- Polygon has launched a ZK-Rollup resolution known as Miden. It’s the most recent undertaking developed below Polygon’s $1 billion fund allotted to ZK-based initiatives.
- Miden is developed by Ethereum engineer Bobbin Threadbare.
- The Polygon staff additionally just lately acquired the ZK-Rollup resolution Hermez Network for $250 million.
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The Polygon staff has launched Miden, a brand new scaling resolution primarily based on zero-knowledge proofs.
Polygon Adds Layer 2 Solution
Polygon has launched a brand new Layer 2 ZK-Rollup resolution known as Miden. The resolution makes use of zero-knowledge STARKs, in any other case referred to as ZK-STARKs—a sort of cryptographic proof know-how that may confirm knowledge or computation with out revealing them to a 3rd get together.
Miden is the most recent undertaking developed below Polygon’s $1 billion fund allotted to ZK-based initiatives. In August, the Polygon staff acquired the ZK-Rollup resolution Hermez Network for $250 million. The following month, it launched Nightfall, a separate privacy-focused rollup inbuilt collaboration with EY.
While Polygon is understood for working the biggest sidechain community on Ethereum, the staff can also be creating a number of Layer 2 scaling options, together with Optimistic Rollups and ZK-Rollups.
These scaling options goal to assist Ethereum good contracts obtain the excessive efficiency wanted for mass adoption by rising speeds and decreasing prices with out compromising on safety. It’s hoped that scaling will assist Ethereum help dApps specializing in use instances like gaming, NFTs, and social media.
In a press launch, Polygon co-founder Sandeep Nailwal mentioned that Miden would assist “speed up validation for DeFi apps and cryptocurrencies,” earlier than including that zero-knowledge proofs are key to serving to Ethereum scale. He mentioned:
“ZK is the best way forward for Ethereum, and Miden VM is among the most essential parts in Polygon’s roadmap for Ethereum scalability.”
Ethereum’s ZK-Rollups enable transactions to be batched and create a cryptographic proof. This in flip reduces the load on the bottom chain and allows cheaper and sooner transactions. However, whereas ZK-Rollups scale back congestion and gasoline charges, they’re restricted of their capacity to validate all transactions off-chain. Polygon says that Miden will handle the problem by leveraging the Miden Virtual Machine (VM), a digital structure designed to help the processing of good contracts on the Layer 2 stage.
Miden VM relies on Distaff VM, a STARK-based digital machine developed by the Ethereum engineer Bobbin Threadbare. He has joined Polygon as Miden Lead to implement STARKs throughout the Polygon ecosystem.
Threadbare instructed Crypto Briefing that Miden differs from Hermez in that it’s a “pure STARK-based resolution” that might leverage its personal digital machine. Hermez, nevertheless, depends on full compatibility with the Ethereum Virtual Machine.
While Hermez shall be absolutely EVM-compatible, Miden’s compatibility will solely exist on the Solidity stage. Solidity is Ethereum’s programming language; it’s used to write good contracts on the community. Boobin defined:
“Miden is a rollup, so it’s extra related to Hermez than a Proof-of-Stake chain. It’s totally different from Hermez in that it’s a pure STARK-based resolution, whereas Hermez plans to use STARKs and Groth16. The different distinction is that Hermez is planning to emulate the EVM on the op-code stage, whereas Miden can have its personal VM to which individuals shall be in a position to compile Solidity code.”
In the long run, Polygon plans to combination all of its scaling options, together with its Proof-of-Stake sidechain, Hermez Network, Miden, and Nightfall. While the Polygon ecosystem has seen enormous progress in 2021, Miden will nonetheless have to compete with quite a few different promising zero knowledge-based scaling options, together with Matter Labs’ zkSync and StarkWare’s Cairo.
Disclosure: At the time of writing, the writer of this characteristic owned ETH, MATIC, and several other different cryptocurrencies.
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