Polygon launches a zk-STARK scaling solution for DApp deployment
The move is expected to improve the validation process for DApps on the Polygon network. Polygon, a layer two scaling solution for Ethereum compatible blockchains, stated in a press release provided to Cointelegraph that it has launched its zk-STARK powered Miden Virtual Machine for the development of decentralized applications, also known as DApps.
zk-STARK stands for zero-knowledge Scalable Transparent ARgument of Knowledge. In layman's terms, zero-knowledge technology allows one party to prove to another that they hold private information (such as a password) without revealing what that information is. STARK is one such method to algorithmically obfuscate, prove or verify such information. Polygon has committed over $1 billion for the development of zero-knowledge technology. One application of zk-STARK is for use in complex decentralized finance, or DeFi, such as decentralized car insurance or healthcare products, due to the need for identity verification. zk-STARK and similar schemes can redact sensitive information on digitized assets, such as driver's license or passport copies, as well as reduce their size for fast verification by blockchain participants.
It would ensure that nodes can certify the authenticity of such documents without them coming into contact with users' actual personal data — thereby diminishing privacy concerns and establishing trust for the DeFi product. But it can also be used to simplify cryptographic proofs in consensus mechanisms and improve computational performance.
Sandeep Nailwal, co-founder of Polygon, said the following in regards to the development: ZK is the way ahead 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 — enhancing the speed and scale of the Polygon ecosystem.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 60.8% | 82 | $29 191.52 | -2.06% | 2.70% | $555 914 015 832 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 64% | 82 | $1 954.39 | -4.11% | -1.82% | $236 158 317 873 |  |
|
| 3 |  USDT |
Tether predictions | 92.8% | 1 | $0.998880 | 0% | 0.42% | $74 130 049 611 |  |
|
| 4 |  USDC |
USD Coin predictions | 95.6% | 1 | $0.999973 | -0.01% | -0.03% | $52 352 625 225 |  |
|
| 5 |  BNB |
Binance Coin predictions | 63.2% | 83 | $295.49 | -1.54% | 15.82% | $48 246 384 325 |  |
|
| 6 |  XRP |
XRP predictions | 68% | 71 | $0.409560 | -4.29% | 6.64% | $19 799 416 736 |  |
|
| 7 |  BUSD |
Binance USD predictions | 93.6% | 1 | $1.001666 | 0.20% | -0.19% | $18 443 180 310 |  |
|
| 8 |  ADA |
Cardano predictions | 64% | 77 | $0.518507 | -7.30% | 14.16% | $17 500 944 869 |  |
|
| 9 |  SOL |
Solana predictions | 58.4% | 84 | $50.68 | -8.06% | 10.69% | $17 098 227 484 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 61.2% | 87 | $0.084476 | -4.75% | 5.40% | $11 207 554 336 |  |
|
| 11 |  DOT |
Polkadot predictions | 62.8% | 78 | $9.71 | -7.67% | 16.86% | $9 589 547 375 |  |
|
| 12 |  WBTC |
Wrapped Bitcoin predictions | 59.6% | 82 | $29 143.47 | -2.27% | 2.60% | $8 158 800 980 |  |
|
| 13 |  AVAX |
Avalanche predictions | 58.8% | 82 | $29.81 | -10.49% | 2.50% | $8 022 029 630 |  |
|
| 14 |  TRX |
TRON predictions | 73.6% | 55 | $0.071895 | 0.68% | -3.97% | $7 014 123 058 |  |
|
| 15 |  DAI |
Dai predictions | 95.2% | 1 | $1.000661 | 0.07% | 0.23% | $6 504 642 637 |  |
