- Polygon launches Plonky2 iterative test to increase scalability on Ethereum network.
- L2 scaling solution also announced the launch of Hermez zk-rollup in Q2 2022.
Polygon (MATIC) has released SNARK (Concise Non-Interactive Knowledge Argument) called Plonky2. This development is in line with its mission of bringing scalability to Ethereum through support from ZK Rollups.
Plonky2 supports Ethereum Virtual Machine (EVM), and combines PLONK and FRI to make the most of STARKS (Scalable Knowledge Transparent Argument). In addition, it claims to be 100 times faster than existing options with recycling support. For example, on fast computers like the Macbook Pro, Plonky2 solves its iterative test in just 170 milliseconds. Users can speed up test times if they are no longer needed.
The technology does not have a reliable configuration, as the Polygon team points out, and can be further decentralized. Also, by spending less resources, verification costs on Ethereum are reduced.
Polygon launches Plonky2 scaling technology
Layer 2 (L2) scaling solutions that use ZK technology have achieved a lot of hype. However, because they are primarily based on cryptographic primitives, they are ineffective and have scalability limits. This increased competition between L2s for optimal performance and network costs.
Plonky2 is now what Polygon calls «all-space ones.» It puts the network ahead of its competitors by allowing better L2 development. Highlights of the Polygon blog:
Until 2014, recurrence was only theoretical. In 2019, it took 120 seconds to generate recursive tests. In 2020, it took 60s to generate recurring tests on Ethereum. Now, with Polygon Zero, it only takes 0.17 seconds to generate recursive tests on Ethereum,
Hermes to go live on the mainnet
Sanket Shah, Polygon’s chief strategy officer, recently made another big announcement for the network. In August, Polygon merged with the platform to roll up Hermez Network in a $ 250 million market. Now, the Polygon network plans to launch Hermez on the mainnet in the second quarter of 2022.
ZkEVM is being developed by Polygon Hermez and plans to launch the mainnet in Q2 2022 https://t.co/5cP2UErs1e pic.twitter.com/awKf5Hmg4q
– Ffynhonnellx.nft 💜 (@ sourcex44) January 9, 2022
In particular, the initial version of the solution will only support the transfer of values without EVM support. Full compatibility will come with V2 release.
Gas rates at Polygon increased in October, according to co – founder Sandeep Nailwal. The idea was to beat the price of users who made spam transactions on the platform. However, this affected users who had real transactions. In addition, transaction fees increased due to increased activity in the playing ecosystem with the earnings of Polygon-based Sunflower Farmers. Hermez’s launch is expected to bring some assistance from commissions.
Last year, Polygon reached spectacular milestones, a pace that has begun again at 10 days of the new year. CNF recently covered why these developments could pave the way for MATIC $ 10 by the end of the year. At the time of writing, MATIC was trading at $ 2.16, up 0.9% on the day.