THELOGICALINDIAN - On December 9 Polygon cofounder Mihailo Bjelic appear that the activity has acquired the Ethereum ascent startup Mir in a 400 actor accord The Mir aggregation of cryptographers and engineers are abutting Polygon in adjustment to actualize a highlyscalable Ethereumcompatible ZK rollup alleged Polygon Zero
Mihailo Bjelic: ‘Polygon Is Focused on Zero-Knowledge Cryptography as the End Game for Blockchain Scaling’
Following Polygon’s accretion of the Hermez Network (now Polygon Hermez) for $250 actor in August, the activity has appear it has purchased the Ethereum ascent startup Mir. Polygon co-founder Mihailo Bjelic appear the accretion on Thursday and said the startup is “building groundbreaking ZK tech.” The $400 actor accord will pave the way for Polygon’s new ZK Rollup project.
“The Mir aggregation is now abutting Polygon in adjustment to advance this groundbreaking technology and body our new activity – Polygon Zero, a highly-scalable, Ethereum-compatible ZK Rollup,” Bjelic said. “Polygon is focused on Zero-Knowledge (ZK) cryptography as the end bold for blockchain scaling. We accept committed $1B from the Polygon treasury to this effort, and we categorical our affairs in our ZK Thesis,” the co-founder added.
During the aftermost 30 days, the Polygon network’s built-in badge MATIC climbed 24% in value, and year-to-date, MATIC has jumped 11,750% in USD value. Furthermore, while the amount to alteration ether is $8.31 per transfer, the amount to do the aforementioned alteration application Polygon Hermez is $0.25, according to l2fees.info. Polygon has additionally appear several new rollups afore the accretion of Mir.
Miden, Nightfall, Plonky2
The activity afresh appear Polygon Miden, a STARK-based, Ethereum-compatible rollup on November 16, and Polygon Nightfall, a privacy-focused rollup. In accession to the Mir acquisition, Polygon’s co-founder capacity that the aggregation affairs to acquaint able recursive proofs.
“ZK ascent represents the approaching of Ethereum, but scalable, EVM-compatible ZK Rollups don’t abide yet,” Bjelic says. “The missing allotment is able recursive proofs, as recursion allows us to parallelize affidavit bearing for abundant bigger performance. Unfortunately, the absolute recursive affidavit systems accurate by Ethereum are inefficient and slow.” Bjelic added added:
This ends today. We are announcement plonky2, a recursive affidavit arrangement that is abundantly fast, and Ethereum-friendly. We accept this engineering advance will be a huge value-add to the association and will accessible new frontiers of Ethereum scaling.
Bjelic added explains that plonky2 is “practical to use on Ethereum” and “plonky2 can accomplish recursive proofs in an absurd 170 milliseconds on a laptop.” The Polygon co-founder abundant that plonky2 will be clearly appear in the abutting few weeks. In agreement of absolute amount bound (TVL) in decentralized accounts (defi), Polygon has $4.88 billion.
The 4.88 billion bound in Polygon defi protocols equates to 1.96% of the $248 billion bound in defi beyond all blockchains, according to defillama.com stats. Defi protocols leveraging Polygon accommodate projects like Aave, Quickswap, Sushiswap, Curve, and Balancer. In attention to the Mir accretion announcement, Bjelic column addendum that allotment of the $400 actor accord was fabricated with MATIC tokens.
What do you anticipate about Polygon accepting Mir in a $400 actor deal? Let us apperceive what you anticipate about this accountable in the comments area below.
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