Speculation mounts over Polygon’s major announcement at the up and coming zk Summit

Ethereum layer-2 scaling platform Polygon is internet hosting the zk Summit subsequent Thursday. The agency payments the occasion as an area to debate zero-knowledge expertise to look at its use in advancing the cryptocurrency sector.

“Be a part of the main lights of the Zero-Information area for a dialogue about the way forward for zk-STARKs and functions of ZK proofs.”

Concluding the tweet thread, Polygon teased a serious announcement to be revealed throughout the Summit – constructing hypothesis over what this might be.

4/4 And yet one more factor…

#Polygon might be making a serious announcement throughout the summit.

️ Save Your Spot Now: https://t.co/eQxFL69MkP to witness the thrilling announcement!

— Polygon | $MATIC – We’re hiring! (@0xPolygon) December 1, 2021

What’s zero-knowledge?

Zero-knowledge refers to a verification methodology by which one social gathering (the prover) can show to a different (the verifier) {that a} assertion is true with out revealing details about stated assertion.

“In a zero-knowledge proof system, the prover is ready to show to the verifier that they’ve the data of a specific piece of data (corresponding to the answer to a mathematical equation) with out revealing the knowledge itself.”

When mixed with different applied sciences, corresponding to zk-SNARKs, by which the prover and verifier don’t work together, the bedrock for enhanced privateness and safety is in place.

Equally, mixed with rollups, by which transactions are batched collectively and submitted to the mainchain by way of a single transaction, can enhance scalability by chopping the variety of transactions wanted to be processed.

All in all, contemplating Ethereum’s scaling issues and the following knock-on impact of a community at capability on fuel charges, Polygon’s analysis and improvement on this space are lengthy overdue.

Polygon hosts the zk Summit

The schedule for the Polygon hosted zk Summit on December 9 is as follows:

16:00 GMT – Introduction that includes the Polygon co-founders Sandeep Nailwal, Jaynti Kanani, and Mihailo Bjelic.
16:20 GMT – Main announcement reveal.
17:00 GMT – Polygon Dusk – a privacy-focused rollup answer.
17:30 GMT – Polygon Miden – an Ethereum Digital Machine rollup answer.
18:00 GMT – Polygon Hermes – one other rollup answer, however this time based mostly on working on the Hermes Community, which built-in with Polygon in August in a $250 million deal.
19:00 GMT – Panel dialogue.

The occasion guarantees stay demonstrations of the expertise in motion. However probably the most engaging merchandise within the schedule is the main reveal. Other than the apparent, one thing regarding zk expertise, hypothesis is rife surrounding how this pertains to Polygon.

Since mid-November, $MATIC has been trending upwards, posting 16% beneficial properties on Wednesday off the again of stories 21Shares is itemizing a $MATIC based mostly Trade-Traded Product (ETP) on Euronext Paris in EUR, and Euronext Amsterdam in USD.

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