According to Cointelegraph, Polygon co-founder Sandeep Nailwal believes the layer 2 blockchain firm is benefiting from allocating $1 billion to develop zero-knowledge proof (ZK-proof) powered scaling solutions for the Ethereum ecosystem. During a keynote address at the Token2049 conference in Singapore, Nailwal discussed the development of 'Polygon 2.0' scaling efforts and the potential of recursive ZK-proof technology to create a seamless interoperable blockchain ecosystem.
Nailwal compared Web2 and Web3, noting that Web2 serves as the internet of information with practically unlimited scalability, while Web3 represents the internet of value. To achieve ubiquity, Web3 will require infinite scalability and unified liquidity for value transfer. Nailwal emphasized the importance of an aggregator or interoperability layer to combine ZK-proofs of different chains to a common layer.
Recursive ZK-proving technology is key to this aggregator layer, which Nailwal expects to be deployed in the coming months. The technology will allow different blockchains to submit ZK-proofs of their network state to the aggregator, which then submits a proof of these combined attestations to the Ethereum network. Nailwal envisions cross-chain transactions being executed in 4 to 5 seconds, one-third of an Ethereum block time, making it feel like one single large block space. He also noted that larger layer 1 blockchain platforms have expressed interest in tapping into an interoperable layer.
Polygon's zkEVM beta hit mainnet in March 2023, allowing developers to deploy smart contracts and decentralized applications with faster throughput and lower costs than Ethereum's layer 1. The company also recently launched its Chain Development Kit, enabling developers to build, customize, and deploy layer 2 chains connected to the wider Ethereum ecosystem.
