The first audit report has revealed that innovative Ethereum scaling solution zkSync 2.0 is right on track in the race to become the industry’s first EVM-compatible zero-knowledge rollup. Click here to view the full ZKsync Layer 1 Audit report.
London, UK — 23.11.22 — OpenZeppelin, a leading provider of smart contract security solutions, has announced a new partnership with zkSync developer Matter Labs. OpenZeppelin will apply its expertise in security audits and monitoring to zkSync 2.0, a zero-knowledge (ZK) Rollup compatible with the Ethereum Virtual Machine (EVM) designed to scale the blockchain without degrading decentralization or security.During a four week period, OpenZeppelin meticulously audited Matter Labs’ Layer-1 building block of zkSync 2.0, concluding that the project has 0 critical issues so far.
“It goes without saying that this protocol is highly complex, but Matter Labs was really responsive and helpful, clarifying any doubts we had, and provided dedicated documentation. The design is sound and the code is in a good spot overall,” Felix Wegener, Security Research Lead at OpenZeppelin reported, concluding, “Hence, no high or critical severity issues were identified.”
zkSync 2.0 is a permissionless, end-to-end ZK Rollup that supports generalized EVM compatibility for the Ethereum blockchain. The primary benefit of zkSync 2.0 is that developers building EVM DApps can port to zkSync 2.0 effortlessly, with low gas fees and high transaction speeds — all without compromising security or decentralization. The alpha version of zkSync 2.0 was released on October 28, 2022, as part of a three-step process of bringing the technology fully into production.
In turn, OpenZeppelin is a trusted name in the cybersecurity space for DeFi and non-fungible token (NFT) projects. It has safeguarded tens of billions of dollars for leading crypto organizations, including the Ethereum Foundation, ANZ Bank, Chainlink, Coinbase, Compound, AAVE, and many others.
In line with the new partnership, OpenZeppelin has now completed the first phase of its security audits, with more continuous check-ups of Matter Labs’ codebases to follow. This actionable feedback should greatly help the team further refine their smart contracts. The collaboration will also include researchers offering security feedback on-demand and in-between audits, as OpenZeppelin provides security guidance on optimizing the best general Web3 practices to enhance secure code development going forward.
“Security is one of the most pressing issues in crypto today, especially when it comes to innovative, industry-first solutions such as zkSync 2.0. As we’re treading these yet uncharted waters, the safety of the whole ecosystem is a top priority for us,” said Steve Newcomb, Chief Product Officer at Matter Labs. “As we progress toward our Full Launch Alpha where we welcome the ecosystem onto zkSync 2.0, we want to ensure that we open the gates to the community in the safest environment possible, giving our users peace of mind. OpenZeppelin is a recognized authority in Web3 security, and their continuous real-time monitoring goes above and beyond one-time audits, so zkSync 2.0’s protection is in extremely good hands.”
For security monitoring, OpenZeppelin will work with Matter Labs to use Defender, a Security Operations Platform, in addition to developing custom bots on the Forta network, a decentralized Web3 alarm system incubated by OpenZeppelin and backed by a16z, Blockchain Capital, Coinbase, and others. This system monitors smart contracts and transaction activity in real time and emits public alerts about threats and anomalies. OpenZeppelin also offers monitoring recommendations as part of its advisory report.
Since its launch in October 2021, Forta has already been integrated by some of the most prominent projects in decentralized finance (DeFi), including Lido, Compound, dYdX, MakerDAO, Instadapp, UMA, Balancer, and more, with over $36 billion in total value locked.
In addition to the security feedback provided by auditors, OpenZeppelin will assign personnel to become Matter Labs’ technical and security advisors. These individuals will provide advice and guidance to assist the team in planning, building, and maintaining its blockchain solutions using smart contract security best practices.
For more information, please contact:
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About OpenZeppelin
OpenZeppelin has built the world’s leading Open Source library for smart contract development. Today, OpenZeppelin Contracts powers over 3,000 public projects, with over 7,000 stars on Github and maintained by a community of 180+ contributors. The company also conducts security audits for the Ethereum Foundation, Coinbase, and other leading organizations in the space. With the success of its product, its security audits work, and its educational efforts, OpenZeppelin has set industry standards for building secure systems in a fast-growing sector, which presents new programming paradigms. OpenZeppelin is now excited to offer a development platform that will help the growing number of developers working on top of decentralized protocols build the applications that will reach mass adoption.
About Matter Labs
Matter Labs is the team behind zkSync, an EVM-compatible ZK-ollup which scales Ethereum’s values and technology without degrading the blockchain’s decentralization or security. This technology enables anyone to easily and seamlessly port their projects from older EVM-compatible solutions to zkSync 2.0 and holds the promise of being the endgame for scaling Ethereum, unlocking millions of use cases and creating an ecosystem that could benefit billions of people by enabling everyone to achieve personal sovereignty.
For more information, visit zksync.io or matter-labs.io
For press inquiries, please contact media@matterlabs.dev
