According to Foresight News, Cronos Labs, the developer behind the Cronos blockchain, has announced a partnership with Matter Labs to launch a new Layer 2 network called 'Cronos zkEVM chain'. Initially, the network will be launched as a testnet and is based on Matter Labs' software tools, which can be used to launch new Layer 2 and Layer 3 'hyperchains' on Ethereum. The testnet is supported by zkSync's ZK Stack software suite, primarily developed by Matter Labs, and will add a new chain to Cronos' existing ecosystem, consisting of the Cronos EVM blockchain and Cronos PoS chain. The Cronos zkEVM mainnet is expected to launch in the second quarter of 2024.

The new "Cronos zkEVM chain" is launching initially as a test network, based on Matter Labs’ software tools, which can be used to spin up new layer 2 and layer 3 “hyperchains” atop Ethereum. source: https://www.coindesk.com/tech/2023/12/14/cronos-partner-of-cryptocom-to-start-layer-2-network-with-matter-labs/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

According to Foresight News, Matter Labs has announced a collaboration with Chainlink Labs to promote the adoption of the zkSync Era. As part of this partnership, Chainlink's oracle feed services have been integrated into the zkSync Era, allowing developers to access high-quality data for building high-performance decentralized applications (DApps). The collaboration aims to accelerate the adoption of zkSync, a Layer 2 scaling solution for Ethereum, by providing developers with reliable and secure data feeds through Chainlink's decentralized oracle network. This will enable the creation of more efficient and scalable DApps on the zkSync platform, ultimately benefiting the broader blockchain ecosystem. The integration of Chainlink's oracle services into the zkSync Era marks a significant milestone in the ongoing efforts to enhance the capabilities of the Ethereum network and promote the growth of the decentralized finance (DeFi) sector. By leveraging Chainlink's trusted data feeds, developers can build more robust and secure DApps, driving further innovation and adoption in the blockchain space.

According to Foresight News, security company ChainLight reported a bug in the zkSync Era mainnet's ZK circuit on September 15th. The bug, which was reported on the 19th, could potentially drain all tokens passing through cross-chain bridges and allow malicious provers to generate proofs for invalid executions. Validators' smart contracts on L1 would accept these proofs.Matter Labs has deployed a fix for the issue and awarded ChainLight 50,000 USDC as a reward. The discovery of the bug highlights the importance of ongoing security measures and vigilance in the world of blockchain technology.

Matter Labs released a new proposal in the zkSync community, proposing to deploy wstETH on the zkSync Era mainnet, which will be designed and implemented by TxFusion and Matter Labs. The proposal aims to formalize the ownership and control of the wstETH cross-chain bridge on zkSync through the Lido DAO, allowing wstETH to be seamlessly integrated into the zkSync Era DeFi ecosystem.

According to Foresight News, Matter Labs has released a new proposal in the zkSync community, aiming to deploy wstETH on the zkSync Era mainnet. The proposal intends to grant Lido DAO control over the wstETH cross-chain bridge component, which will be designed in collaboration between TxFusion and Matter Labs.

Ethereum Layer 2 zkSync developer Matter Labs said on Friday that GRVT will provide a Robinhood-like user experience and self-custody capabilities similar to Uniswap exchanges. Matter Labs says this will be zkSync’s first “hyperchain,” a custom blockchain that will operate as Layer 3 Validium within the zkSync ecosystem. Validiums is Ethereum L3 and operates very similarly to L2 zk-rollups, the main difference is that in zk-rollups the data is maintained on-chain while Validiums stores it off-chain. Matter Labs said that because Validiums encrypts data before adding it to the blockchain, it helps protect users from front-running and market manipulation. GRVT is expected to launch its closed alpha version next month and launch its mainnet in the first quarter of next year. It aims to deliver transaction speeds of up to 600,000 transactions per second with latency below two milliseconds via zkSync’s “horizontal scaling” infrastructure. GRVT’s token is expected to launch later in 2024. (The Block) According to previous news, hybrid crypto exchange GRVT announced the completion of two rounds of financing totaling US$7.1 million at a valuation of US$39 million.

Vassilis Tziokas, global head of Web3 and artificial intelligence business development at Microsoft, has joined zkSync developer Matter Labs after working at Microsoft for eight years. Tziokas said he hopes to use his previous experience to unlock the "holy grail" of Web3 and attract enterprises into the field through zkSync's L2 solution. Tziokas acknowledged that widespread enterprise adoption of Web3 technology still faces many challenges, citing vendor fragmentation, a lack of regulatory clarity and complex UX. (The Block)

Odaily Planet Daily News Matter Labs launched the zkSync ecosystem portal, which is managed by DappRadar. It aims to improve the degree of decentralization, increase the exposure of DApps, and increase portal joining channels for DApps.