1/7 💫 We are proud to reveal the newest member of the Polygon family - Polygon Miden, an upcoming STARK-based, EVM-compatible Rollup!
The project is led by @bobbinth, former Facebook's lead ZK researcher who led the development of Winterfell.
A 🧵 on why this is exciting...
2/7 We recently announced our strategic focus and $1B fund for ZK-based solutions.
Following the announcements of @0xPolygonHermez (and zkEVM) and Polygon Nightfall, we are continuing our quest to become the ZK powerhouse with our work on Polygon Miden.
ZK Rollups are very promising, but currently, it's hard for them to support arbitrary logic and transactions, such as those happening on Ethereum.
Polygon Miden will solve this challenge using its core component - Miden VM.
4/7 Miden VM is the first open-source STARK-based virtual machine.
It has two great features:
1️⃣ Supports arbitrary transactions;
2️⃣ Automatically generates STARK proofs of transaction execution.
With Miden VM, it becomes feasible to build EVM-compatible Rollups! 🤗 💫
5/7 Today, we are announcing the first version of Miden VM, a prototype for early adopters.
In the coming months, the plan is to develop Miden VM into a production-grade VM with unique characteristics such as multi-language support and built-in privacy.
6/7 As mentioned above, @bobbinth, former Facebook's lead ZK researcher and creator of Winterfell, a highly-performant STARK prover, is leading the development of Polygon Miden.
The core STARK components will be devolved in collaboration with @aszepieniec and other
contributors.
Polygon will continue work on Polygon Miden and our other ZK-based efforts, as well as actively invest in this field, with the ultimate goal of becoming the industry's leading ZK powerhouse. 💫🦄
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We have started collaboration with EY, a global professional services and technology firm, on building Ethereum scaling and enterprise solutions!
As part of this collaboration, we will work on Polygon Nightfall, a privacy-focused Rollup!
2/9 EY announced Nightfall in 2019 as a set of protocols for enabling private transactions on Ethereum.
Although it is a great contribution that quickly gained a lot of attention, Nightfall's wider adoption was hindered by congestion and high gas fees on the Ethereum mainnet.
3/9 The EY team started exploring Ethereum scaling solutions to mitigate these challenges and eventually released Nightfall 3 - the latest, scalable version of Nightfall.
Along the way, the EY team started collaborating with Polygon, and the idea Polygon Nightfall was conceived.
We are announcing a strategic focus on ZK-based scaling solutions and $1B in funding for this effort.
As our first big foray into the exciting world of ZK, we are excited to announce the merger/acquisition of @hermez_network! 🔥
Thread.. 🧵
2/14 Six months ago, when we announced Polygon, there was a pressing need to scale Ethereum and our PoS chain turned out to be the best immediate solution/relief.
Now both Polygon and Ethereum are in a better place, so we believe it is the right time to focus more on innovation.
3/14 We have been actively experimenting with all major scaling technologies since 2017.
Based on what we have learned, we believe that ZK crypto is our best bet to build the solutions we all want and deserve.
1/ We are extremely excited to announce Avail - an important component of a completely new way on how future blockchains will work. #Avail is a general-purpose, scalable data availability-focused blockchain targeted for standalone chains, sidechains & off-chain scaling solutions.
2/ #Avail provides a robust data availability layer by using an extremely secure mathematical primitive - DA checks using erasure codes. We use KZG polynomial commitments to create a 2D DA scheme.
Simply put, Rollups provide an easy way to bypass the problem of all Ethereum nodes having to execute txns present in a block, to verify the validity of included transactions.
3/12 ZK Rollups do this by executing txns off-chain and submitting proofs called validity proofs back to Ethereum.
Optimistic Rollups solve this by executing txns off-chain and submitting assertions on Ethereum, with an added challenge period. These are secured by fraud proofs.