How Polygon Sealed A $400M Deal To Get Ahead In Ethereum ZK Rollup

Polygon’s Zero-Knowledge (ZK), proof ambitions have been increased by the scaling company. Officially, Mir, a start-up that invests a remarkable amount of money in Polygon has announced it will work with them.

Polygon: Ethereum’s Friend Is Looking To Make Big Strides| Polygon: Ethereum’s Friend Is Looking To Make Big Strides

Mir will work with the ZK Rollup team, which has been in development for more than two years. Brendan Farmer, Daniel Lubarov and their team consisting of individuals with backgrounds in cryptography and pure mathematics, were the founders. They will integrate this startup into Polygon.

Already, the scaling solution is working to help and assist in scaling solutions development. This was possible because the project deposited $1 billion in its treasury.

Additionally, the ZK-friendly EVM Implementation Hermez Network was renamed Polygon Hermez along with Miden and Nightfall, privacy-focused options. Mir, now known as Polygon Zero, will be integrated in this ecosystem.

Ethereum’s network congestion has been a problem since the DeFi boom. It also charges high transaction fees. This has enabled competitors to take market share and raise fees on the Ethereum network.

In that sense, Polygon seeks to improve Ethereum’s transaction capabilities and accelerate the development of ZK proof. This will remove what may be one of the main barriers to mass adoption for Web 3.0 dApps and DeFi.

Mihailo Bjelic, one of Polygon’s Co-Founders, said the following on the potential for ZK rollups development to grow for the benefit of the entire ecosystem:

One of the key missing components required to build highly scalable solutions has been performant recursive proof systems; they simply haven’t existed so far. It is now. This is the end of it. We have created a recursive verification system which is faster than any other and easier to verify on Ethereum. It is an enormous win for all of the industry.

Polygon to Lead Ethereum into the Future

Ethereum can be made more accessible by doing this and it will continue to work towards its ultimate goal of boarding millions of users. Per a press release shared with NewsBTC, the Mir partnership is a “key component” in Polygon’s strategy for Ethereum scaling.

The project will provide further details on their work in the field over the next few weeks. Plonky2, a Plonky2 solution, will be presented. It will produce recursive proofs within milliseconds. This will allow horizontal scaling to become possible.

The project, which will solve one of the biggest problems in scaling, is the capability for each node at every transaction to process transactions, according to Polygon. On their collaboration with Polygon, Mir Brendan Farmer was the co-founder.

It’s an amazing opportunity to scale Ethereum by joining Polygon. Polygon is one of the most dedicated and successful teams in the space, and we’ve been impressed by their commitment to ZK as a scaling solution for Ethereum. We’re very excited to dedicate our world-class team and the technology that we’ve developed toward achieving this vision.

Similar Reading: Polygon’s Total Valu Locked Explodes Could Make MATIC Hotter after a 120% Rally| Polygon’s Total Value Locked Explodes, MATIC Could Run Hotter After A 120% Rally

MATIC currently trades at $2.17 and has made a 4.2% profit over the previous day as of press-time

matic polygon
MATIC trend to the upside on the daily chart. Source: MATICUSDT tradingview

Get more Crypto News at CFX Magazine