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Polygon Announces Nearly $500,000,000 Deal in Effort To Lead Ethereum-Scaling Solution Race

Ethereum layer 2 resolution Polygon is unveiling an enormous acquisition value lots of of hundreds of thousands of {dollars} to develop its repertoire of scaling applied sciences.

In a brand new weblog put up, Polygon (MATIC) pronounces the acquisition of Mir, a startup targeted on growing zero-knowledge (ZK) expertise.

ZK-rollups are layer 2 options that bundle lots of of transactions off-chain and produce cryptographic proof that’s immediately verified by the mainchain, ensuing in a quicker finality time.

With the acquisition of Mir and its recursive proof system Plonky2, MATIC hopes not solely to enhance the present ZK rollups appropriate with ETH but additionally create ones that work with the Ethereum Virtual Machine (EVM).

“ZK scaling represents the way forward for Ethereum, however scalable, EVM-compatible ZK Rollups don’t exist but. The lacking piece is environment friendly recursive proofs, as recursion permits us to parallelize proof technology for a lot better efficiency.

Unfortunately, the prevailing recursive proof programs supported by Ethereum are inefficient and sluggish.

This ends at present. We are asserting Plonky2, a recursive proof system that’s extremely quick, and Ethereum-friendly. We consider this engineering breakthrough will likely be an enormous value-add to the group and can open new frontiers of Ethereum scaling.”

Polygon says that Mir has been engaged on recursive proofs for over two years and that Plonky2 has been proven to generate recursive proofs in 170 milliseconds on a laptop computer laptop, which makes it preferrred for constructing a ZK rollup appropriate with EVM.

According to the assertion, the utmost quantity dedicated to the deal is $100 million and 190 million MATIC tokens. With MATIC is exchanging arms at $2.07, the deal could possibly be value as a lot as $493 million.

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Featured Image: Shutterstock/Nithid/Vladimir Sazonov

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