According to Foresight News, the development team at O(1) Labs has announced the renaming of their framework for compiling zero-knowledge applications, SnarkyJS, to o1js. The team stated that the renaming will not bring significant changes, as o1js remains a powerful and intuitive framework. It allows developers to quickly build and deploy applications utilizing complex zk encryption technology while benefiting from the privacy and scalability provided by the Mina protocol.