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Telos Foundation partners with Ponos Technology to develop advanced Ethereum Layer 2 network

2024-04-19 05:00:28 ET

The Telos Foundation, known for its influential contributions to blockchain technology, announced today at TOKEN2049 in Dubai its strategic partnership with Ponos Technology, a leading firm specializing in Zero Knowledge Proof (ZKP) research and development.

This collaboration is set to pioneer the development of an end-to-end optimized, hardware-accelerated Ethereum Layer 2 (L2) network, leveraging Teloss proprietary technology, SNARKtor , a decentralized recursive proof aggregator.

The initiative will adopt a hardware-software co-design approach, which is crucial for achieving the scale of performance required for Ethereums massive user base.

Ponos Technology brings its expertise in ZK proving solutions, particularly through FPGA acceleration, which enhances computation by integrating co-designed hardware and software modules.

This approach is expected to significantly improve scalability, data protection, and interoperability across Ethereum platforms.

Slobodan Lukovic, CEO and co-founder of Ponos Technology, highlighted the transformative potential of ZKP technology, drawing parallels to the evolution of AI.

Just like steady advancements in AI, enhancements in algorithms and hardware will commoditize ZKPs, paving the way for widespread adoption across numerous industries due to increased efficiency and security.

In addition to Ponos Technology, Telos is expanding its development network by partnering with several top-tier organizations in the blockchain realm.

These include Digital M.O.B., known for their work on high-profile projects like MetaMask and MakerDAO; ATKA, a Paris-based web3 incubator with a track record of fostering successful projects; and Cometh, led by Jerome de Tychey, President of ETH France and a new technical EVM advisor to Telos.

John Lilic, Telos Executive Director and a prominent figure in the blockchain industry, will coordinate the project. He emphasized the necessity of a hardware-software co-design to achieve next-level zkEVM performance.

Our approach with Ponos Technology and our expanded partner network is crafted to deliver a high-performance, hardware-accelerated zkEVM L2. This is crucial for supporting scalable and secure applications on Ethereum.

Telos, established in 2018 without an ICO or token sale, continues to drive innovation with its two primary networks, Telos EVM and Telos Zero.

The Telos team is eagerly preparing for EthCC in July, where they will unveil the first-ever demo of SNARKtor live from Brussels, setting the stage for the official launch of the Telos L2.

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Telos Foundation partners with Ponos Technology to develop advanced Ethereum Layer 2 network - InvestorsObserver