Yes. The most popular encryption method is probably OMEMO nowadays (the Signal encryption protocol for XMPP).

Why not the internet standard XMPP? We need more standardization in instant messaging not more venture capital funded startups cooking up their own protocols.

Venture capital needs growth analytics and Matrix is desperate to prove growth to its investors: https://www.freie-messenger.de/en/matrix/gedanken/#user-numbers

Promote internet standards like XMPP or IRC over Matrix!