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Polygon co-founder's $1 billion bet on ZK-rollups proving successful

Polygon co-founder’s $1 billion bet on ZK-rollups proving successful

Polygon, a layer 2 blockchain firm, has invested $1 billion in zero-knowledge proof (ZK-proof) technology for its Ethereum scaling solutions. Co-founder Sandeep Nailwal discussed the development of Polygon 2.0 and the potential of recursive ZK-proof technology to create a seamless interoperable blockchain ecosystem. Nailwal emphasized the need for scalability and unified liquidity in the internet of value, and highlighted the importance of an aggregator or interoperability layer to merge ZK-proofs of different chains. The recursive ZK-proving technology will allow different blockchains to submit proofs to the aggregator, which then submits a proof to the Ethereum network. Nailwal believes that cross chain transactions could be executed in 4 to 5 seconds, significantly faster than Ethereum’s block time. The high liquidity chains of Polygon’s zkEVM and proof-of-stake chain can share value with applications, and larger layer 1 blockchain platforms have shown interest in joining the interoperable layer. Polygon’s zkEVM beta was launched in March 2023, offering faster throughput and lower costs than Ethereum’s layer 1. The company also introduced its Chain Development Kit for developers to build layer 2 chains connected to the Ethereum ecosystem.

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