Plonky2 is Polygon’s scalability solution on ZKPs. While Zero-Knowledge Proofs will be a standard after the Bitcoin standard, Polygon wants to become ZKPs era Ethereum.
ZKPs is one of the most secure solutions on cryptocurrency’s technology. Plonky2 can achieve the security goal while scaling up to help Polygon expand more users.
Here is a 1 min summary of the article if you want to skip the reading.
Recently Hacking Incident
Polygon just lost $1.6M due to a bug that hacks exploited and they deployed the patch immediately. Such critical updates can prevent further losses. However, it is also critical to invent a new way in blockchain to prevent hacking incidents.
What Is Plonky2
Plonky2 is one of the solutions to prevent hacking. It is a recursive SNARK. SNARK is a Zero-Knowledge Succinct Non-Interactive Argument of Knowledge that processes certain information without revealing that information. I wrote an article to explain the details here and here.
How Plonky2 Secure The Network
Recursion is a key to providing additional security to the network. In contrast to Proof of Work, recursion is working parallel and one for each transaction while a single proof can verify all proofs.
How Plonky2 Increases Efficiency
The hardwire technology helps to scale up arithmetic on modern CPUs. With custom gates and with many more wires, designers can write circuits optimized for efficient recursion.
By eliminating the tradeoff, Polyky2 can improve its optimization through limited proof sizes. To achieve such proof sizes, a single proof that can be verified in a small circuit is a way to approach it.
Plonky2 will mainly run on Ethereum as Polygon is a layer 2 solution for Ethereum. The goal is to help Ethereum to improve its security while scaling up with speed and reducing the gas fee.
It seems Polygon has found a way to break the trilemma Ethereum has faced. We will see how such technology can drive the future.
This article is also published in Cryptologist as parnership publication.
Photo by Marc Sendra Martorell on Unsplash
Note: the post was shared on multiple platforms here.
You can refer my previous article lists here
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2022 Prediction #1: L1 Scalability
2022 Prediction #2: L2 Bridges
2022 Prediction #3: Zero-Knowledge Proofs or ZKPs
2022 Prediction #4: Regulated Defi On-Chain KYC
2022 Prediction #5: Institutional Crypto Adoption
2022 Prediction #6: Defi Insurance
2022 Prediction #7: NFTs-Based Communities - DAO 1.5
2022 Prediction #8: Metaverse and NFTs
2022 Prediction #9: Web2 Companies’ FOMO
2022 Prediction #10: Time for DAO 2.0
Craig vs People
Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.