How Polygon Sealed A $400M Deal To Get Ahead In The Ethereum ZK Rollup Race
Scaling solution Polygon has stepped up its Zero-Knowledge (ZK) proof ambitions. According to an official post, a startup called Mir will collaborate with Polygon and has invested a staggering amount of $400 million. Related Reading | Polygon: Ethereum’s Friend Is Looking To Make Big Strides Mir and its team of experts will join the scaling solution to implement their ZK Rollup technology, developed for over two years. The startup was founded by Brendan Farmer and Daniel Lubarov, and its team, comprised of people with backgrounds in pure math, cryptography, and engineer, will be....
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On December 9, Polygon co-founder Mihailo Bjelic announced that the project has acquired the Ethereum scaling startup Mir in a $400 million deal. The Mir team of cryptographers and engineers are joining Polygon in order to create a “highly-scalable, Ethereum-compatible ZK rollup” called Polygon Zero.
Mihailo Bjelic: ‘Polygon Is Focused on Zero-Knowledge Cryptography as the End Game for Blockchain Scaling’
Following Polygon’s acquisition of the Hermez Network (now Polygon Hermez) for $250 million in August, the project has announced it has....
It appears that the current crypto market turmoil is not affecting sports sponsorships. This is revealed from the recent sealed deal between Manchester City and OKX crypto exchange company. Manchester City is sitting strong on the current deal they have just sealed with the digital currency exchange firm OKX. The English Premier League (EPL) champions, […]
TIME Magazine has sealed a new deal that will see the media giant hold Ethereum on its balance sheets. The deal marks another of TIME’s foray into the cryptocurrency space. It is one of the leading voices in the media publishing space as the magazine is almost 100 years. The magazine which is infamous for […]
“We believe this is in a way a historical moment since this will be (to the best of our knowledge) the first full-blown merger of two blockchain networks,” said Polygon. Layer-two protocol Polygon will be merging ZK-rollup project Hermez Network into its ecosystem for $250 million worth of MATIC tokens.In a Friday announcement, Polygon said Hermez would become a part of the network’s suite of solutions under the name Polygon Hermez. The 26 people in the Hermez team as well as its tech and solutions — including work on an Ethereum Virtual Machine-compatible solution — will join the....
Ethereum is starting to lose ground to its competitors for USDT usage, and Hermez may help to fix that. Tether (USDT) has now launched on Hermez Network, an Ethereum scalability solution based on the zk-rollup concept. Rollups provide a way of batching or “rolling up” transactions to lighten the load on the Ethereum network.The key to rollups is the concept of data availability, which means that the state data of the rollup is always fully available on-chain. In practice, this means that the Ethereum network knows the token balances of all user accounts on the Hermez rollup after every....