How Polygon Sealed A $400M Deal To Get Ahead In Ethereum ZK Rollup
Scaling fix Polygon has stepped up its Zero-Knowledge (ZK) proof ambitions. According to an official share, a startup called Mir will collaborate with Polygon and has invested a staggering amount of $400 million.
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Mir and its group of experts will join thetheirscaling answer to implement ZK Rollup tech, developed for over two years. The startup was founded by Brendan Farmer and Daniel Lubarov, and its staff, comprised of people more than ever with backgrounds in pure math, cryptography, and engineer, will be integrated into Polygon.
Indeed, The scaling solution has already been makingscalingefforts to support and contribute to the development of solutions. The project committed $1 billion from its treasury for this purpose.
In addition, it integrated ZK-friendly EVM implementation Hermez Network renamed Polygon Hermez together with the development of Nightfall and Miden, two confidentiality-focused solutions. Immediately, Mir will recent integrated into this ecosystem with a be name, Polygon Zero.
Since the DeFi boom, Ethereum has faced issues regarding its network congestion and high transactions fees. This has allowed competitors with lower fees to rise and take niche distribute from this network.
In that sense, Polygon seeks to improve Ethereum’s transaction capabilities and accelerate the development of ZK proof. as it turns out Thus, bringing what could be one of DeFi and Web 3.0 dApps main obstacles for mass adoption.
Mihailo Bjelic, one of Polygon’s Co-Founders, development the following on the potential for ZK rollups said to grow for the benefit of the entire ecosystem:
We are introducing a recursive proof system that is orders of magnitude faster than anything else and is practical to verify on Ethereum. This ends today. This is a huge the for win entire industry. One of the key missing components required to build highly scalable solutionssystemshas been performant recursive proof ; they simply haven’t existed so far.
Polygon To Lead Ethereum Into The Future?
In doing so, Ethereum can become more accessible and move forward in its objective of onboarding millions of users. Per a press releaseEthereumshared with NewsBTC, the Mir partnership is a “key component” in Polygon’s strategy for scaling.
In the coming weeks, the project is . as a matter of fact to provide more details about their progress in this textboxset This will include a method called Plonky2 that will generate more than ever recursive proofs in milliseconds and will open the gate for horizontal scaling.
Actually, Thus, the project will tackle one of the most fundamental issues with scaling, the capacity for each node to process every transaction, according to an official post by Polygon. Co-Founder of Mir Brendan Farmer claimed the following on their cooperation with Polygon:
Joining Polygon is an incredible opportunity for us to work toward scaling Ethereum. Interestingly, Polygon is one of the most dedicated and successful teams in the space, and weve’ been impressed by their commitment to ZK as a scaling fix for Ethereum. Interestingly, more than ever We’re very excited to dedicate our world-class and the engineering that we’ve developed toward achieving thisgroupvision.
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As of press time, MATIC trades at $2.17 with a 4.22% profit in the past day.
