Solana has put in a decent run, but momentum is slowing. Are Ethereum’s L2s poised to run? Polygon has posted a 26% gain over the past week and just announced a partnership with alt-L1 NEAR!
This is an unprecedented move!
— Sandeep Nailwal | sandeep. polygon 💜 (@sandeepnailwal) November 8, 2023
What is it?@0xpolygonlabs and @NEARfoundation are going to build a zkWASM Prover which will allow any WASM chain to prove on Ethereum and have Ethereum Layer2 security
Why is this important?
1. Near Mainnet will be fully proven to Ethereum using… https://t.co/TRLkM5bx8r
The NEAR Foundation is set to become a core contributor to the Chain Development Kit (CDK), Polygon’s zero-knowledge (ZK) rollup stack, with the goal of developing a ZK prover that is compatible with WebAssembly (WASM) blockchains. This will allow developers to write smart contracts on CDK chains in popular coding languages like C++ and Rust.
According to Polygon founder Sandeep Nailwal, such an upgrade would allow NEAR mainnet to prove its state and execution to Ethereum, creating a trustless ZK bridge between NEAR and Ethereum that allows liquidity to flow unimpeded between the two chains.
While Solana’s ascension has been fueled by memes of a single global state and consensus at the speed of light, announcements like the Polygon x NEAR partnership and reported talks between Polygon and Kraken on an L2 for the exchange demonstrate that Ethereum still possesses the network effects and users that alt-L1s are desperate to tap into!