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Polygon Executive Pivots Roles To Developing ZK Proof Tech

Polygon Labs recently implemented a significant organizational shift aimed at enhancing its dedication to developing zero-knowledge (ZK) technology solutions. In an announcement on Tuesday, the software firm revealed the expansion of Sandeep Nailwal’s responsibilities from co-founder and executive chairman to chief business officer (CBO).

In a tweet, Polygon Labs emphasized Nailwal’s ongoing efforts to drive the adoption of Agglayer and Polygon’s pioneering ZK solutions across various sectors such as DeFi, gaming, dePIN, AI, and NFTs.

Polygon Doubles Down On ZK Proofs

In a subsequent statement, Nailwal shared with his followers that he had dedicated the past 18 months to strategic initiatives aimed at evolving Polygon into a comprehensive ZK protocol.

“After completing most of these transitions, it’s time for me to return to my strengths,” he tweeted. “That’s why I’m assuming the role of CBO. One more round! Let’s make it happen.”

Polygon operates as a multichain Ethereum layer-2 (L2) solution, aimed at expediting and enhancing the privacy of Ethereum-based transactions. Among its chains is Polygon zkEVM – a “rollup” mechanism that consolidates transactions before settling them on Ethereum’s base layer in a decentralized fashion.

Nailwal’s Efforts At Polygon

Nailwal’s focus is now set on Polygon CDK, a software development kit tailored for those interested in constructing alternative Ethereum L2s. His efforts will be directed towards crafting tools associated with ZK proofs, enabling parties to validate awareness of a specific value without divulging the value itself.

Simultaneously, Nailwal will uphold his role as executive chairman, continuing his endeavors in nurturing Agglayer, described as a decentralized network fostering connectivity between chains for shared state and liquidity.

The Ethereum base layer underwent the Dencun upgrade in March, facilitating a notable reduction of transaction fees by 90% for rollup chains like Polygon zkEVM, Arbitrum, and Optimism.

In early May, Polygon unveiled the alpha version testnet for Polygon Miden, its latest ZK rollup solution, featuring client-side proving and heightened privacy measures.

Polygon’s governance token, MATIC, currently ranks as the 18th largest cryptocurrency by market capitalization. Its value has experienced a considerable decline since mid-March, plummeting from $1.27 to $0.72 as of today.

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