Blockchain News

EY has chosen Polygon to help scale its corporate blockchain products on Ethereum

According to an announcement made on Monday, EY’s core blockchain services. Such as EY OpsChain and EY Blockchain Analyzer, therefore linked with Polygon. Therefore, permitting making transactions to Ethereum via the sidechain.

EY Explains

According to them, Polygon will provide EY’s business clients with higher transaction throughput, consistent costs, and faster settlement times.

In addition, the company said that it is collaborating with Polygon to provide permission, private optimistic rollup chains. Compared to transacting on the Ethereum mainnet, rollups are a second-layer scaling option that delivers greater security and efficiency. EY’s Global Blockchain Leader Paul Brody said:

“Ernst & Young (EY), one of the ‘Big Four’ consulting multinationals. They will connect its blockchain solutions to Polygon to mitigate the scalability constraints of Ethereum’s mainnet. “

“Working with Polygon provides EY teams with a powerful set of tools to scale transactions for clients. Additionally, offers a faster roadmap to integration on the public Ethereum mainnet.”

Polygon Commends

Sandeep Nailwal, a co-founder of Polygon, commended them for their dedication to the Ethereum ecosystem and open technical standards.

While they have continued to improve its layer-two zero-knowledge proof protocol Nightfall, the business also assisted with the March 2020 introduction of the open-source Baseline Protocol.

Due to the continuously high costs associated with transacting on the mainnet, demand for Ethereum scaling solutions has risen in recent months. As a result, the Polygon network’s total value locked (TVL) has been increased from around $1 billion at the beginning of April to $8.5 billion today.

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