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.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards