We have some key news coming from the developers at Polygon as they unveil the world’s fastest ZK scaling technology, Polnky2. This is part of the Polygon Zero mission which uses zero-knowledge proofs to scale the Ethereum blockchain to one billion users.
According to the official announcement, Plonky2 is a recursive SNARK natively compatible with Ethereum and 100 times faster than existing alternatives. The announcement further adds:
Plonky2 combines PLONK and FRI for the best of STARKs, with fast proofs and no reliable setups, and the best of SNARKs, with support for recursion and low verification cost on Ethereum.
One of the biggest strengths of ZK-Proofs is recursion. This means that it allows a SNARK to check other SNARKs, making network performance even faster. In addition to being faster, the recursive process is less resource intensive and more decentralized.
Recursive proofs help to significantly reduce proof times and are therefore very critical for the scalability of the blockchain.
Plonky2 compatibility with Ethereum
As the blog post notes, Plonky2’s scaling technology is fully compatible with the Etheruem blockchain. the final step will also help Polygon grow from just a solution provider to building the future of Ethereum. The blog post notes:
ZK L2s have enjoyed a lot of hype, but current solutions rely on cryptographic primitives which are inefficient and limit scalability. Ultimately, L2s will compete on throughput and cost, and Plonky2 gives the Polygon ecosystem the opportunity to build the best performing and most scalable L2s.
This is yet another feather atop Polygon that has released promising updates over the past few months. As a result, investors are also keen to get their hands on Polygon’s native MATIC cryptocurrency. Shortly after the news, the MATIC price jumped another 3% and is currently trading at a price of $2.16.
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