EY chooses Polygon to scale its enterprise blockchain products to Ethereum

As announced on Monday, EY’s flagship blockchain services, including EY OpsChain and EY Blockchain Analyzer, will be integrated into Polygon so that transactions can be transmitted to Ethereum via the sidechain.

EY emphasizes that with Polygon, its enterprise customers will have access to increased transaction throughput with predictable fees and settlement times.

The company also announced that it is partnering with Polygon to provide private, approved upbeat chains of aggregates. Rollups is a second-tier scaling solution that offers greater security and efficiency compared to transactions on the Ethereum mainnet. Paul Brody, EY Global Blockchain Lead, commented:

Ernst & Young (EY), one of the “Big Four” consulting multinationals, will combine its blockchain solutions with Polygon in order to alleviate the scalability restrictions of the Ethereum mainnet.

“Working with Polygon provides EY teams with powerful tools to scale trade for customers and a roadmap for faster integration with the public Ethereum mainnet.”

Sandeep Nailwal, co-founder of Polygon, praised EY for its commitment to the Ethereum ecosystem and open technology standards.

While EY continues to iterate the Nightfall Layer 2 zero-knowledge protocol, the company also helped roll out the Open Source Base Protocol in March 2020.

Related: EY releases Ethereum scaling solution for the public sector

The demand for Ethereum scaling solutions has increased in recent months given the persistently high fees associated with transactions on the mainnet. As a result, the Total Value Locked (TVL) on the Polygon network has increased from about $ 1 billion in early April to $ 8.5 billion today.