The creators of the Ethereum layer 2 scaling solution zkSync, Matter Labs, have refuted claims that 921 Ether worth $1.7 million and 921 Ether $1,877 will be “stuck forever” in one of their new projects.
The declaration comes at a time when one zkSync startup is having trouble transferring the money it raised during its token sale. Matter Labs responded to the tweet with a confirmation that they are attempting to fix the issue and would shortly release a “detailed update.”
Its new zero-knowledge Ethereum Virtual Machine solution, zkSync Era, does not fully support the Ethereum Virtual Machine (EVM), which appears to be the root of the problem. The two approaches construct smart contract programs very slightly differently from one another, which in some situations may lead to compilation issues, even if the zero-knowledge roll-up technique is “EVM-equivalent”.
“Another example of why a chain shouldn’t be rushing its mainnet launch,” one member of the CryptoCurrency subreddit said in response to the situation. Always keep in mind that EVM compatibility is the same as EVM equivalent. “I fully support the advancement of Zero Knowledge technology in the cryptocurrency industry. These chains must, however, also take into account the reality that people’s money is on the line, added another.
GemstoneIDO is thought to be the project. (GEMS). The previous four transaction requests have been shown as “failing” on the zkSync explorer page, even though its smart contract has precisely 921 Ether in it.
Last week, Matter Labs announced the mainnet debut of zkSync Era, promising that the decentralized exchanges Uniswap and SushiSwap will go online shortly after. While that hasn’t happened yet, other projects on the network, such Argent, Celer Network, and MetaMask, are now operational. When Cointelegraph contacted Matter Labs, it reaffirmed that money wasn’t frozen in place indefinitely and promised to provide an update soon.