Name Crisis in Ethereum Altcoins: Billion Dollar Giants Caught Up in Each Other!

Ethereum (ETH) altcoins are in turmoil after zkSync, which is expected to be airdropped soon, said that it will take the abbreviation ZK.

The cryptocurrency market was under fire after the giant altcoin project zkSync in Ethereum announced that it would soon be released to the market with the abbreviation ZK. Although Polyhedra, which was normally released in the past months, received the abbreviation ZK, the announcement that zkSync would still receive the same abbreviation sparked other criticisms.

Eli Ben-Sanson, CEO of StarWare, the developer of Starknet, stated in his statement on the subject that the attempt by MatterLabs, the developer of zkSync, to turn ZK into a trademark was ridiculous.

In his statement on Twitter, the CEO used the following sentences:

ZK cryptography was developed for the good of all. It is shameful to witness a company trying to expropriate “ToM” as private intellectual property. This is as absurd as an individual baker trying to impose a general patent on bread. We previously reached out to the Ethereum Foundation's legal team and offered to collaborate on creating a legal framework for using “ToM” and similar key technology terms in the public domain.

It was emphasized that zero-knowledge (ZK) technology has a special meaning and that some protocols use this technology. For this reason, it was considered strange that many projects used it as an abbreviation.

Polygon co-founders Sandeep Nailwal, Brendan Farmer, Eli Ben-Sanson and Polyhedra co-founder Matter Labs, which currently uses ZK as an acronym, asked to withdraw their application.

Polyhedra also noted that it will change the abbreviation of ZK to ZKJ.