Telos Foundation Partners with Ponos Technology for Ethereum Layer 2 Development
Dubai, United Arab Emirates, April 19th, 2024, Chainwire – The Telos Foundation has announced its collaboration with Ponos Technology, a leading firm specializing in Zero Knowledge Proof (ZKP) research and development. This partnership aims to create a cutting-edge, hardware-accelerated Ethereum Layer 2 network featuring SNARKtor, a decentralized recursive proof aggregator developed by Telos. By employing a hardware-software co-design methodology, the initiative seeks to enhance scalability, data security, and trustless interoperability for Ethereum users around the globe.
Ponos Technology and Its Role in Optimizing ZK Proofs
Ponos Technology specializes in delivering optimized solutions for ZK proving, utilizing FPGA acceleration to maximize efficiency and cost-effectiveness in computation. This approach combines hardware and software modules with dedicated execution environments, creating significant value streams for businesses. The team is composed of seasoned scientists and industry experts who possess extensive expertise in various aspects of ZKPs.
Industry Insights on Zero Knowledge Technology
“Zero Knowledge technology is poised to gain popularity and can significantly improve efficiency and security across multiple sectors,” stated Slobodan Lukovic, CEO and co-founder of Ponos Technology. He likened the evolution of ZKPs to that of artificial intelligence, suggesting that ongoing improvements in algorithms and hardware will lead to the widespread adoption of this technology in the near future.
Collaboration with Additional Partners
During the development phase, Telos will also team up with several other prominent partners including: Digital M.O.B., recognized as one of the top Ethereum developer teams with experience on projects such as MetaMask, MakerDAO, and Gnosis; ATKA, a Paris-based Web3 incubator that has supported notable projects like Morpho and Mangrove; and Cometh, an award-winning development team led by ETH France President Jerome de Tychey, who has joined Telos as a technical EVM advisor.
Leadership and Coordination for the Project
Telos Executive Director John Lilic, who has played key roles in pioneering teams at Consensys and Polygon and is also a recognized Web3 angel investor, will oversee this transformation. He will collaborate closely with Alberto Garoffolo, Telos’s Head of ZK technology and co-author of the SNARKtor whitepaper, as well as Jesse Schulman, the CTO and Head of Engineering at Telos.
Strategic Approach to zkEVM Performance
“Ethereum must adopt a hardware-software co-design strategy to achieve exceptional zkEVM performance at scale,” remarked Lilic. “This is the direction we are pursuing with Ponos Technology and our expanding network of partners as we develop a hardware-accelerated zkEVM Layer 2. We believe this collaborative approach, combined with our innovative work on recursive proofs via SNARKtor, will deliver valuable services to the Ethereum ecosystem and beyond.”
Telos Foundation’s Background and Future Plans
Founded in 2018 through a fair drop network launch without an ICO or token sale, the Telos Foundation has guided the development of two main networks—Telos EVM and Telos Zero. Moving forward, the foundation will also concentrate on creating a highly efficient, succinctly provable L2 zkEVM.
Upcoming Announcements and Events
Additional information regarding the Telos Layer 2 initiative will be revealed leading up to EthCC in July, where Telos will be a key sponsor. The Telos team is set to showcase its first demonstration of SNARKtor live in Brussels at EthCC, marking an exciting precursor to the official launch of the Telos Layer 2 network.
About Telos
Telos is a decentralized blockchain ecosystem encompassing Telos EVM, recognized as the fastest Ethereum Virtual Machine, along with its high-speed consensus layer, Telos Zero. The project is dedicated to enhancing its capabilities through innovative Zero Knowledge technology, aimed at developing a hardware-accelerated Ethereum Layer 2 network powered by SNARKtor, which is expected to improve privacy and scalability for global applications. The Telos Foundation oversees the network, committed to fostering the growth of the Telos blockchain and its community.
