{"id":14992,"date":"2021-12-09T18:46:24","date_gmt":"2021-12-09T17:46:24","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=14992"},"modified":"2021-12-09T18:46:35","modified_gmt":"2021-12-09T17:46:35","slug":"polygon-plans-to-dedicate-250m-matic-to-deal-with-zero-knowledge-tech","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/polygon-plans-to-dedicate-250m-matic-to-deal-with-zero-knowledge-tech\/","title":{"rendered":"Polygon plans to dedicate 250M MATIC to deal with zero-knowledge tech"},"content":{"rendered":"\n
Sandeep Nailwal, Polygon's co-founder, remarked that “Polygon<\/a> plans to focus on ZK cryptography as the end game for blockchain scaling.”<\/h5>\n\n\n\n
\"Polygon<\/figure>\n\n\n\n

A scalability solution for Ethereum Polygon \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>has announced that it will commit up to 250 million MATIC tokens ($627.5 million) to a partnership with Mir, a zero-knowledge cryptography business.<\/p>\n\n\n\n

Polygon's Plan<\/h2>\n\n\n\n

External validators can verify encrypted transactions or documents using zero-knowledge methods without revealing the sensitive information buried beneath. It's beneficial for decentralized finance <\/a>applications that require nodes to validate the personal data of blockchain participants without risking privacy leaks, such as decentralized ride-sharing apps or decentralized health insurance.<\/p>\n\n\n\n

Mir specializes in PLONK and Halo, two subcategories of zero-knowledge proofs. Both are improvements on existing SNARK and STARK cryptography <\/a>systems, allowing for proof generation in seconds.<\/p>\n\n\n\n

While PLONK still requires a trustworthy configuration for validation, Halo algorithms can do so without a central server. In zero-knowledge proofs, speed is a key design consideration. Complex data <\/a>to be sent via blockchains, such as redacted photo IDs, might take up a lot of space, limiting the transaction's usefulness.<\/p>\n\n\n\n

Sandeep Nailwal, Polygon's co-founder, claimed, “Polygon aims to focus on ZK cryptography as the end game for blockchain <\/a>scaling.”<\/p>\n\n\n\n

\u201cWe have made a strategic decision to explore and encourage all meaningful scaling approaches and technologies at this stage. We believe this is the way to establish Polygon <\/a>as the leading force and contributor in the ZK field and onboard the first billion users to Ethereum.\u201d<\/p><\/blockquote>\n\n\n\n

Polygon's acquisition of Mir is part of a larger $1 billion commitment to zero-knowledge technology <\/a>development.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sandeep Nailwal, Polygon’s co-founder, remarked that “Polygon plans to focus on ZK cryptography as the end game for blockchain scaling.” A scalability solution for Ethereum Polygon has announced that it will commit up to 250 million MATIC tokens ($627.5 million) to a partnership with Mir, a zero-knowledge cryptography business. Polygon’s Plan External validators can verify […]<\/p>\n","protected":false},"author":13,"featured_media":14995,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5496,5508,5860,5925,5643,5924,5682,5927],"class_list":["post-14992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins-2","tag-blockchain-2","tag-cryptocurrencies-2","tag-cryptography","tag-defi-2","tag-matic-2","tag-polygon-2","tag-privacy"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/image-95.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=14992"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14995"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=14992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=14992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=14992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}