David - Cryptocurrency Enthusiast
Polygon, the Ethereum scaling project, is exploring new ways to integrate Zero Knowledge (ZK) technology into its main chain.
Polygon's efforts to bring ZK technology to its main chain are in addition to the previously disclosed plans to release a "ZK rollup". This layer 2 scaling system aims to increase the speed of blockchain transactions while reducing their cost. There’s major importance of ZK technology in the project's development roadmap, suggesting that ZK-based enhancements could eventually be made to the Proof-of-Stake (POS) chain.
Polygon has been successful in attracting big corporate partners, attracted by its fast and cheap transactions and marketing prowess. Meta Platforms announced its support for Non Fungible Tokens (NFT) from Polygon on Instagram, while investment-management giant Hamilton Lane opened its first "tokenized" fund on Polygon earlier this month.
ZK rollups are a cutting-edge scaling solution that harnesses the power of a complementary system to expedite transactions on the main blockchain network. Recently, Polygon has made waves in the blockchain world with its zkEVM testnet launch. This testnet integrates the Ethereum Virtual Machine (EVM), allowing Ethereum developers to effortlessly port their smart contracts over to the ZK rollup environment without the need to learn a new programming language. This is a major step forward in the quest for seamless scalability within the Ethereum ecosystem.
The release of the zkEVM will result in two networks running in parallel – the Polygon POS chain and the Polygon zkEVM. Each network will offer different trade-offs in terms of security, scalability, and transaction fees. Dapps can choose which network to use based on their preferred level of security, transaction throughput, and fees.
If the Polygon POS becomes ZK-compatible, it will become a Validium that uses proofs to ensure the validity of transactions. Unlike ZK rollups, it will store the transaction data off-chain on a separate network, allowing for more transactions to be processed at lower fees. However, this also means that the data will be stored off-chain, which is considered less secure.
Polygon's journey toward becoming a ZK-secure ecosystem is a significant step forward in the world of crypto asset management. The integration of ZK technology will drive the blockchain's ecosystem and provide a secure and trustworthy platform for buying and selling cryptocurrency. As the blockchain continues to attract big corporate partners, it is suggested to find a reputable cryptocurrency broker that offers the best cryptocurrency options to its users, such as - BCBitcoin.