Polygon prepares to make a huge announcement on the upcoming ZK summit event scheduled for December 9 where it will discuss zero-knowledge technology to examine its use in advancing the crypto sector so let’s read more in our latest cryptocurrency news today.
According to Polygon:
“Join the leading lights of the Zero-Knowledge space for a discussion about the future of zk-STARKs and applications of ZK proofs.”
4/4 And one more thing…
🤫 #Polygon will be making a major announcement during the summit.
➡️ Save Your Spot Now: https://t.co/eQxFL6rnJp
— Polygon | $MATIC – We’re hiring! (@0xPolygon) December 2, 2021
Concluding the tweet thread, Polygon prepares to make a huge announcement during the summit which built speculation over what the announcement could be about. Zero-knowledge refers to a verification method where one party can prove to another party that a statemetn is true without revealing information about the 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 like ZK-Snarks, where the prover and verifier don’t interact, the bedrock for privacy and security is set in place. Combined with rollups where transactions are batched together and submitted to the mainchain in one single transaction, it can improve scalability by cutting the number of transactions that are to be processed. All in one, considering Ethereum’s scaling issues and the knock-on effect for the network with the capacity on gas fees, Polygon research, and development in the area are long overdue. The schedule for the Polygon ZK summit is as follows:
16:00 is an introduction by Polygon co-founders Anti Kanani, Sandeep Naiwal and Mihailo Bjelic. 20 minutes after that will be the major announcement. At 17:00 o’clock Polygon Nightfall will be discussed as a privacy rollup solution, next up is Polygon Miden’s discission, at 18:00 another rollup solution is explained but this time running on the Hermes network. Finally starting at 19:00 o’clock, there will be a panel discussion. The event promised live demonstrations of the tech in action but the most enticing item in the schedule was the reveal. Aside from the obvious about the zk technology, speculation is quite rife on how this relates to Polygon. Since mid-November, MATIC token traded upwards and posted 16% on Wednesday on the news of 21Shares listing the token on the Exchange-traded Product on Euronext Paris and Euronext Amsterdam in USD.
21Shares is the world’s biggest issuer of crypto ETPs while EuroNext is a pan-European stock exchange that operates from various capitals in Europe like Brussels, Dublin, Amsterdam, Milan, and Paris.
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