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.

Bhushan is a FinTech enthusiast and has a good flair for understanding financial markets. His interest in economics and finance draws his attention to the new emerging markets of Blockchain technology and cryptocurrency. He is continually in a learning process and motivates himself by sharing his acquired knowledge. In his spare time, he reads thrillers and occasionally explores his cooking skills.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.