News

Matter Labs Files for ‘ZK’ Trademark as Industry Calls for Withdrawal

single-image

The CEO of StarkWare compared the attempt to trademark ZK-proofs to a “baker trying to impose a blanket patent on bread.”

Stay in the know on crypto by frequently visiting Crypto News Today

Outraged by the crypto industry, Matter Labs has filed trademark applications in nine different countries claiming exclusive ownership of the term “zero-knowledge.”

The company creating zkSync, Matter Labs, has attempted in the past to register a token with cryptocurrency exchanges under the ticker symbol “ZK” in an effort to solidify their control over the technological paradigm.

CryptoCaster Quick Check:

Cryptographic protocols known as zero-knowledge (ZK) technology allow one party (the prover) to persuade another (the verifier) that a specific claim is true without divulging any information about the claim itself.

Eli Ben-Sasson, CEO of StarkWare, called Matter Labs’ attempt to trademark ZK technology a “absurd IP grab.”

“ZK cryptography was developed for the good of all. It’s shameful to witness an IP land grab by a company trying to expropriate ‘ZK’ as private intellectual property. It’s as absurd as an individual baker trying to impose a blanket patent on bread.”

Experts in the crypto space demand that the trademark application be withdrawn.

In a letter made public, leading industry figures demanded that Matter Labs’ trademark application be withdrawn due to what they described as “oppressive behavior.”

Advertisement

Prominent individuals signed the open letter, including co-founders of Polygon Sandeep Nailwal and Brendan Farmer, CEO of StarkWare Eli Ben-Sasson, co-founder of Polyhedra Network and inventor of zkBridge Tiancheng Xie, and co-inventor of ZK-proofs and winner of the Turing award Shafi Goldwasser.

The letter observes:

“We believe that ZK is a public good that belongs to everyone. A company exploiting the legal system to annex a public good violates the crypto ethos, the Ethereum ethos, and the academic ethos. It even goes against Matter Labs’ own ethos…”

ZK proofs hold enormous promise for humanity, according to StarkWare CEO

Ben-Sasson of StarkWare stated that no one company should attempt to claim this paradigm as their own because of the potential of ZK technology.

“ZK cryptography has massive potential for humanity — actually far beyond blockchain. We, in blockchain, are honored to be pioneering its first great use case – and hope this propels it to many other use cases.”

Advertisement

ZK-proofs are relatively new technology, but they are becoming more and more crucial for digital identity solutions in the future.

Assuring a privacy-focused approach for users, Zk-proofs could be used as Europe’s new digital identity solution, according to Dr. Jonas Gross, CEO of Hakata, who stated:

“ZKPs have the potential to start a new paradigm of compliance that breaks down data silos around identity information.”


CryptoCaster™ steadfastly upholds its dedication to keeping our global audience well-informed about the ongoing adoption of blockchain technology, as well as the latest hurdles emerging from government-controlled fiat financial systems, banking conglomerates, and other major institutional entities. Our commitment extends to providing comprehensive updates and insights into how these developments affect the broader landscape of digital currencies, the potential regulatory impacts on blockchain innovations, and the evolving dynamics between traditional financial institutions and emerging cryptocurrency markets. By staying at the forefront of these critical issues, CryptoCaster™ aims to empower our audience with the knowledge needed to navigate the complex interplay of technology, regulation, and finance in the modern world. CRYPTOCASTER® - DECENTRALIZED FREEDOM! 


We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster


Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.


Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


CRYPTOCASTER HEATMAP


You may also like