledge rollup for Ethereum, is joining forces with Chainlink, the most widely used decentralized oracle network, to accelerate the adoption of scalable and secure layer-2 infrastructure across the Ethereum ecosystem.

By participating in Chainlink’s SCALE program, an initiative focused on expanding sustainable access to Chainlink oracles for layer 1 and layer 2 projects, zkSync receives increased support and reduced operating costs to integrate decentralized price feeds and other key oracle services for powering next-generation Web3 applications.

This allows zkSync, which leverages advanced cryptographic techniques called zk-SNARKs to compress and process transactions off-chain before batch settling securely on Ethereum, to scale cost-effectively while preserving the reliability, decentralization and security guarantees of layer-1. Developers now have an easy onramp to build high-throughput dApps on zkSync that can support millions of users.

“We’re thrilled to collaborate with Chainlink to drive forward secure and reliable scaling solutions for Ethereum,” said Matter Labs CEO and zkSync founder Alex Gluchowski. “This partnership unlocks the full potential of what our technology can achieve in terms of throughput and access for global consumers and enterprises to participate in Web3.”

On the Chainlink side, securing mainstream usage of zkSync’s cutting-edge zk-rollup technology allows the oracle network to provide tamper-proof price data to a rapidly expanding ecosystem of developers, end users and decentralized applications.

“We’re excited to welcome zkSync into the Chainlink SCALE program and accelerate the next generation of zero-knowledge applications,” said Chainlink Co-Founder Sergey Nazarov. “Chainlink oracles provide critical functionalities around decentralized connectivity, computation and randomness that scale blockchains to their full potential.”

The integration is already live, with Chainlink price feeds implemented natively on zkSync to give developers immediate access to accurate, transparent and secure market data for building scalable hybrid smart contract applications. Use cases include DeFi derivatives, tokenized assets, NFT and metaverse projects, and much more.

By combining the specialties of the two leading Ethereum scaling and oracle solutions, this partnership paves the way for the next major wave of innovation and adoption all across the blockchain industry.

SOURCE Chainlink Labs; Matter Labs

The article is provided by a third-party content provider. SeaPRwire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith.

Sectors: Top Story, Corporate News

SeaPRwire provides real time press release distribution for companies and organizations to 6,500+ media outlets & 3.5 million professional desktops in 90 regions. It distributes press releases in Singapore, Hong Kong, Taiwan, Greater China, Arab & MiddleEast, Vietnam, Thailand, Indonesia, Malaysia, Philippines, Germany, USA, Korea, Japan, France, Italy, Spain, Portugal & Brazil