It’s not the only company of its kind, with the likes of Arbitrum and Optimism also receiving plenty of publicity and funding. However, Matter Labs zero-knowledge proof approach has been praised for both its transaction speed and security. If it was easy however, many more companies would be doing it, so it appears that Matter Labs has made a significant headstart on the competition.

Over the last couple of years, the startup has secured some major funding from high-profile investors such as Andreessen Horowitz (a16z), and Union Square Ventures. Matter Labs released its recently renamed ZkSync Era - a zero-knowledge, open-source security platform on Ethereum in 2023. Matter Labs is predicting zero-knowledge cryptography to outlive alternative "optimistic" security tech from the likes of Arbitrum.