Ethereum scaling and privacy engine zkSync, a supercharged software built by blockchain specialists Matter Labs, has been integrated into MRHB DeFi, the world’s first inclusive and ethical DeFi ecosystem.
This development will bring a wide range of benefits to the entire MRHB DeFi ecosystem as users will benefit from the low-cost transactions enabled by zkSync, and developers will be able to leverage zkSync technology on the platform’s architecture to increase efficiency, speed, scalability, security, and privacy.
zk-Sync is at the core of Ethereum’s scalability with a high layer of security architecture.
zkSync is a cutting-edge technology that is operational and widely used on the Ethereum mainnet. It boasts of incredibly cheap transaction costs, uses a trustless system, and keeps funds cryptographically safe. Transactions on zkSync leverage zero-knowledge proofs and on-chain data availability to keep users’ funds secure, with computation and storage conducted off-chain.
By design, zkSync assures that it rigorously inherits the security guarantees of the underlying L1, according to its zk-Rollup framework. Rollup validator(s) cannot be corrupted in the same way that side-chains may. The system enables contract interoperability and atomic swaps on multiple exchange protocols, as well as native support for NFTs, and is smart contract and exchange friendly.
“At Marhaba, we strongly believe zkSync will lead the way as a zk-RollUp solution for Ethereum,” said Deniz Dalkilic, CTO of MRHB DeFi while commenting on the significance of this partnership “Given its ability to fully support Solidity, fast finality with low fees while having the ability to secure unlimited amounts of TVL ($), it makes it the perfect L2 solution for DeFi.”
The zk-Rollup has witnessed an astronomical adoption rate and is already being used by a number of well-known blockchain projects, including Curve, Argent, and Balancer. In its early fundraising rounds, it was backed by industry heavyweights including Binance, Huobi, Coinbase, and others.
A DeFi Vision That Is Both Ethical and Inclusive
Founded with the goal of enabling a refined community to gain greater access to the opportunities and utilities domiciled within the crypto landscape, MRHB DeFi focuses on providing faith-based DeFi services that adhere to Islamic Finance’s ethical investment and financing principles, many of which align with the United Nations Sustainable Development Goals.
The goal is to pioneer a financial ecosystem that avoids interest, usury, social exploitation, and other immoral behaviors, as well as those that encourage sustainability, asset/utility-backed finance, transparency, and fair risk/reward sharing.
The Islamic Finance industry currently sits at a market capitalization of roughly USD 3 trillion, introducing even a tiny fraction of Shariah-sensitive liquidity into DeFi would significantly increase the sector’s overall value. MRHB DeFi remains committed to leading this revolution.
High-ranking portfolio managers and firms have already made strategic investments in MRBH DeFi including Blockchain Australia, Mozaic, Contango Digital Assets, NewTribe Capital, Sheesha Finance, Acreditus Partners, and EMGS Group.