July 24, 2024
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Polygon Deals About $500,000,000 To Lead Ethereum-Scaling Solution Race

Ethereum layer 2 solution Polygon reveals a huge acquisition of hundreds of millions of dollars. Of course, the focus is to expand its set of scaling technologies.

So, Polygon (MATIC) reveals in a blog post the acquisition of Mir, a startup on developing zero-knowledge (ZK) technology.

Furthermore, ZK-rollups are layer 2 solutions with hundreds of transactions off-chain. Also, it produces cryptographic proof with instant verification by the mainchain with a a faster timeframe.

More so, this acquisition of Mir and its recursive proof system Plonky2 gives Polygon the chance to improve the current ZK rollups compatible with ETH. Also, it will help them create ones working with the Ethereum Virtual Machine (EVM).

“ZK scaling represents the future of Ethereum, but scalable, EVM-compatible ZK Rollups don’t exist yet…”
“The missing piece is efficient recursive proofs, as recursion allows…”
“us to parallelize proof generation for much better performance.”

So, Polygon reveals.
“Unfortunately, the existing recursive proof systems supported by Ethereum are inefficient and slow.”

“This ends today. We are announcing Plonky2, a recursive proof system that is incredibly fast, and Ethereum-friendly…”
“We believe this engineering breakthrough will be a huge value-add…”
“to the community and will open new frontiers of Ethereum scaling.”

More so, Polygon confirms how Mir is working on recursive proofs for over two years. Also, how Plonky2 is for generating recursive proofs in 170 milliseconds on a laptop computer. Thereby, making it perfect for building a ZK rollup compatible with EVM.

Lastly, as per the statement, the maximum amount for thehe deal is $100 million and 190 million MATIC tokens.

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