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

Ethereum layer-2 scaling platform Polygon is hosting the zk Summit next Thursday. The firm bills the event as a space to discuss zero-knowledge technology to examine its use in advancing the cryptocurrency sector.

“Join the leading lights of the Zero-Knowledge space for a discussion about the future of zk-STARKs and applications of ZK proofs.”

Concluding the tweet thread, Polygon teased a major announcement to be revealed during the Summit – building speculation over what this could be.

4/4 And one more thing… 😉 #Polygon will be making a major announcement during the summit. ➡️ Save Your Spot Now: to witness the exciting announcement! — Polygon | $MATIC – We're hiring! (@0xPolygon) December 1, 2021 What is zero-knowledge?

Zero-knowledge refers to a verification method in which one party (the prover) can prove to another (the verifier) that a statement is true without revealing information about said statement.

“In a zero-knowledge proof system, the prover is able to prove to the verifier that they have the knowledge of a particular piece of information (such as the solution to a mathematical equation) without revealing the information itself.”

When combined with other technologies, such as zk-SNARKs, in which the prover and verifier do not interact, the bedrock for enhanced privacy and security is in place.

Similarly, combined with rollups, in which transactions are batched together and submitted to the mainchain via a single transaction, can improve scalability by cutting the number of transactions needed to be processed.

All in all, considering Ethereum’s scaling problems and the subsequent knock-on effect of a network at capacity on gas fees, Polygon’s research and development in this area are long overdue.

Polygon hosts the zk Summit

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

16:00 GMT – Introduction featuring the Polygon co-founders Sandeep N...
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