Saturday, 25 May 2024

Crypto News

Live from TOKEN2049: Telos announces Ethereum Layer 2 partnership with Ponos Technology

Valkyrie co-founder says spot Ethereum ETF approval unlikely in May

  • Telos has revealed the details of a new partnership with Ponos Technology to develop a hardware-accelerated Ethereum L2 zkEVM network
  • Plans for the new network were officially unveiled live today at TOKEN2049 in Dubai, where Telos is a title sponsor
  • TOKEN2049 is one of the world’s top crypto events, bringing together 10,000 attendees from more than 4,000 companies and 100 countries to explore the future of crypto

The Telos Foundation has revealed the details of a new partnership with Ponos Technology, the leading Zero Knowledge Proof (ZKP) research and development firm, which will see the two companies work together develop an end-to-end optimized, hardware-accelerated Ethereum Layer 2 network featuring SNARKtor, the Telos-developed decentralized recursive proof aggregator.

The new partnership was announced today at TOKEN2049 in Dubai, one of the world’s premier crypto conferences.

Teams from Telos and Ponos Technology will take a hardware-software co-design approach that will help unlock new possibilities in terms of massive scalability, greater data protection and trustless interoperability for Ethereum users globally.

Ponos Technology provides end-to-end optimized solutions for ZK proving, which is essentially achieved by leveraging FPGA acceleration, thus maximizing business value streams through cost-performance optimized computation by matching hardware-software co-designed modules and dedicated execution environments. The team includes a unique blend of experienced scientists and highly skilled industry experts that have accumulated deep technical knowledge on all aspects of ZKPs.

Slobodan Lukovic, CEO and co-founder, Ponos Technology, said:

“Zero Knowledge technology is going to become increasingly mainstream and can open the door to increased efficiency and security across so many industries.

“Similarly to AI, steady enhancements in algorithms coupled with advancements in underlying hardware infrastructures will enable commoditization of ZKPs and result in the technology being widely adopted in the near future.”

Telos will also be working with several other new partners during the development cycle, including:

  • Digital M.O.B. – One of the strongest Ethereum developer teams in the world, having worked on projects including MetaMask, MakerDAO and Gnosis, among others. 
  • ATKA – A Paris-based end-to-end web3…

Click Here to Read the Full Original Article at CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison…