Polygon invests up to 250 million MATIC in zero-knowledge technology


Polygon, the Ethereum expansion solution, announced that it will invest up to 250 million yuan Matic The token ($627.5 million) reached a deal with the zero-knowledge cryptography startup Mir.

The zero-knowledge algorithm enables external validators to verify encrypted transactions or documents without revealing sensitive information hidden underneath.It is useful for complex Decentralized financial applications, Such as decentralized carpooling applications or decentralized health insurance, nodes need to verify the personal data of blockchain participants without risking privacy leakage.

Mir focuses on the development of two subcategories of zero-knowledge proofs: PLONK and Halo.Both represent an improvement over the previous Snark with Stark Cryptography technology allows to generate proofs in a few seconds.

Although PLONK still requires trusted verification settings, the Halo algorithm can accomplish the task in a decentralized manner. Speed ​​is a core design consideration for zero-knowledge proofs. Complex information to be transmitted through the blockchain, such as edited photo IDs, may take up a lot of space, thereby affecting the applicability of transactions.

“Polygon plans to use ZK cryptography as the ultimate game of blockchain expansion,” said Sandeep Nailwal, the co-founder of Polygon.

“We have made a strategic decision to explore and encourage all meaningful expansion methods and technologies at this stage. We believe that this is what makes Polygon a leading force and contributor in the ZK field, and allows the first batch of 1 billion users to join Ethereum The way.”

The Mir acquisition is part of a larger scale $1 billion pledge Zero-knowledge technology developed by Polygon.