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

Ethereum Polygon’s Layer 2 solution is unveiling a massive acquisition worth hundreds of millions of dollars to expand its repertoire of technologies at scale.

In a new blog post, Polygon (MATIC) announces the acquisition of Mir, a startup focused on developing zero knowledge (ZK) technology.

ZK Rollups are Layer 2 solutions that bundle hundreds of off-chain transactions and produce cryptographic evidence that is instantly verified by the main chain, resulting in faster time-to-finality.

With the acquisition of Mir and its Plonky2 recursive test system, MATIC hopes to not only improve ZK’s current ETH-compliant rollups, but also create those that work with the Ethereum Virtual Machine (EVM).

“The scale of ZK represents the future of Ethereum, but scalable and EVM-compatible ZK roll-ups don’t exist yet. The missing piece is efficient recursive tests, as recursion allows us to parallelize the test build for much better performance.

Unfortunately, the existing recursive test systems compatible with Ethereum are inefficient and slow.

This ends today. We are announcing Plonky2, a recursive test system that is incredibly fast and compatible with Ethereum. We believe this engineering breakthrough will be a great added value for the community and will open new frontiers for the scale of Ethereum. “

Polygon says that Mir has been working on recursive tests for over two years and that Plonky2 has been shown to generate recursive tests in 170 milliseconds on a laptop, making it ideal for building an EVM-compatible ZK cumulative package.

According to the statement, the maximum amount committed to the deal is $ 100 million and 190 million MATIC tokens. With MATIC trading hands at $ 2.07, the deal could be worth up to $ 493 million.

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