Huobi Ventures invests in zkSync

LONDON, Nov. 16, 2021 /PRNewswire/ -- Huobi Ventures, the investment arm of leading exchange Huobi Global, is beyond excited to be investing in Matter Labs. Besides the investment, Huobi will also be joining forces with zkSync in its mission in making self-sovereign participation in the digital economy — that is, maintaining complete control over one's digital assets — affordable for anyone in the world.

Huobi is integrating with zkSync to offer direct fiat onramp and offramps to zkSync's Layer 2. Huobi users will no longer need to pay expensive mainnet transaction fees to deposit and withdraw assets from zkSync, and zkSync users will be able to leverage Huobi's liquidity and scale.

JinBin Xie, Investment Manager of Huobi Ventures, said: "The significance of zkSync is that non-interactive Rollup could be achieved by importing Zero Knowledge Proof as well as zkEVM. More Dapps are eligible to be migrated to Layer 2. ZkSync 2.0 will spark a wave of DeFi movement to Layer 2."

About Huobi Group

As a world-leading blockchain company, Huobi Group was founded in 2013 with a mission to make breakthroughs in core blockchain technology and further the integration of blockchain technology with other industries. Huobi Group has expanded its products and services to public blockchains, digital asset trading, wallets, mining pools, proprietary investments, project incubation, digital asset research, and more. Huobi Group has established a global digital ecosystem through investing in over 60 upstream and downstream companies across the blockchain industry.

About Huobi Ventures

Huobi Ventures is a wholly-owned subsidiary of Huobi Group that focuses on global investments. Huobi Ventures' structure is divided into four business lines: Strategic Investment, Strategic M&A, Asset Management, and Global Cooperation. Thus far, Huobi Ventures has launched three funds to focus on Blockchain, HECO Ecology, and NFTs, respectively. Huobi Ventures aims to drive growth for Huobi Group and create a global ecosystem with our partners, visit Huobi Ventures for more info.

About Matter Labs

Matter Labs is the pioneer of Zero-Knowledge Proof technology on Ethereum. The company has launched the first-ever public ZK rollup prototype in early 2019, was the first to implement recursive ZK proofs on Ethereum, and created the world's first practical FPGA-based hardware for ZKP acceleration in 2020. Matter Labs recently launched a zkEVM testnet, making zkSync the first ZK rollup capable of executing native Ethereum smart contracts.

Matter Labs' team is rooted in the belief that cryptography and blockchain are essential technologies for protecting and fostering freedom globally. They enable mutually distrusting counterparts to collaborate without relying on authorities or third parties. Blockchains enabled by zero-knowledge proofs promise a fairer and more efficient global digital economy.

Matter Labs, a remote-first organization, is actively hiring.

About zkSync Protocol

zkSync is a ZK rollup, a Layer-2 scaling solution that preserves the security properties of the underlying blockchain by leveraging the latest generation of succinct zero-knowledge proofs.

zkSync v1 is a ZK rollup for payments, live on Ethereum mainnet since July 2020. Adopted by many protocols, wallets, and dapps, zkSync has powered over 4M transactions.

zkSync v2 is a ZK rollup for generic smart contracts that preserves EVM-compatibility and composability. The upcoming testnet currently has more than 150 registrations from projects across DeFi, NFT, Games, DAOs, Exchanges, On-Ramps, Wallets, Developer Tools, Data Analytics.

Learn more and keep up to date by visiting zkSync's Medium Blog and Twitter.

SOURCE Huobi Ventures