Polygon Bets $1B on Zero-Knowledge Proofs to Scale Ethereum and Enable Interoperability

Polygon has allocated $1B to develop zero-knowledge proof scaling solutions for Ethereum
Co-founder believes recursive ZK-proofs are key to seamless interoperability between chains
Polygon's zkEVM beta launched on mainnet in March, allowing faster/cheaper dApps
Company recently launched Chain Development Kit to build customized layer-2 chains
Magazine Bitcoin "supercomputer" and BTC DeFi products coming soon

cointelegraph.com

Relevant topic timeline:

8/29/2023

Polygon Releases 'Chain Development Kit' for ZK-Powered Networks on Ethereum

Polygon has released an open-source toolkit called Chain Development Kit (CDK) that allows developers to build blockchains with zero-knowledge (ZK) proofs, enabling interoperability between different chains. This move comes as other layer 2 solutions are also releasing their own ZK-powered toolkits. Polygon aims to create a "Value Layer" that makes value transfer as seamless as information exchange over the internet.

9/14/2023

Polygon Unveils Roadmap to Transition to Web3-Focused Polygon 2.0 Ecosystem

Polygon Labs has introduced the first improvement proposals for its Polygon 2.0 ecosystem, marking the beginning of the transition to an interconnected layer-2 Ethereum ecosystem powered by zero-knowledge cryptography.

9/16/2023

Polygon Unveils Phase 0 of Polygon 2.0 Upgrade to Make POL the Native Token

Layer-2 scaling solution Polygon (MATIC) has initiated Phase 0 of its technical upgrade, introducing proposed changes to its protocols including the conversion of MATIC to POL token and the use of POL as the native gas token and staking token.

9/21/2023

Polygon Beats Out Optimism to Provide Layer-2 Scaling for Celo's Move to Ethereum

Polygon Labs, co-founded by Sandeep Nailwal, has proposed that the Celo blockchain utilize Polygon’s Chain Development Kit for its migration to a layer 2 network on Ethereum, amid competition from other layer 2 projects like Optimism’s OP Stack, to become the dominant technology for Ethereum’s interconnected layer 2 networks.

10/10/2023

Polygon Faces Headwinds as MATIC Price Struggles Despite Polygon 2.0 Launch

Polygon's native token (MATIC) experienced a rally followed by a decline due to resistance at $0.60, negative news regarding a co-founder's departure, and weak activity in its zero-knowledge rollup subnet, impacting its performance and creating stiff competition from other scaling solutions.

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Posted 9/13/2023, 11:13:57 AM