Polygon Labs (MATIC) and the NEAR Foundation have not too long ago introduced their collaboration on the event of a zero-knowledge (ZK) prover for the WebAssembly (Wasm) blockchain.
The alliance goals to “bridge the gap” between Wasm-based chains and the Ethereum ecosystem, offering customization and choices for builders constructing with the Polygon CDK (Chain Development Kit).
NEAR Foundation Joins Polygon As Core Contributor
According to Polygon Labs’ announcement, introducing a zkWasm prover will allow builders using Polygon CDK to select from varied provers when constructing their tasks.
This will be leveraged in varied situations, together with launching or migrating an Ethereum Virtual Machine (EVM) chain or developing a Wasm chain for nearer alignment with Ethereum and entry to liquidity.
The zkWasm prover will function a brand new runtime, producing zero-knowledge proofs that validate the correctness of native Wasm runtime execution. This development is predicted to reinforce scalability and decentralization, bringing the NEAR protocol nearer to Ethereum.
As a part of this partnership, the NEAR Foundation is about to develop into a core contributor to Polygon CDK, increasing the toolkit’s capabilities for builders.
Sandeep Nailwal, the co-founder of Polygon, expressed pleasure in collaborating with NEAR on this analysis and emphasised the worth of the zkWasm prover in offering builders with elevated customization choices.
To present additional context, WebAssembly is a broadly used framework for working advanced packages in internet browsers, providing efficiency corresponding to native laptop functions. In the context of Web3, the Wasm Virtual Machine serves as a runtime for blockchains like NEAR and Polkadot, differing from the Ethereum Virtual Machine.
Scalability And Decentralization Boost?
Per the announcement, sooner or later, an in-development interop layer will permit chains to affix a unified ecosystem of Layer 2 options deployed by Polygon CDK.
This ecosystem will embody various layer-1 chains, EVM layer-2 options, and Wasm chains, offering interoperability and defragmentation of liquidity throughout totally different chains.
Illia Polosukhin, co-founder of NEAR Protocol, expressed optimism in regards to the collaboration, emphasizing that it’s going to carry the advantages of zero-knowledge proofs not solely to NEAR however to your entire Web3 ecosystem. Polosukhin acknowledged:
We are very excited to work with Polygon Labs to carry all the advantages of zero-knowledge proofs not simply to NEAR however all of Web3. NEAR is integrating extra with Ethereum by innovating in new analysis frontiers, and the shared experience of those two groups will carry a much-needed enlargement of the ZK panorama and defragmentation of liquidity throughout chains. And by creating and utilizing the zkWasm prover, NEAR will even enhance the scalability and decentralization of the NEAR L1.
Overall, the collaboration between Polygon Labs and the NEAR Foundation holds vital implications for each protocols. Integrating the zkWasm prover will improve the capabilities of Polygon CDK, offering builders with extra choices in constructing “custom blockchains.”
Additionally, it can carry NEAR Protocol nearer to Ethereum, increasing its interoperability and liquidity alternatives.
As of the most recent replace, MATIC, the native token of Polygon, is on the verge of reaching the $0.800 degree, a milestone that has not been attained since July. The token at present trades at $0.7903, showcasing a noteworthy upward trajectory.
This optimistic motion is additional bolstered by a formidable 11% uptrend recorded over the previous 24 hours.
Featured picture from Shutterstock, chart from TradingView.com
