THELOGICALINDIAN - Polygon has purchased yet addition ZK activity to strengthen its ascent ecosystem
Polygon has added addition zero-knowledge ascent activity alleged Mir. The aggregation hopes to advantage Mir to add to its armory of ascent solutions.
Polygon Acquires Mir
Polygon has acquired a startup alleged Mir, which offers fast zero-knowledge (ZK) proofs. The cardinal accretion will advice aggrandize Polygon’s ascent portfolio.
ZK is a cryptographic apparatus that can accredit analysis abstracts or ciphering after absolute them to a third party. Several Layer 2 ascent solutions accept chip ZK appearance to enhance both acceleration and aloofness in the aftermost year.
Polygon is one of the top ascent projects on Ethereum, consisting of its flagship Proof-of-Stake sidechain and Layer 2 solutions. Its alternation hosts some of the better decentralized applications (dApps) on Ethereum, including OpenSea, Aave, SushiSwap, Curve, Balancer, and others.
According to a Thursday columnist release, Polygon active a accord to access Mir in barter for $400 actor paid in MATIC tokens. The acquirement was fabricated from Polygon’s $1 billion treasury armamentarium committed to accepting ZK-based projects.
This is Polygon’s third ZK-related acquisition. The aggregation acquired Hermez, an EVM-compatible ZK-rollup service, for $200 actor in August. That accord was followed by the accretion of Miden, a ZK- STARK rollup, in the ages of November.
In a basic accident alleged “ZK day,” Polygon’s co-founders appear that the aggregation advised ZK cryptography to be “the best able band-aid for ascent Ethereum.”
Mir uses a ascent band-aid that leverages cryptographic proofs accepted as ZK-SNARKs. It is based on plonky2, a recursive affidavit agreement accordant with Ethereum. ZK-SNARKs accept additionally been deployed by Mina Protocol, a scalable blockchain with a anchored admeasurement of about 22 KB.
According to Polygon, Mir is currently one of the fastest ZK-based ascent solutions in the market. The aggregation fatigued that breeding ZK proofs on a apparatus is about apathetic and inefficient. However, Mir’s ascent technology can advice natively run ZK proofs on a apparatus such as a laptop aural 170 milliseconds. The aggregation now hopes to advantage this and body an Ethereum band-aid beneath Polygon Zero.
Disclosure: At the time of writing, the buyer of this allotment endemic MATIC and several added cryptocurrencies.
