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Polygon is a gaming news site that covers the latest happenings in video games. In 2018, Polygon acquired MIR, an Ethereum-based project focused on decentralized privacy and security for blockchain applications.
In a $400 million agreement, the Ethereum Layer-2 platform will purchase Predictive Labs and its Mir blockchain, according to Polygon.
Predictive Labs specializes on zero-knowledge roll-up technology, which is gaining popularity as a privacy and scalability solution.
The move is part of Polygon’s larger goal to cut Ethereum gas expenses and speed up transactions in the future.
Is the Ethereum environment becoming saturated with so many Layer-2s, such as Arbitrum, Optimism, and Immutable-X, to mention a few?
The zk Summit was held at Polygon.
On Thursday, Polygon sponsored the zk Summit, which they advertised as the premier forum for discussing zero-knowledge technologies.
The term “zero-knowledge” refers to a technique of verification in which one person (the prover) may prove to another (the verifier) that a statement is true without disclosing any information about the assertion.
There are certain variants of this, such as zk-SNARKs, in which the prover and verifier do not need to communicate, resulting in increased anonymity and security.
Much was made in the run-up to the summit about a huge announcement that would be made. As a result, there has been a lot of conjecture about Polygon’s future ambitions.
The purchase of zk experts Predictive Labs turned out to be the big revelation. Polygon will pay $100 million in addition to 190 million $MATIC tokens, for a total of $400 million at today’s prices.
Sandeep Nailwal, co-founder of Polygon, said his company hopes to provide a broad choice of economical and effective scaling options for web3 developers as a result of the purchase. He went on to say that the agreement with Predictive Labs assures that they keep on pace with this.
“Polygon now has access to the world’s fastest and most efficient ZK scaling technology thanks to the acquisition of Mir.”
Polygon Zero will be the moniker given to Mir’s integration into the Polygon ecosystem.
Buterin believes that zk technology will play a significant role in Ethereum’s future.
Ethereum co-founder Vitalik Buterin published an essay on Ethereum 2.0’s “endgame” earlier this week.
While he only referenced Polygon once, he did devote a substantial chunk of the paper on zk technology in the context of a competent “block manufacturer.” As a result, it’s critical for Ethereum’s future as a scalability and privacy tool.
Buterin views zk-SNARKs as critical to providing extra security as part of the distributed roll-up process he envisions for greater scalability, which is one of the four primary roadmap objectives he wants to accomplish.
“While ZK-SNARKs can directly cryptographically confirm block validity, fraud proofs are a simpler approach in which anybody may broadcast a fraud proof of a single faulty bucket in a block.” On top of the randomly selected validators, this adds another degree of security.”
Transactions would filter into buckets to be confirmed at the single root level in a new second-tier staking mechanism, to summarize. This would greatly reduce the number of transactions that would need to be confirmed.
He sees zk-SNARKs as a block validity proofing tool.
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