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.

coindesk.com

Relevant topic timeline:

8/23/2023

Coinbase’s Chosen Blockchain Brand Sees Zero Threat from Zero Knowledge

Big crypto companies like Coinbase, Binance, and a16z are choosing OP Stack, a software building block created by Optimism, for their own layer-2 blockchain solutions despite the popular belief that zero-knowledge (ZK) rollups are the future of scaling Ethereum. The flexibility of OP Stack and the ease of implementation are key factors in this decision, with the expectation that companies will eventually migrate to ZK rollups once they are readily available.

9/7/2023

Polkadot 2.0 and the future of DOT, explained

The Polkadot network consists of three main components: the Relay Chain, parachains, and bridges, which work together to provide a secure and interoperable blockchain ecosystem that allows for decentralized applications and seamless communication between different blockchains. The network operates as a layer-0 blockchain, enabling the development of customized blockchains with cross-chain interoperability. Governance is carried out through a democratic voting process by token holders, and transaction validation is done through a nominated proof-of-stake mechanism.

9/11/2023

The Future of Blockchain is Interoperable, With Hundreds of Chains Communicating Securely

The future of blockchain is expected to be interoperable with the proliferation of multiple chains and the end of cross-chain bridge hacks, according to industry executives at Korea Blockchain Week. New products, such as Chainlink's Cross-Chain Interoperability Protocol (CCIP) and MetaMask Snaps, are set to bring about this interoperability and shift the focus from the specific blockchain used to the functionality of smart contracts. The goal is to establish a scalable and secure network of interconnected blockchains for seamless cross-chain transactions and increased utility.

9/13/2023

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

Polygon, a layer-2 blockchain firm, has invested $1 billion in zero-knowledge technology to develop Ethereum scaling solutions and create a seamless interoperable blockchain ecosystem.

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.

9/21/2023

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.

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Posted 8/29/2023, 2:00:00 PM