ZKcandy is a layer-2 scaling solution built using the ZK-Stack by Matter Labs for Ethereum that utilizes zero-knowledge proofs to enable faster and more cost-effective transactions. It aims to address some of the scalability challenges faced by the Ethereum blockchain, such as high transaction fees and slow confirmation times.
As a Zero Knowledge Rollup (ZK-Rollup), ZKcandy is a layer-2 scaling solution that enables a large number of transactions to be processed off-chain while maintaining the security guarantees of the Ethereum mainnet. Zero-knowledge proofs are cryptographic techniques that allow a party to prove possession of certain information without revealing the actual information itself.
With ZKcandy, users can perform transactions and smart contract interactions off-chain, and only the essential information is submitted to the Ethereum mainnet. This helps reduce congestion on the mainnet and lowers transaction costs, making it more feasible for various applications, including Web3 gaming, decentralized finance (DeFi) and other blockchain-based services.
Matter Labs is a blockchain technology company that focuses on developing solutions to improve the scalability and efficiency of blockchain networks. One of its notable projects is ZKsync, which is a layer-2 scaling solution for Ethereum based on zero-knowledge proofs.
Matter Labs has raised about $485M from the likes of A16Z, Lightspeed Ventures, Variant, BitDAO among many others.
iCandy Interactive Limited (iCandy) stands as one of the major game development studios in Southeast Asia and Oceania. As a publicly listed company on the ASX, iCandy boasts over 650 full-time employees, operating gaming studios in Germany, Thailand, Malaysia, Singapore, and Australia. Noteworthy shareholders in iCandy encompass Animoca Brands, Singtel, SK Telecom, AIS, Baidu, and others.