THELOGICALINDIAN - Polygon has alien addition ZKRollup as allotment of its ascent basement
The Polygon aggregation has launched Miden, a new ascent band-aid based on zero-knowledge proofs.
Polygon Adds Layer 2 Solution
Polygon has launched a new Layer 2 ZK-Rollup band-aid alleged Miden. The band-aid uses zero-knowledge STARKs, contrarily accepted as ZK-STARKs—a blazon of cryptographic affidavit technology that can verify abstracts or ciphering after absolute them to a third party.
Miden is the latest activity developed beneath Polygon’s $1 billion armamentarium allocated to ZK-based projects. In August, the Polygon aggregation acquired the ZK-Rollup band-aid Hermez Network for $250 million. The afterward month, it launched Nightfall, a abstracted privacy-focused rollup congenital in accord with EY.
While Polygon is accepted for operating the better sidechain network on Ethereum, the aggregation is additionally developing several Layer 2 ascent solutions, including Optimistic Rollups and ZK-Rollups.
These ascent solutions aim to advice Ethereum acute affairs accomplish the aerial achievement bare for accumulation acceptance by accretion speeds and abbreviation costs after compromising on security. It’s hoped that ascent will advice Ethereum abutment dApps absorption on use cases like gaming, NFTs, and amusing media.
In a columnist release, Polygon co-founder Sandeep Nailwal said that Miden would advice “accelerate validation for DeFi apps and cryptocurrencies,” afore abacus that zero-knowledge proofs are key to allowance Ethereum scale. He said:
“ZK is the way advanced for Ethereum, and Miden VM is one of the best important elements in Polygon’s roadmap for Ethereum scalability.”
Ethereum’s ZK-Rollups acquiesce affairs to be batched and actualize cryptographic proofs. This in about-face reduces the amount on the abject alternation and enables cheaper and faster transactions. However, while ZK-Rollups reduce congestion and gas fees, they are bound in their adeptness to validate all affairs off-chain. Polygon says that Miden will abode the affair by leveraging the Miden Basic Machine (VM), a basic architectonics advised to abutment the processing of acute affairs at the Layer 2 level.
Miden VM is based on Distaff VM, a STARK-based basic apparatus developed by the Ethereum architect Bobbin Threadbare. He has abutting Polygon as Miden Lead to apparatus STARKs aural the Polygon ecosystem.
Threadbare told Crypto Briefing that Miden differs from Hermez in that it is a “pure STARK-based solution” that would advantage its own basic machine. Hermez, however, relies on abounding affinity with the Ethereum Basic Machine.
While Hermez will be absolutely EVM-compatible, Miden’s affinity will alone abide at the Solidity level. Solidity is Ethereum’s programming language; it’s acclimated to address acute affairs on the network. In an alternation with Crypto Briefing, Threadbare explained:
“Miden is a rollup, so it’s added agnate to Hermez than a Proof-of-Stake chain. It’s altered from Hermez in that it is a authentic STARK-based solution, admitting Hermez affairs to use STARKs and Groth16. The added aberration is that Hermez is planning to challenge the EVM at the op-code level, admitting Miden will accept its own VM to which bodies will be able to abridge Solidity code.”
In the future, Polygon affairs to accumulated all of its ascent solutions, including its Proof-of-Stake sidechain, Hermez Network, Miden, and Nightfall. While the Polygon ecosystem has apparent huge advance in 2024, Miden will still accept to attempt with a cardinal of added able aught knowledge-based ascent solutions, including Matter Labs’ zkSync and StarkWare’s Cairo.
Disclosure: At the time of writing, the columnist of this affection endemic ETH, MATIC, and several added cryptocurrencies.
