DUBAI, United Arab Emirates, October 28, 2021 (GLOBE NEWSWIRE) – MRHB Challenge World’s First Inclusive and Ethical DeFi Platform Integrates Ethereum Scaling Solution zkSync, developed by software experts Material laboratories.
The move means the MRHB DeFi ecosystem will benefit from the low cost transactions that zkSync enables, while developers will be able to use zkSync technology on the platform architecture to improve efficiency, speed, scalability, security and confidentiality.
ZK RollUp Solves Ethereum Scalability With Zero Security Compromises
zkSync is an innovative technology that is already live on the Ethereum mainnet. It allows extremely low transaction fees, relies on a trustless protocol, and keeps funds cryptographically secure. Transactions use zero-knowledge evidence and on-chain data availability to protect user funds, with computation and storage done off-chain.
“At Marhaba, we strongly believe that zkSync will lead the way as a zk-RollUp solution for Ethereum,” noted Deniz Dalkilic, CTO of MRHB DeFi. “Given its ability to fully support Solidity, a fast end with low costs while having the ability to secure unlimited amounts of TVL ($), this makes it the perfect L2 solution for DeFi. “
Built on the ZK Rollup architecture, zkSync ensures that it strictly inherits security guarantees from the underlying L1. Unlike sidechains, Rollup validators can never be corrupted. Compatible with smart contracts and exchanges, the technology enables interoperability of contracts and atomic exchanges over different exchange protocols and even includes native support for NFTs.
MRHB Technical Director Dalkilic stressed that Vitalik Buterin said that “in the medium to long term, ZK rollups will win in all use cases as ZK-SNARK technology improves”.
The technology is already used by a wide range of top blockchain projects, including Curve, Argent and Balancer, and has been supported in its ecosystem funding cycle by big names in the blockchain space including Binance, Huobi , Coinbase and many more.
An ethical and inclusive DeFi vision
MRHB DeFi was founded with the aim of providing better access to the growing opportunities and utilities of cryptovers for excluded and conservative communities, and has a particular focus on providing faith-based DeFi services that adhere to the ethical principles of investment and funding rooted in Islam. Finance, many of which align with the United Nations Sustainable Development Goals. These business practices include those that avoid interest, usury, social exploitation, and other acts deemed unethical, as well as sustainability, asset-backed / utility-backed financing, transparency, and the equitable sharing of assets. risks / rewards.
With the Islamic finance industry accounting for around $ 3 trillion in assets, bringing even a small portion of the Sharia-sensitive liquidity into DeFi will represent a major increase in the total value of the DeFi industry globally.
MRHB DeFi has also received strategic investments from Blockchain Australia, Mosaic, Contango digital assets, NewTribe Capital, Hookah finance, Acreditus Partners and EMGS Group.
About MRHB DeFi
MRHB (pronounced “Marhaba”) DeFi is a decentralized financial platform designed to bring ethics to the DeFi space with an approach that supports the inclusion of faith communities and other excluded communities in addition to crypto existing natives so that everyone can benefit from the full empowerment potential of DeFi to help build a true peer-to-peer financial and economic value system.
Based on blockchain principles such as trust, transparency and security, MRHB DeFi has encapsulated the universally applicable principles of Islamic finance into these blockchain principles to deliver a suite of offerings that are also ESG compliant.
The project is supported by a diverse and strong team with backgrounds spanning crypto, technology, faith-compliant investing, finance, and seasoned institutional veterans of the industry. The public offering will take place in December. Register your interest and learn more about MRHB’s Sharia Concept Paper DeFi, Lite and White Paper here.
Official MRHB DeFi channels
Telegram announcements: https://t.me/marhabadefi_ANN
Telegram (Arabic): https://t.me/mdf_arabic
Telegram (Russian): https://t.me/mdf_russia
Telegram (Turkish): https://t.me/MarhabaDefiTR
zkSync takes a crypto-driven approach to evolving blockchains and spearheading the scaling revolution by offering the cheapest token transfers on Ethereum. Next, they launch general programmability, EVM compatibility, and off-chain data availability for a seamless developer and user experience, for the lowest transaction fees.