Share this article
Polygon has added another zero-knowledge scaling project called Mir. The team hopes to leverage Mir to add to its arsenal of scaling solutions.
Polygon Acquires Mir
Polygon has acquired a startup called Mir, which offers fast zero-knowledge (ZK) proofs. The strategic acquisition will help expand Polygon’s scaling portfolio.
ZK is a cryptographic mechanism that can enable verification data or computation without revealing them to a third party. Several Layer 2 scaling solutions have integrated ZK features to enhance both speed and privacy in the last year.
Polygon is one of the top scaling projects on Ethereum, consisting of its flagship Proof-of-Stake sidechain and Layer 2 solutions. Its chain hosts some of the biggest decentralized applications (dApps) on Ethereum, including OpenSea, Aave, SushiSwap, Curve, Balancer, and others.
According to a Thursday press release, Polygon signed a deal to acquire Mir in exchange for $400 million paid in MATIC tokens. The purchase was made from Polygon’s $1 billion treasury fund dedicated to acquiring ZK-based projects.
This is Polygon’s third ZK-related acquisition. The team acquired Hermez, an EVM-compatible ZK-rollup service, for $200 million in August. That deal was followed by the acquisition of Miden, a ZK- STARK rollup, in the month of November.
In a virtual event called “ZK day,” Polygon’s co-founders announced that the team considered ZK cryptography to be “the most promising solution for scaling Ethereum.”
Mir uses a scaling solution that leverages cryptographic proofs known as ZK-SNARKs. It is based on plonky2, a recursive proof protocol compatible with Ethereum. ZK-SNARKs have also been deployed by Mina Protocol, a scalable blockchain with a fixed size of around 22 KB.
According to Polygon, Mir is currently one of the fastest ZK-based scaling solutions in the market. The team stressed that generating ZK proofs on a machine is generally slow and inefficient. However, Mir’s scaling technology can help natively run ZK proofs on a machine such as a laptop within 170 milliseconds. The team now hopes to leverage this and build an Ethereum solution under Polygon Zero.
Disclosure: At the time of writing, the owner of this piece owned MATIC and several other cryptocurrencies.
After Tether, ZK Rollup Adds Curve Finance for DeFi Implementation
Matter Labs’ Layer 2 solution will enable smart contract capabilities on Ethereum using ZK rollups. Until now, Optimistic was the leading DeFi implementation. ZK Rollup Gets Ready for DeFi Curve…
ZK-Rollups Will Take “Years of Refinement”: Vitalik Buterin
The Ethereum co-founder has high hopes for the future of rollups. Vitalik Buterin Discusses the Future of Rollups Vitalik Buterin has published a new blog post discussing rollups and blockchain…
MDEX: Overlooked Decentralized Exchange That Pays You to Trade
Based on statistics from DeBank and dapp.com, one of the top-performing decentralized exchanges by TVL and trading volume this year is MDEX—an AMM-based DEX functioning across the Huobi Eco-chain (HECO), Binance Smart Chain…
ZK-Rollups and the Path to Scaling Ethereum
As the cost of using Ethereum increases, the need to scale the network has become more apparent than ever. Zero-Knowledge Rollup technology promises to lower gas fees without compromising on…