Polygon co-founder - $1B bet on ZK-rollups paying off

Polygon co-founder Sandeep Nailwal believes the furniture 2 blockchain steadfast is reaping the benefits of allocating $1 cardinal to make zero-knowledge impervious (ZK-proof) powered scaling solutions for the Ethereum ecosystem.

Speaking astatine a keynote code during the latest variation of the Token2049 league successful Singapore, Nailwal touched connected the improvement of 'Polygon 2.0' scaling efforts and the committedness of recursive ZK-proof exertion to make a seamless interoperable blockchain ecosystem.

Polygon co-founder Sandeep Nailwal astatine Token2049 successful Singapore.

Nailwal highlighted however Web2 and Web3 are akin successful signifier and function, with the erstwhile serving arsenic the net of accusation with “practically unlimited scalability” arsenic good arsenic the quality to transportation oregon convey accusation successful assorted forms seamlessly crossed the satellite astatine large speeds.

Related: Polygon’s ‘holy grail’ Ethereum-scaling zkEVM beta hits mainnet

Web3 meantime represents the “internet of value”, which according to Nailwal volition necessitate 2 capabilities to go ubiquitous.

“Firstly, infinite, unlimited unbounded scalability and unified liquidity for worth to beryllium transferred. There cannot beryllium 100 chains with the worth distributed crossed and they cannot interoperate.”

In bid to pat into the characteristics that person made Web2 capable to go the net of information, Nailwal pointed to the value of an aggregator oregon interoperability furniture to amalgamate ZK-proofs of antithetic chains to a communal layer.

“The infinitesimal those 2 proofs are submitted connected Ethereum layer, we person a mechanics wherever we person a planetary authorities way connected Ethereum and past immoderate benignant of liquidity tin determination crossed the concatenation without coming to Ethereum.”

Recursive ZK-proving technology holds the cardinal to this aggregator furniture which Nailwal expects to beryllium deployed successful the coming months. The exertion volition let antithetic blockchains to taxable ZK-proofs of their web authorities to the aggregator, which past submits a impervious of these combined attestations to the Ethereum network.

“Our extremity is that this proving volition yet spell down to similar astir apt 2 seconds. So each concatenation is submitting a impervious of immoderate has happened connected their ecosystem oregon connected their concatenation each 2 seconds to this aggregator layer.”

The Polygon co-founder believes that transverse concatenation transactions could beryllium executed successful 4 to 5 seconds, 1 3rd of an Ethereum artifact time, which volition statesman to consciousness “like 1 azygous large artifact space.”

Nailwal highlights the imaginable payment of having precocious liquidity chains similar it's zkEVM and proof-of-stake concatenation to stock worth to applications, portion noting that larger furniture 1 blockchain platforms person expressed involvement successful tapping into an interoperable layer.

“Anybody tin articulation this furniture and it's a communal win-win due to the fact that everybody benefits from each other's liquidity.”

Polygon zkEVM's beta hit mainnet successful March 2023, allowing developers to deploy astute contracts and decentralized applications that payment from faster throughput and little costs than Ethereum's furniture 1.

The institution besides precocious launched its Chain Development Kit, which allows developers to build, customize and deploy furniture 2 chains connected to the wider Ethereum ecosystem.

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