Cronos Labs Partners with Matter Labs to Launch Cronos zkEVM Chain

According to Foresight News, Cronos Labs, the developer behind the Cronos blockchain, has announced a partnership with Matter Labs to launch a new Layer 2 network called 'Cronos zkEVM chain'. Initially, the network will be launched as a testnet and is based on Matter Labs' software tools, which can be used to launch new Layer 2 and Layer 3 'hyperchains' on Ethereum. The testnet is supported by zkSync's ZK Stack software suite, primarily developed by Matter Labs, and will add a new chain to Cronos' existing ecosystem, consisting of the Cronos EVM blockchain and Cronos PoS chain. The Cronos zkEVM mainnet is expected to launch in the second quarter of 2024.