Polygon Labs Pushes Blockchain Technology Forward
Polygon Labs released a “Type 1 prover,” which marks a technological feat that even Ethereum’s Vitalik Buterin has touted as key to making auxiliary layer-2 networks nearly equivalent to the base blockchain. Polygon’s Type 1 prover forms part of the project’s 2.0 roadmap, which focuses on making its ecosystem more interconnected. With the introduction of this mechanism on Feb. 8, any network compatible with Ethereum’s EVM standard can become a layer-2 network powered by zero-knowledge proofs. It also gives these networks access to Polygon’s broader ecosystem.
Polygon’s Impact on Blockchain Transaction Costs
Ethereum co-founder Vitalik Buterin previously wrote about the different types of provers. With regards to a Type 1 prover, the Ethereum co-founder said that it has the benefit of being perfectly compatible with Ethereum. But a major disadvantage is that a lot of computational power is required to produce ZK-proofs that are compatible with the Ethereum network. He also noted that this process can take up to hours. The average cost for a transaction through the Type 1 prover will be between $0.002-$0.003, according to the post. Polygon’s team believes that there will be a 30 to 50X reduction in transaction costs in the next year. The Type 1 prover will be another configuration available to projects building with the Polygon Development Kit (CDK), which is the modular toolkit for spinning up ZK Layer-2 networks.
Closing Thoughts
Polygon’s release of the Type 1 prover is a major step forward in blockchain technology. By enhancing the compatibility and reducing the transaction costs for Ethereum’s auxiliary layer-2 networks, the broader blockchain ecosystem stands to benefit significantly. This development by Polygon is certainly a game-changer that could shape the future of blockchain technology and its various applications.
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