The release is the product of a16z’s first foray into deep tech research.
New Technology Will Have Institutions Lining Up for Crypto
The zero-knowledge Ethereum Virtual Machine enables real world asset tokenization on a far greater scale, says Colin Butler at Polygon Labs.
If ZK Is The ‘End Game,’ Is Polygon (MATIC) Ready For $3?
With zero knowledge (ZK) proofs expected to be a game changer for blockchain scaling, Polygon may be on the brink of a major rally. Taking to X on February 2, crypto market commentator Polynya, asserts that ZK technology is the “endgame” as its “1,000x efficiency upside is irresistible for networks.”
Will “ZK” Technology Be The “End Game”?
This forecast on ZK adoption is massive for Polygon and its native token, MATIC, which has been under significant selling pressure in the past few trading months. As it is, Polygon Labs, the developer of the Ethereum sidechain, has been at the forefront, advocating for the development of ZK scaling solutions.
In 2021, Polygon began assembling a team to develop zkEVM, a technique relying on zero knowledge to scale Ethereum cheaply while being compatible with the EVM. Recent Polygon Labs documentation shows that their zkEVM is in beta and being tested.
However, this hasn’t stopped the team from striking deals with layer-1 protocols interested in harnessing this technology.
In mid-January, NEAR Protocol’s Data Availability (DA) solution was integrated with Polygon’s custom blockchain development kit (CDK). The goal was to make it easier for developers to create ZK rollup solutions suitable for their needs while leveraging NEAR Protocol‘s infrastructure. All this is when ensuring the integration lowers cost and improves performance.
Polygon Labs has also partnered with other platforms, including Immutable–a layer-2 web3 solution for NFTs; Ankr–an infrastructure provider; and QuickSwap–a decentralized exchange (DEX). Most of these platforms plan to operate as layer-2s for Ethereum.
The total value locked (TVL) in layer-2 protocols remains in an uptrend, according to L2Beat. These platforms command over $21 billion. So far, the largest layer-2 protocols, Arbitrum, Optimism, and Base, use Optimistic Rollups.
Is Polygon (MATIC) Ready For $3?
This is a bullish development for Polygon. Moreover, at this pace, it is likely to cement Ethereum, the pioneer layer-1 and smart contract platform, as a dominant settlement layer despite on-chain scaling concerns and relatively high fees.
From a price point perspective, MATIC will likely benefit as more platforms adopt Polygon’s zkEVM solutions. So far, MATIC is stable but firm when writing on February 2. From the daily chart, MATIC has support at around $0.70. On the upper end, the immediate resistance level is at $1.
Spurred by partnerships as more platforms use zkEVM, fundamental developments might drive MATIC even higher in the coming sessions. If MATIC finds momentum, the medium- to long-term target will be $3, or a 2021 high.
Polygon Stops Work on ‘Edge,’ Used to Build Dogechain, as Focus Turns to ZK
Polygon Labs, a developer of scaling networks for Ethereum, has shifted toward “Polygon CDK,” a blockchain-development kit powered by zero-knowledge cryptography. The older “Polygon Edge” was used by Dogechain, in an unofficial effort to build a Dogecoin-oriented smart-contracts network.
Chainlink Data Feeds Available on Polygon zkEVM
Developers building on Polygon’s zkEVM will be able to incorporate these data feeds into their on-chain applications.
Chainlink Data Feeds Available on Polygon zkEVM
Developers building on Polygon’s zkEVM will be able to incorporate these data feeds into their on-chain applications.
Cronos, Partner of Crypto.com, to Start Layer 2 Network With Matter Labs
The new “Cronos zkEVM chain” is launching initially as a test network, based on Matter Labs’ software tools, which can be used to spin up new layer 2 and layer 3 “hyperchains” atop Ethereum.
Immutable's zkEVM to eliminate Web3 gaming gas fees
Immutable’s blockchain protocol will allow the game studio to cut out gas fees for users, which is widely cited as a significant barrier to Web3 gaming adoption.
Immutable's zkEVM to eliminate Web3 gaming gas fees
Immutable’s blockchain protocol will allow the game studio to cut out gas fees for users, which is widely cited as a significant barrier to Web3 gaming adoption.
Immutable's zkEVM to eliminate Web3 gaming gas fees
Immutable’s blockchain protocol will allow the game studio to cut out gas fees for users, which is widely cited as a significant barrier to Web3 gaming adoption.
Ethereum scaling firm =nil; Foundation introduces security-focused zkEVM
A new Ethereum zero-knowledge proof compiler could address security concerns identified in different zkEVM solutions.
Polygon 2.0: 2024 to see unified ZK-powered L2 chains
Polygon’s evolution will continue into 2024 as various protocols that make up its ecosystem become increasingly interconnected through the use of zero-knowledge proofs.
Starknet and zkSync buck trend as crypto ecosystems shed devs by 28%
Monthly active developers across the crypto ecosystem fell 28% year-on-year in October, though some have managed to buck the trend.
Ethereum layer 2 zkEVM ‘Scroll’ confirms mainnet launch
Blockchain data from Etherscan suggest Scroll’s mainnet was live over a week ago.
Scroll zkEVM Launches, Blockchain Data Shows, Competing With Polygon, Matter Labs
The new Ethereum layer-2 network’s debut adds to the competition among rival providers of so-called “zkEVMs,” including Polygon and Matter Labs.
Idealistic Ethereum community-built zkEVM Scroll launching in weeks
Scroll co-founder Ye Zhang is aiming for a community-driven decentralized immutable scaling solution for Ethereum.
Coinbase’s Chosen Blockchain Brand Sees Zero Threat from Zero Knowledge
Many Ethereum aficionados have predicted that the most promising layer-2 blockchains would be built not using the OP Stack’s “optimistic rollup” technology – favored by the U.S. crypto exchange Coinbase – but with a different setup known as “ZK rollups,” reliant on “zero-knowledge” cryptography.
Immutable zkEVM begins testnet phase with 12 Web3 games in development
The Web3 gaming company announced that its fully Ethereum-compatible network is now available for public testing.
Healthy competition welcome — Polygon zkEVM lead
Prominent Ethereum development firms have rolled out varying zero-knowledge scaling solutions that drive healthy competition in the ecosystem.
ConsenSys launches Linea zkEVM to further scale Ethereum
ConsenSys rolls scaling network Linea, which delivered faster throughput and 15 times lower transaction costs than Ethereum’s layer 1.