Polygon spent $ 400 million on Ethereum with Mir. Protocol to scale

Polygon has spent $ 400 million to scale Ethereum and will do so using the MIR protocol as a platform that uses zero-knowledge evidence to build decentralized applications. In today’s latest Ethereum news, we take a look at some more scaling solutions.

Polygon is an Ethereum scaling platform and now has spent $ 400 million with Mir to scale ETH and can scale the scaling solutions on offer. Ethereum 2. is supposed to solve Ethereum’s congestion problem, but that doesn’t mean that Polygon’s help in lowering fees and easing demand pressures will be dropped. At today’s ZDK event, the Scaling Platform announced the acquisition of the Mir Protocol as a platform that uses zero-knowledge proofs to create a decentralized application outside of the ETH network. According to Polygon, the deal will be valued at around $ 400 million in MATIC tokens.

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The acquisition confirms rumors that the project will spend a significant portion of the $ 1 billion allocated to scale Ethereum upon the Mir acquisition. Polygon has teamed up with the Hermez ZK roll-up project in a $ 250 million deal. ZK-Know-how is all about data protection as it is a cryptographic way of checking something without transferring some personal information. So if you assume you have $ 100 in your pocket and can prove it without opening a wallet, that would be great. I took over the concept and implemented it so that developers can create a permanent app with integrated data protection. Polygon, or Matic Community, used to be known as a protocol that sits on top of Ethereum and is designed to take the pressure off it. As NFTs, decentralized financial applications and blockchain games are becoming increasingly popular, with more competition for Ethereum transactions, essentially resulting in high congestion and fees.

Polygon’s basic strategy is to use sidechains or blockchains that can break from one chain to another so that they can accommodate more transactions.

The long-term roadmap shows that Polygon is jumping into different solutions, making Ethereum faster and more available. Co-founder Sandeep Naiwal said:

“We made the strategic decision to explore and promote all scaling methods and technologies that make sense at this stage. We believe this is the way to establish Polygon as a leading force and contributor in the ZK space and attract the first billion users of Ethereum. ”

The ZK synthesis is an important part of the strategy. They use zero knowledge evidence to aggregate some transactions into one large transaction so that the ETH blockchain isn’t hit by small requests to send funds, but can process them once. Co-founder of Polygon Mihailo Bjelic Note:

“We’re introducing a recursive evidence system that is faster than anything and convenient for checking for Ethereum.”