Wednesday, September 27, 2023
HomeImmutableXPolygon reveals acquisition of zk proofs project Mir in $400 million deal

Polygon reveals acquisition of zk proofs project Mir in $400 million deal


polygon The Ethereum Layer 2 Platform has announced a deal to buy Predictive Labs and its Mir blockchain in a $ 400 million deal.

Developers Predictive Labs specializes in zero-knowledge rollup technology and is gaining attention as a viable privacy and scaling solution.

Looking to the future, this transaction is part of Polygon’s broader strategy to reduce Ethereum gas prices and speed up transactions.

But if you have so many Layer-2s, for example Arbitrum, Optimism, Immutable-X, is the Ethereum ecosystem overcrowded?

Polygon hosted the zk summit

Polygons zk summit On Thursday, they billed as the main space for discussing zero-knowledge technology.

Zero knowledge A verification method that allows one party (certifier) ​​to prove to another party (verifier) ​​that the statement is true without revealing any information about the statement.

This includes variations such as zk-SNARK, which do not require the verifier and verifier to interact, improving privacy and security.

Much has been done about the major announcements to be made for the summit. This, in turn, fueled significant speculation about Polygon’s future plans.

The big achievement turned out to be the acquisition of zk specialist Predictive Labs. Polygon will pay $ 190 million in MATIC tokens in addition to $ 100 million. That’s a total of $ 400 million at today’s price.

Co-founder of Polygon regarding the acquisition Sandeep Nailwal His company wants to offer web3 developers a wide range of affordable and efficient scaling solutions. He added that the contract with Predictive Labs allows us to get going by offering this.

“With the addition of Mir, Polygon will have access to the world’s fastest and most efficient ZK scaling technology.”

Mir will be integrated into the Polygon ecosystem under the name Polygon Zero.

Buterin sees zktech as a big part of Ethereum’s future

Earlier this week, Ethereum co-founder Vitalik Buterin posted an article about the “end games” of Ethereum 2.0.

He only briefly mentioned Polygon, but within the context of a good “block producer”, he devoted a significant portion of his work to zk technology. Therefore, it demonstrates the importance of Ethereum as a scaling and privacy tool for the future.

Among the four major roadmap goals Buterin wants to achieve, he zk-in providing additional security as part of the distributed rollup process he has in mind to improve scalability. We believe that SNARK is essential.

“ZK-SNARK can directly cryptographically prove the validity of a block. Fraud prevention is a simpler scheme that allows anyone to broadcast fraud protection for just that bucket if the block has an invalid bucket. Provides another layer of security on top of the randomly assigned validator. “

Simply put, in the new second tier staking system, transactions are concentrated in buckets and validated at a single root level. This significantly reduces the number of transactions that need to be validated.

He envisions the role of zk-SNARK as a proof mechanism for block validity.

Posted in: polygon, investment
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