Polygon‘s Head of Enterprise, Antoni Martin, gave the keynote speech on the 2022 EY International Blockchain Summit and launched Polygon Dusk, the corporate’s new zero-knowledge proof (ZKP) resolution that provides privateness for corporations that wish to use Ethereum blockchain.
Based on Martin’s speech, Polygon Dusk produces eight occasions sooner outcomes than Ethereum base layers, transfers non-private ERC20s for six occasions cheaper, and is absolutely public.
Dusk is one in all Polygon’s 4 scalability options. The opposite three, Polygon Hermez, Polygon Miden, and Polygon Zero have completely different strengths. Polygon Dusk differentiates itself because the one resolution with enhanced privateness.
Combining zero data with optimistic rollups
The Polygon Dusk combines privacy-preserving ZKPs and optimistic rollups. It makes use of optimistic rollups to cut back transaction charges and makes use of ZKPs to offer privateness.
The privacy-preserving rollups solely disclose the time and date of the transaction whereas maintaining the remaining personal. Optimistic rollups, however, assume all transactions are legitimate however nonetheless permit validators to oppose one transaction in the event that they assume it’s inaccurate.
Throughout his presentation, Martin stated that Dusk may very well be utilized in enterprise operations corresponding to provide chain administration, transactions of personal NFT markets, and blockchain mixers.
EY and Polygon
Ernst & Younger (EY) began engaged on Dusk in 2019 to allow its prospects to make use of Ethereum privately. Nevertheless, the challenge halted when the corporate needed to fight Ethereum’s excessive gasoline charges in September 2021. To chop the prices of personal transactions, EY partnered with Polygon.
EY’s two blockchain providers, EY OpsChain and EY Blockchain Analyser are already linked to Polygon Dusk.
Polygon’s Co-Founder Sandeep Nailwal commented on this partnership and stated:
“The EY dedication to the general public Ethereum ecosystem and to open requirements was an enormous driver in evolving shared approaches. No different group has made the identical scale of dedication to the ecosystem and to open methods, or brings the depth of know-how that the EY group has on this area.”
Based on the announcement, the duo will proceed to innovate on enterprise-friendly options that prioritize privateness to develop their ecosystem.
Are ZKPs the following huge factor?
A report from Mina Basis revealed that ZKPs have lately performed a big function within the crypto sphere.
Based on the survey, improved privateness and scalability are the 2 fundamental issues that make ZKPs enticing. Almost all members (90.1%) stated they discovered cryptocurrencies with an applied ZKP resolution extra enticing. As well as, 52.1% additionally stated they’d be extra doubtless to make use of a dApp with imğlemented ZKPs.