Home Blockchain Microsoft Web 3 Veteran Vassilis Tziokas Joins Matter Labs

Microsoft Web 3 Veteran Vassilis Tziokas Joins Matter Labs

by Sophie Smith

Microsoft veteran Vassilis Tziokas has joined Matter Labs, the zkSync developer, as the head of enterprise business development. With nearly eight years of experience at Microsoft, where he served as the global lead for web3 and AI business development and strategy, Tziokas aims to encourage enterprise adoption of web3 through zkSync’s Ethereum Layer 2 scaling solution.

Tziokas expressed his belief that web3 is the next generation of the internet, stating, “zkSync is a leading Layer 2 scaling solution for Ethereum, and I believe it has the potential to revolutionize the way businesses interact with the blockchain.” His appointment highlights Matter Labs’ commitment to attracting enterprise clients. The company is already collaborating with several Fortune 500 companies to develop web3 applications on zkSync.

According to Tziokas, zkSync scales Ethereum to become a highly scalable, reliable, and cost-effective computing platform, creating new possibilities for internet development. This includes banking services for the unbanked, enhanced security for enterprise systems, industry-specific protocols to drive global efficiencies, and novel user experiences similar to those witnessed during the rise of the internet, cloud, and mobile technologies.

zkSync is a Layer 2 scaling solution that utilizes zero-knowledge proofs to consolidate thousands of transactions into a single batch before submitting them to the Ethereum mainnet. This approach significantly improves transaction speed and reduces costs for users.

Tziokas’ move comes at a time of increasing enterprise interest in web3. According to a recent Gartner survey, 60% of enterprises plan to experiment with web3 technologies within the next year. With Tziokas’ experience and expertise, Matter Labs is well-positioned to capitalize on this growing interest.

Matter Labs, a venture-backed company developing zkSync, has attracted over $500 million in funding from prominent investors such as Andreessen Horowitz, Sequoia Capital, and Coinbase Ventures. Tziokas’ appointment further strengthens the company’s position in the market and its ability to cater to the enterprise sector’s needs.

In conclusion, Vassilis Tziokas joining Matter Labs as the head of enterprise business development signifies the company’s dedication to attracting enterprise clients to the web3 space. His experience at Microsoft and vision for the future of web3, combined with Matter Labs’ zkSync technology, positions the company for success in the growing enterprise interest in web3.

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