Web2 vs. Web3
Nailwal drew parallels between Web2 and Web3, noting that both are similar in form and function. Web2 serves as the “internet of information” with practically unlimited scalability and the ability to transfer information seamlessly across the globe at high speeds.
Web3, on the other hand, represents the “internet of value,” which requires two critical capabilities:
- Infinite, unlimited, unbounded scalability
- Unified liquidity for value transfer
Nailwal emphasized the need for an aggregator or interoperability layer to combine ZK-proofs from different chains into a common layer to achieve Web2-like characteristics in Web3.
Recursive ZK-proof technology is the key to this aggregator layer, set to be deployed in the coming months. It will enable various blockchains to submit ZK-proofs of their network state to the aggregator, which will then submit a proof of these combined attestations to the Ethereum network.
Nailwal’s vision is to reduce the proof submission time to two seconds, allowing cross-chain transactions to be executed in four to five seconds, a third of an Ethereum block time, creating a seamless and efficient experience.
Polygon’s high liquidity chains, such as zkEVM and proof-of-stake chains, will facilitate the sharing of value with applications. Larger layer-1 blockchain platforms have also expressed interest in joining this interoperable layer, creating a mutually beneficial ecosystem.
Polygon’s Recent Milestones
Polygon zkEVM’s beta was launched on the mainnet in March 2023, providing developers with the ability to deploy smart contracts and decentralized applications with faster throughput and lower costs compared to Ethereum’s layer 1.
The company has also introduced its Chain Development Kit, empowering developers to build, customize, and deploy layer-2 chains connected to the broader Ethereum ecosystem.