- Polygon has launched a ZK-Rollup answer known as Miden. It is the newest challenge developed below Polygon’s $1 billion fund allotted to ZK-based initiatives.
- Miden is developed by Ethereum engineer Bobbin Threadbare.
- The Polygon staff additionally not too long ago acquired the ZK-Rollup answer Hermez Community for $250 million.
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The Polygon staff has launched Miden, a brand new scaling answer primarily based on zero-knowledge proofs.
Polygon Provides Layer 2 Answer
Polygon has launched a brand new Layer 2 ZK-Rollup answer known as Miden. The answer makes use of zero-knowledge STARKs, in any other case referred to as ZK-STARKs—a kind of cryptographic proof know-how that may confirm information or computation with out revealing them to a 3rd social gathering.
Miden is the newest challenge developed below Polygon’s $1 billion fund allotted to ZK-based initiatives. In August, the Polygon staff acquired the ZK-Rollup answer Hermez Community for $250 million. The next month, it launched Nightfall, a separate privacy-focused rollup inbuilt collaboration with EY.
Whereas Polygon is understood for working the most important sidechain network on Ethereum, the staff can be creating a number of Layer 2 scaling options, together with Optimistic Rollups and ZK-Rollups.
These scaling options intention 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 circumstances like gaming, NFTs, and social media.
In a press launch, Polygon co-founder Sandeep Nailwal stated 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 stated:
“ZK is the best way forward for Ethereum, and Miden VM is likely one of the most necessary 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. Nonetheless, whereas ZK-Rollups reduce congestion and fuel charges, they’re restricted of their capability to validate all transactions off-chain. Polygon says that Miden will handle the difficulty by leveraging the Miden Digital Machine (VM), a digital structure designed to help the processing of good contracts on the Layer 2 degree.
Miden VM relies on Distaff VM, a STARK-based digital machine developed by the Ethereum engineer Bobbin Threadbare. He has joined Polygon as Miden Result in implement STARKs inside the Polygon ecosystem.
Threadbare advised Crypto Briefing that Miden differs from Hermez in that it’s a “pure STARK-based answer” that will leverage its personal digital machine. Hermez, nevertheless, depends on full compatibility with the Ethereum Digital Machine.
Whereas Hermez will likely be totally EVM-compatible, Miden’s compatibility will solely exist on the Solidity degree. Solidity is Ethereum’s programming language; it’s used to jot down good contracts on the community. Boobin defined:
“Miden is a rollup, so it’s extra much like Hermez than a Proof-of-Stake chain. It’s completely different from Hermez in that it’s a pure STARK-based answer, whereas Hermez plans to make use of STARKs and Groth16. The opposite distinction is that Hermez is planning to emulate the EVM on the op-code degree, whereas Miden could have its personal VM to which individuals will have the ability to compile Solidity code.”
Sooner or later, Polygon plans to combination all of its scaling options, together with its Proof-of-Stake sidechain, Hermez Community, Miden, and Dusk. Whereas the Polygon ecosystem has seen big progress in 2021, Miden will nonetheless should compete with various different promising zero knowledge-based scaling options, together with Matter Labs’ zkSync and StarkWare’s Cairo.
Disclosure: On the time of writing, the writer of this function owned ETH, MATIC, and several other different cryptocurrencies.
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