NEAR Foundation and Polygon Labs Join Forces to Develop a Game-Changing zk Solution
Polygon’s dedicated workforce has been working relentlessly in quest of a scaling solution. Polygon Labs, the team behind Polygon Matic, is now breaking new territory by collaborating with the NEAR Foundation, the non-profit organization behind the NEAR protocol, to develop a zero-knowledge (zk) solution for the Wasm blockchain↗.
This ground-breaking zkWasm prover is set to transform the relationship between Wasm-based networks and the Ethereum ecosystem, enabling interoperability across an increasing multichain network of Polygon CDK chains.
Through this strategic partnership, the NEAR Foundation has become an integral core contributor to Polygon CDK (Chain Development Kit), further strengthening the collaboration with Polygon Labs.
When did this integration happen?
On November 8, 2023, the NEAR Foundation and Polygon Labs made a joint announcement on their primary social platform, X (formerly Twitter), to expand the L2 market through the introduction of Wasm chains to Ethereum.
The NEAR Protocol strengthens its connection with Ethereum by incorporating a zkWASM prover, enabling WASM networks to harness the vast liquidity of the Ethereum network.
This groundbreaking announcement unites two major protocol teams sharing a common goal: improving the security and interoperability of the Web3 ecosystem.
Official Statements on the Integration
Sandeep Nailwel, one of Polygon’s co-founders, expressed his thoughts on this launch, stating, “We are proud to collaborate with NEAR on this exciting research initiative to further drive the development and adoption of ZK technology.”
On the other hand, Illia Polosukhin, one of the NEAR Protocol’s co-founders, expressed his enthusiasm, stating, “We are very excited to work with Polygon Labs to bring all the benefits of zero-knowledge proofs not just to NEAR but all of Web3.”
What Significance Does This Move Hold for Polygon’s Ecosystem?
The collaboration marks a significant leap forward for the Polygon ecosystem, as the release of the zkWasm prover represents a game-changing development, promising improved scalability and decentralization.
This collaboration also builds a stronger connection between the NEAR Protocol and Ethereum, allowing Wasm chains to access Ethereum liquidity. Moreover, Polygon CDK developers will have an additional prover option for launching their Polygon CDK chains.
Looking ahead, the ongoing development of an interop layer holds the possibility of allowing multiple chains to join a uniform ecosystem of L2 Polygon CDK-deployed chains, extending over various layer-1s, EVM layer-2s, and Wasm chains.
What is the NEAR Foundation?
The NEAR Foundation, a non-profit organization established in Switzerland, is dedicated to supporting community-driven innovation on open-source Web3 projects with the primary objective of helping people worldwide.
Rather than interfering or acting directly, the foundation’s unique method involves giving assistance and resources to other nodes within the NEAR ecosystem.
Unlike many other organizations in its field, the NEAR Foundation’s ultimate goal is to diminish its own size and influence by gradually decentralizing functions and resources in order to empower the ecosystem while encouraging the establishment of decentralized infrastructure.
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Final Thoughts
In conclusion, the zkWasm prover represents a paradigm shift in Web3 technology by enabling zero-knowledge proofs for accurate Wasm runtime execution.
This advancement promotes scalability and decentralization by connecting the NEAR Protocol to Ethereum and providing Wasm chains with access to its huge liquidity.
As the Web3 ecosystem continues to evolve, partnerships like this, as well as the core principles of decentralization and community-driven innovation, will play an important role in shaping a more open, secure, and interconnected digital future.
