Polygon Continues To Expand

With rumors of Ethereum 2.0 coming out soon it seems like polygon is the only one making moves to expand their ecosystem. Other platforms that are layer 2 of Ethereum that simply offer up a solution to the higher fees might quickly find themselves out of business in the next few months when Ethereum 2.0 launches.

The $400 Million Mir project

Polygon has just quarried the Mir project which is a project that focuses on zero-knowledge proofs.

What is zero knowledge proofs?

It's a cryptography protocol where one can talk to the other and confirm that the transaction or information are true without any other information. Put that into comparison to using a app on your phone. This application tracks and uses your data to resell your personal data such as contact information, interest and preferences. As of late this has become a hot topic and one people are tired of and looking for solutions.

This is done by a protocol known as zero knowledge proofs where no information is actually uses. How is that possible?

It's done by two entities a Verifier and a Prover. In this case the prover only proves that they can do the task without giving any other information. The only thing the verifier sees is the final output showing that the prover can indeed or not do the task. This in turn releases no information at all besides that yes this person or transaction can in fact do what is being asked of it.

How Does This Apply To MIR

With Mir the generation of zero-knowledge proofs is that verify Ethereum transactions with a single tiny proof making it one of the fastest and efficient layer 2 option. How it would work is Mir simply shows the transaction is true without revealing any details about the contents of the transaction.

This puts Polygon on the forefront of Zero-Knowledge proofs at it recently also acquired Hermez Network which is another zero knowledge scaling solution using swaps.

Polygons Future

While polygon initial launched as a way to save on transaction fees like many others it is the one that has worked the closest to Ethereum being that some of the devs on Polygon are the same people that help build Ethereum. This does put Polygon in a unique spot compared to many of it's competitors. Also we can see now that Polygon is clearly on the path to create a privacy focused system which I also think is becoming increasingly important.

What are you thoughts on the direction Polygon seems to be heading?

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