Taurus patnership with Polygon
- Polygon launched its zero-knowledge solution for the Ethereum ecosystem this year with the zkEVM and according to the brain behind it, it’s just the beginning of the scaling journey.
- Jordi Baylina also acknowledged other significant milestones this year, including Polygon 2.0 outlining the ecosystem’s scaling plans and Chain Development Kit.
As scalability took centre stage this year as adoption soared, developers worked hard on the best and most efficient scaling methods for their networks. Zero-knowledge rollups were among the most sought-after solutions, and the Polygon ecosystem has been a leader in the field. Jordi Baylina is at the heart of this revolution and in a recent interview, he delved into his efforts, including the zk-EVM that launched earlier this year.
Zero-knowledge rollups are one of two types, with the other being optimistic rollups. In essence, rollups process transactions on a layer 2 network which is faster and cheaper, and then relay the information back to the main layer, enabling scaling.
Polygon is the leader in this field and earlier this year, it rolled out the zkEVM, its zero-knowledge rollup which could plug into the Ethereum Virtual Machine (EVM). Baylina led the project and when it went live in March, Ethereum founder Vitalik Buterin made the first transaction, sending 0.005 ETH to a random address.
The launch of zkEVM was the biggest achievement for Baylina and his team and it got plaudits from the Polygon and Ethereum ecosystems, including from founders Sandeep Nailwal and Buterin respectively. Sandeep stated that he believed that in “18 to 24 months, you will see almost all of the large web3 applications being built on the zero-knowledge-proven layer 2 chains.”
At launch, over 50 companies committed to using the scaling solution. It also led to Matter Labs, another big player in the space, opening its zkSync solution to its users.
Leading Scaling at Polygon
While the zkEVM was the team’s crowning glory, Baylina also took pride in other developments, including the launch of the Chain Development Kit. The kit launched in August and it enables developers to build applications on the blockchain anchored by zero-knowledge proofs. In other words, developers can customize their layer 2 blockchains that are interconnected across the space through a bridge, making them all interoperable.
Polygon stated then, “The goal is simple: build the Value Layer of the Internet, a core protocol that makes creating, sending and receiving value of any kind as seamless and functional as sending or receiving information over the Internet.”
While Polygon offers other scaling solutions, Baylina and the team say that the kits are the best solution, allowing developers to upgrade their current Supernets architecture to leverage Polygon’s “industry-leading zk technology.” Supernets are customized blockchains that are built with a specific need or application in mind.
Meanwhile, Polygon’s MATIC is trading at $0.833, gaining 5% in the past day. It has gained 10% in the past week and its market cap currently stands at $7.7 billion, making it the 14th-largest crypto in the market.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Credit: Source link
