- Polygon Labs has undergone a key structural change to improve its focus on building zero-knowledge (ZK) technology solutions.
- The company announced that it had expanded the co-founder and executive chairman Sandeep Nailwal’s role to chief business officer (CBO).
- “He continues to work hard to accelerate adoption of the Agglayer as well as Polygon’s innovative zk solutions in verticals including DeFi, gaming, dePIN, AI and NFTs,” wrote Polygon Labs to Twitter.
Polygon Labs restructures to enhance its focus on zero-knowledge technology solutions, appointing Sandeep Nailwal as Chief Business Officer to drive innovation in DeFi, gaming, AI, and more.
Polygon Doubles Down On ZK Proofs
In a follow-up statement, Nailwal told followers that he’d spent the past 18 months working on “strategic things” related to transforming Polygon into a fully-fledged ZK protocol. “With most of those transitions complete, it’s time for me to refocus on what I do the best,” he tweeted. “Hence I am taking over as CBO. One more round! Let’s do this.”
Nailwal’s Efforts At Polygon
Nailwal plans to focus his efforts on Polygon CDK, a software development kit for anyone looking to build alternative Ethereum L2s. He will help build tools related to ZK proofs, which let one part prove awareness of a specific value to others without revealing the value itself. His role as executive chairman will also continue – as will his efforts in building Agglayer, defined as “a decentralized network that connects chains for shared state and liquidity.”
Ethereum’s base layer underwent the Dencun upgrade in March, allowing rollup chains like Polygon zkEVM, Arbitrum, and Optimism to lower transaction fees by 90%. In early May, Polygon launched the alpha version testnet for Polygon Miden, its latest ZK rollup solution, allowing client-side proving and increased privacy. Polygon’s governance token MATIC is currently the 18th largest cryptocurrency by market cap. Its value has fallen substantially since mid-March, from $1.27 to $0.72 today.
Conclusion
Polygon Labs’ recent restructuring and Nailwal’s new role as CBO signal a strong commitment to advancing ZK technology. With the launch of new ZK solutions and a focus on reducing transaction fees, Polygon aims to solidify its position as a leading Ethereum layer-2 solution. Investors and developers alike should keep an eye on these developments as they promise significant advancements in the blockchain space.
