Telos Foundation Collaborates with Ponos Technology for Innovative Ethereum Layer 2 Network
Dubai, United Arab Emirates, April 19th, 2024, Chainwire – The Telos Foundation has announced a strategic partnership with Ponos Technology, a prominent firm specializing in Zero Knowledge Proof (ZKP) research and development. This collaboration aims to create an end-to-end optimized, hardware-accelerated Layer 2 network for Ethereum, incorporating SNARKtor, a decentralized recursive proof aggregator developed by Telos. This joint effort will utilize a hardware-software co-design strategy, paving the way for enhanced scalability, improved data security, and seamless interoperability for Ethereum users around the world.
Advancements in Zero Knowledge Proving Technology
Ponos Technology is recognized for its comprehensive solutions in ZK proving, achieved through the use of FPGA acceleration. This approach enhances business value by optimizing computational performance through the alignment of hardware-software modules and tailored execution environments. The team consists of a diverse group of scientists and industry specialists who possess extensive technical expertise in various aspects of ZKPs.
Industry Impact and Future Prospects
“Zero Knowledge technology is poised to gain mainstream acceptance, unlocking greater efficiency and security across numerous sectors,” commented Slobodan Lukovic, CEO and co-founder of Ponos Technology. “Much like the advancements in AI, continuous improvements in algorithms and the evolution of hardware infrastructure will facilitate the widespread adoption of ZKPs in the near future.”
Collaboration with Key Partners
During the development phase, Telos will collaborate with several notable partners, including:
– Digital M.O.B., a leading Ethereum development team known for contributions to projects like MetaMask, MakerDAO, and Gnosis.
– ATKA, a Web3 incubator based in Paris, recognized for its support of successful projects such as Morpho and Mangrove, with whom Telos formed a strategic alliance in March 2024.
– Cometh, an award-winning development team led by Jerome de Tychey, President of ETH France, who has also joined Telos as a technical EVM advisor as of March 2024.
Telos Executive Director John Lilic, who has a rich background in pioneering initiatives at Consensys and Polygon and is a prominent Web3 angel investor, will oversee this transformative project. He will collaborate closely with Alberto Garoffolo, the Head of ZK technology at Telos and co-author of the SNARKtor whitepaper, along with Jesse Schulman, CTO and Head of Engineering at Telos.
Hardware-Software Co-Design for Enhanced Performance
“To achieve exceptional zkEVM performance at scale, Ethereum must adopt a hardware-software co-design framework,” stated Lilic. “This is the strategy we are pursuing with Ponos Technology and our expanding network of partners as we develop a hardware-accelerated zkEVM Layer 2. We are confident that this approach, combined with the innovative work on recursive proofs via SNARKtor, will deliver valuable services to the Ethereum community and beyond.”
Telos Foundation’s Commitment to Development
Established in 2018 through an equitable network launch without an ICO or token sale, the Telos Foundation has played a crucial role in the growth of two main networks – Telos EVM and Telos Zero. The foundation is now also dedicated to creating a highly efficient and succinctly provable Layer 2 zkEVM.
Upcoming Announcements and EthCC Participation
Further details regarding the Telos Layer 2 network will be disclosed leading up to EthCC in July, where Telos will serve as a primary sponsor. The Telos team plans to showcase the first live demonstration of SNARKtor during the event in Brussels, serving as a precursor to the official launch of the Telos Layer 2 network.
About Telos
Telos is a decentralized blockchain ecosystem that features Telos EVM, recognized as the fastest Ethereum Virtual Machine globally, alongside its rapid consensus layer, Telos Zero. The project is committed to enhancing its capabilities through the innovative Zero Knowledge technology, culminating in a hardware-accelerated Ethereum Layer 2 network powered by SNARKtor, which aims to improve privacy and scalability for various global applications. The Telos Foundation oversees this initiative, dedicated to advancing the Telos blockchain network and its community.
Contact Information
The Telos Foundation
Email: [email protected]
