In Brief:
- Polygon launches the world’s fastest ZK scaling technology, Plonky2.
- Plonky2 just requires 0.17 secs to generate recursive proofs on a laptop.
- Plonky2 combines PLONK and FRI for the best of STARKs, with support for recursion and low verification cost on Ethereum.
The layer 2 scaling solution Polygon announced the launch of Plonky2, the world’s fastest ZK scaling technology.
Plonky2 technology is a recursive SNARK that is compatible with Ethereum and is 100x faster than already existing alternatives. It allows to speed up proving times for proofs that don’t involve recursion.
This is part of the Polygon Zero mission, which aims to expand the Ethereum blockchain to a billion users via zero-knowledge(ZK) proofs.
“Succinct non-interactive argument of knowledge,” or SNARK, is a sort of cryptographic proof that verifies the validity of data without disclosing its contents.
Plonky2 only requires 0.17 secs to generate recursive proofs on a laptop making it the fastest at present time. It supports ETH transactions and is practical to verify on Ethereum L1.
Plonky2 combines PLONK and FRI for the best of STARKs, with fast proofs and no trusted setup, and the best of SNARKs, with support for recursion and low verification cost on Ethereum.
Recursive proofs are essential for blockchain scalability since they drastically reduce proving durations.
The launch will assist Polygon in transitioning from being just a solution provider to developing the future of Ethereum.
Polygon’s native token MATIC’s price surged another 3% after the launch announcement and at the time of writing it is trading at $2.15.
Just last week Polygon hit headlines when it was revealed that a recent update to its mainnet was issued to fix a bug that could have led to a theft of over $24B worth of its MATIC tokens. Polygon also announced that it is giving a $2.2 million bounty to Leon Spacewalker and 500,000 MATIC to Whitehat2 for helping them in resolving the bug.
