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Polygon Bags ZK Rollups Start-up Mir! MATIC Would be the Plan B For Ethereum Holders!

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Dec 11, 2021

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An eminent layer 2 ETH blockchain platform Polygon is likely to contribute towards the growth of star altcoin.  Matic Network is entitled with a tag of  “Etheruem’s Internet of blockchain”. However, its recent aquisition of the Mir project, an ETH-based Zero-Knowledge (ZK) protocol, intends to boost primary altcoin’s capability and set the stage for wider adoption.

Albeit, the Ethereum blockchain has been one of the most prevalently used networks across the world, high fees and slow transaction speed is the challenge. A start-up project Mir protocol uses groundbreaking technology called Zk rollups that helps to fasten the transaction speed and offloads data from ETH to reduce gas fees. 

Polygon is on the Rise!

Howbeit, the Polygon ecosystem is putting its utmost effort to enable secure, cost-efficient, and fast Ethereum scaling solutions for Web 3 developers. As a part of this, it has confirmed its collaboration with Mir protocol in a $400 million deal on 9th October 2021. The start-up protocol has teamed up with MATIC to bring forth the highly scalable, Ethereum-compatible ZK Rollup project Polygon Zero.

The aquisition of the project is a part of a $1 billion fund allocation to blockchain scaling. 

Mir will be bridged to the Polygon network under its new game, Polygon Zero. Where it intends to portray the future of ETH, yet scalable. The current recursive proof systems backed by Ethreum are slow and ineffectual. Howbeit, Polygon plans for the launch of plonky2, a recursive proof system that is quick, and Ethereum friendly.

Collectively, the Polygon network has employed a world-class team, who possesses incredible backgrounds and skillsets. The dedicated team is active in building Polygon Zero, and the platform is pretty excited to see the outcomes. As a whole, the vision of their project is to boost Ethereum adoption by resolving existing glitches via Zk Rollups.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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