Polygon takes over ZK Tech developer Mir for $ 400 million: report

Polygon has acquired technology developer ZK Mir, which continues to expand, spending $ 400 million on a new acquisition. Let’s find out more about our latest crypto news today.

Ethereum Layer 2 scaling solution. Polygon acquired developer ZK Tech Mir for $ 400 million, and the platform bought 250 million MATIC tokens as it also announced the context of Polygon’s zk virtual event tag. After the deal, the price of MATIC increased by more than 50%. According to a posting on the website, the Mira team will join Polygon to leverage its technology as well as help develop new projects. A new initiative called Polygon Zero is described as a ZK merger that is much more scalable and compatible with Ethereum. The Polygon Zero team is growing very rapidly and is recruiting a number of new employees with solid basic knowledge. The project is currently under development and implementation.

1/8 Officially: #Polygon welcome @MirProtokoll, groundbreaking startup ZK with a $ 400 million deal!

Mira’s wonderful team has created the world’s fastest ZK scaling technology, which we share together to create Polygon Zero, a highly scalable ZK accumulative package that is compatible with Ethereum. ?? pic.twitter.com/99m7Y0tDTN

– polygon | $ MATIC – We’re Hiring! (@ 0xPolygon) December 9, 2021

Polygon’s zero goal is to foster Ethereum adoption through significant scalability improvements without the need to avoid security as it joins a roster of initiatives such as Polygon Hermez, Polygon Miden, Polygon SDK, Polygon Avail, and Polygon PoS Connections.

I have also been involved in recursive ZK proofs for two years, and the Ethereum scaling startup was also the first company in the field to implement these PLONK and Halo-based methods last year.

He plans to work on recursive proofs in less than a second, while Plonky2 can generate these recursive proofs on a computer system in 170 milliseconds, and the Polygon co-founder even believes they can be used on Ethereum. Unique features are designed to pave the way for horizontal scaling of the blockchain network. Zero knowledge proofs are cryptographic algorithms that, like blockchain transactions, allow data to be verified without the need to disclose details or content.

Polygon has been focusing primarily on zero-knowledge crypto scaling for quite some time now and announced that it will commit $ 1 billion towards raising the bar in stages, developing ZK-based solutions, recruiting talent in this area, and collaborating with other teams. and projects in which, among other things, ZK solutions are used. Mir’s latest addition to the platform will provide faster access to the world’s fastest AC scaling technology, according to co-founder Sandeep Naival.