Polygon co-founder - $1B bet on ZK-rollups paying off
Polygon co-founder Sandeep Nailwal believes the layer 2 blockchain firm is reaping the benefits of allocating $1 billion to develop zero-knowledge proof (ZK-proof) powered scaling solutions for the Ethereum ecosystem.
Speaking at a keynote address during the latest edition of the Token2049 conference in Singapore, Nailwal touched on the development of 'Polygon 2.0' scaling efforts and the promise of recursive ZK-proof technology to create a seamless interoperable blockchain ecosystem.
Nailwal highlighted how Web2 and Web3 are similar in form and function, with the former serving as the internet of information with “practically unlimited scalability” as well as the ability to transfer or convey information in various forms seamlessly across the world at great speeds.
Related: Polygon’s ‘holy grail’ Ethereum-scaling zkEVM beta hits mainnet
Web3 meanwhile represents the “internet of value”, which according to Nailwal will require two capabilities to become ubiquitous.
In order to tap into the characteristics that have made Web2 able to become the internet of information, Nailwal pointed to the importance of an aggregator or interoperability layer to amalgamate ZK-proofs of different chains to a common layer.
Recursive ZK-proving technology holds the 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.
The Polygon co-founder believes that cross chain transactions could be executed in 4 to 5 seconds, one third of an Ethereum block time, which will begin to feel “like one single big block space.”
Nailwal
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