Polygon’s $493 million deal to push Ethereum scaling to next level

Polygon network did a deal of around $493 million, to continue to work on the scaling solution and other development in favor of the Ethereum blockchain network. 

Polygon network is a crypto project, which grabbed huge attention in the crypto market because of their initiative to work on the Ethereum blockchain network scaling solution with the layer2 scaling idea. 

Now in the latest, Polygon unveiled its plan of acquisition of Mir. 

Here Mir is a crypto project, which is dedicated to developing knowledge on the ZK ( Zero-Knowledge) technology. And the main initiative of the ZK technology is to introduce a layer2 scaling solution to the Ethereum blockchain, to facilitate bundles of transactions on the off-chain side with the verification of transactions on the Ethereum network. In short, we can say that ZK has almost the same vision as Polygon.

Through the blog post announced, Polygon confirmed that ZK can bring a scaling solution on Ethereum blockchain but currently is not able to bring compatibility with the EVM. 

“ZK scaling represents the future of Ethereum, but scalable, EVM-compatible ZK Rollups don’t exist yet. The missing piece is efficient recursive proofs, as recursion allows us to parallelize proof generation for much better performance.”

According to Polygon, recursive proof systems of most crypto projects are not better in terms of efficiency and Scalability but now Polygon will do better with the recursive proof that has been researched and developed by the ZK in last two years. 

“Plonky2, a recursive proof system that is incredibly fast, and Ethereum-friendly. We believe this engineering breakthrough will be a huge value-add to the community and will open new frontiers of Ethereum scaling.”

As per the announcement, the deal took place with $100 million and 190 million matic tokens. So overall these will be equal to the $493 million value at the current price of the Matic token. 

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