We have important news coming from the Polygon developers as they reveal the World’s Fastest ZK Scaling Technology, Polnky2. This is part of Polygon Zero’s mission to use 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 notice adds:
Plonky2 combines PLONK and FRI to produce the best STARKs, with reliable setupless and fast proofs, and the best SNARKs, with recursive support and low verification costs on Ethereum.
One of the strongest points of ZK-Proofs is recursion. Meaning it allows one SNARK to verify other SNARKs, making network performance faster. In addition to being faster, the recursive process is less resource intensive and more decentralized.
Recursive proofs greatly reduce proofing time and are therefore important for blockchain scalability.
Plonky2 Compatibility with Ethereum
As the blog post notes, Plonky2’s scaling technology is fully compatible with the Ethereum blockchain. The latest step will also help Polygon transition from being just a solutions provider to building the future of Ethereum. Notes of the blog post:
ZK L2 has benefited from a lot of hype, but current solutions based on cryptographic primitives are inefficient and limited in scalability. Ultimately, L2 will compete for throughput and cost, and Plonky2 gives the Polygon ecosystem the opportunity to build the most efficient and scalable L2.
This is yet another feather to the lid of Polygon that has released some promising updates over the past few months. Therefore, investors are also interested in using Polygon’s MATIC native cryptocurrency. Immediately following the news, the MATIC price increased by 3% and is currently trading at $2.16.