Astar Network receives Web3 Open Grant to implement ZK Plonk on Polkadot

Astar Network have been working on Zero-Knowledge (ZK) projects and scalability solutions for a long time and now they are excited to announce that Stake Technologies, the core company behind Astar Network received a Web3 Open Grant to implement a Zk Plonk pallet.

You can find “Stake Technologies”, the core company behind Astar Network in this article.

What is ZK Plonk?

The ZK Plonk is originally created by Aztec. The ZK proofs are a type of proof where a prover can prove a statement without disclosing any information. There are some famous ZK systems like zk-SNARKs, zk-STARKs. In terms of ZK proofs, there are two different main procedures, sender’s proof generation, and prover’s proof verification.

The ZK plonk is called “Universal zkSNARK” because of the following two reasons. First, the verification times are constant and the original reference string can be used to build proofs with any type of Circuit. This means that the reference string is universal, and Astar Network do not need to re-create a trusted setup for every circuit created. These features bring significant benefits to both users and developers.

For example, the verification times are the same so users don’t have to wait so long even though they try to prove a complicated proof, and the original reference string can be reused many times so that developers don’t have to set up a trusted environment for each Circuit. The plonk will be a core technology in terms of scaling and privacy solutions.

What They Do

Through this grant, Astar Network are going to make a plonk Substrate pallet in order for Polkadot developers to implement the ZK Plonk on Substrate easily. ZK is the key privacy and scaling solution in the long run. Astar Network is the dApp hub on Polkadot supporting Ethereum Virtual Machine, WebAssembly, and Layer2 solutions. Currently, layer2 is one of the features for them that won’t be needed in the very short run. However, Astar Network believe it is very important to implement the latest layer2 solution on Astar Network since they are making an open, transparent, and decentralized public blockchain for billions of people.

About Astar

Astar Network is a dApp hub on Polkadot that supports Ethereum and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines like EVM and WASM.

📰 INFO

https://medium.com/astar-network/astar-receives-a-web3-grant-to-implement-zk-plonk-on-polkadot-c9d31aed197b

Market Stats:
BTC Dominance: 57.36%(-0.33%/24h)
ETH Dominance: 12.34%(-0.08%/24h)
Defi Market Cap: $116.35B(+4.12%/24h)
Total Market Cap: $3348.98B(-0.80%/24h)
Total Trading Volume 24h: $336.26B(+10.83%/24h)
ETH Market Cap: $413.65B
Defi to ETH Ratio: 28.13%
Defi Dominance: 3.32%
Altcoin Market Cap: $1427.9B
Altcoin Volume 24h: $219.68B
Total Cryptocurrencies: 32936
Active Cryptocurrencies: 10445
Active Market Pairs: 95018
Active Exchanges: 772
Total Exchanges: 9777
BTC: 97047.08$(0.01%/1H)
ETH: 3433.88$(0.1%/1H)
AVAX: 38.69$(0.1%/1H)
BNB: 670.02$(-0.28%/1H)
MATIC: 0.48$(0.57%/1H)
FTM: 0.96$(-0.83%/1H)
ADA: 0.89$(0.56%/1H)
DOT: 7.07$(-0.18%/1H)
UNI: 12.87$(0.11%/1H)
CAKE: 2.45$(-0.44%/1H)
SUSHI: 1.48$(-1%/1H)
ONE: 0.03$(-2.04%/1H)