Polygon introduces a zk-STARK scaling solution for DApp deployment

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Polygon, a Layer 2 scaling solution for Ethereum-compatible blockchains, announced in a press release to Cointelegraph that it has launched its zk-STARK-powered Miden Virtual Machine for developing decentralized applications, also known as DApps.

zk-STARK stands for Zero-Knowledge Scalable Transparent ARgument of Knowledge. In layman’s terms, zero-knowledge technology enables one party to prove to another that it has private information (such as a password) without revealing that information. STARK is one such method to algorithmically obscure, prove, or verify such information. Polygon has allocated over $ 1 billion to develop zero-knowledge technology.

One application of zk-STARK is its use in complex decentralized finances or DeFi, such as decentralized car insurance or health products, since an identity check is required. zk-STARK and similar systems can blacken sensitive information on digitized assets such as driver’s license or passport copies and reduce their size for quick review by blockchain participants.

It would ensure that nodes can certify the authenticity of such documents without them coming into contact with the actual personal information of the users – thereby reducing privacy concerns and establishing trust in the DeFi product. But it can also be used to simplify cryptographic evidence in consensus mechanisms and to improve computing performance.

Sandeep Nailwal, co-founder of Polygon, said the following about the development:

ZK is the way forward for Ethereum and Miden VM is one of the most important elements in Polygon’s roadmap for Ethereum scalability. It will simplify and accelerate validation for DeFi apps and cryptocurrencies, and improve the speed and size of the polygon ecosystem.