Polygon: $1 billion bet on ZK Rollups is paying off

Odaily Planet Daily News Recently, Polygon co-founder Sandeep Nailwal mentioned in the keynote speech at the Token2049 conference in Singapore that Polygon has brought great benefits to the Ethereum ecosystem by investing US$1 billion to develop scaling solutions based on zero-knowledge (ZK) proofs. benefit. Nailwal also mentioned the progress of the “Polygon 2.0” scaling work and the potential of recursive ZK proof technology in creating a seamless interoperable blockchain ecosystem. Recursive ZK proof technology is key to enabling the aggregator layer, and Nailwal expects the technology to be deployed in the coming months. The technology will allow different blockchains to submit ZK proofs of their network state to an aggregator, which will then submit these joint proofs to the Ethereum network. Nailwal highlighted the potential benefits of shared value among high-liquidity chains such as zkEVM and proof-of-stake chains, noting that larger Layer 1 blockchain platforms have expressed interest in leveraging interoperable layers. A beta version of Polygon zkEVM went live in March 2023, allowing developers to deploy smart contracts and decentralized applications within it to achieve faster throughput and lower costs than Ethereum Layer 1. In addition, Polygon has launched a chain development toolkit that allows developers to build, customize and deploy Layer 2 chains that connect to the broader Ethereum ecosystem. (Cointelegraph)