PolygonLabs has successfully deployed the POL token contracts on Ethereum mainnet

The #POL tokens is a next-generation hyperproductive token, that will power a vast ecosystem of zero knowledge-based Layer 2 chains via a native re-staking protocol. The transition to mainnet comes 20 days after the first deployment of POL token contracts to Ethereum testnet.

Zero-knowledge proof (ZKP) is a cryptographic protocol used in blockchain technology to enable the verification of the truthfulness of a statement without revealing any additional information. In the context of blockchain, ZKP is utilized to prove ownership or knowledge of certain data without revealing the data itself. It allows one party, called the prover, to demonstrate to another party, called the verifier, that a particular statement is true without revealing any other information or data related to the statement.

ZKPs provide confidentiality and privacy guarantees by ensuring that sensitive information remains concealed. This is particularly useful in blockchain applications, where privacy and data security are of paramount importance. By using ZKPs, blockchain networks can validate transactions and execute smart contracts without publicly disclosing sensitive information.

ZKPs work based on mathematical algorithms, such as elliptic curve cryptography, with the goal of proving that a statement is true while revealing essentially nothing else. The process typically involves a series of interactions between the prover and verifier, in which the prover convinces the verifier of the truthfulness of the statement while keeping the information hidden. ZKPs are resource-efficient, offering a high level of security without requiring excessive computational power.

Beyond blockchain, zero-knowledge proofs have applications in various fields, including cryptography, authentication systems, and privacy-preserving technologies. With ongoing advancements in ZKP research, this cryptographic technique holds promise for enhancing privacy and security across many domains.