Ethereum

2024

Polygon

Read

<p class="is-style-lead">Ethereum ecosystem contributor Polygon Labs increased its zero-knowledge investment to $1 billion with its acquisition of the startup Toposware.</p>
<p>Polygon Labs, the entity behind <a href="https://crypto.news/price/polygon/" rel="noopener noreferrer nofollow">MATIC</a>’s ecosystem, has added the $30 million-valued blockchain builder Toposware to its zero-knowledge (ZK) development arsenal.&nbsp;</p>
<p>Zero-knowledge is a cryptographic technology that allows blockchains to confirm transactions without exposing details about the senders or receivers. The firm has become a frequent employer of the proof system for scaling its Ethereum-based layer-2 networks.&nbsp;</p>
<p>The <a href="https://x.com/0xPolygon/status/1797976686002336043" target="_blank" rel="noopener noreferrer nofollow">acquisition</a> onboards Toposware’s 11 engineers and development stack for what the MATIC developer describes as a “unified web3” vision. It’s the third punt on ZK tech after buying Hermez and Mir back in 2021.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Today, we are so pleased to welcome <a href="https://twitter.com/Toposware?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Toposware</a>, zk to the Polygon Labs team.<br><br>Toposware helped develop the Type 1 zkEVM, and are a powerhouse of zk innovation and technology, having made significant progress on zk-based interoperability. <a href="https://t.co/hQ2dZ1mhsC" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/hQ2dZ1mhsC</a></p>— Polygon | Aggregated (@0xPolygon) <a href="https://twitter.com/0xPolygon/status/1797976686002336043?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>You might also like: <a href="https://crypto.news/is-polygon-a-sleeping-giant-or-a-sinking-ship-analysis-of-matics-next-move/" rel="noopener noreferrer nofollow"> Is Polygon a sleeping giant or a sinking ship? Analysis of MATIC’s next move </a></p>
<h2 class="wp-block-heading" id="broader-implications-for-polygon-s-ecosystem">Broader implications for Polygon’s ecosystem</h2>
<p>The firms also boast a long-standing partnership due to joint work on a Type 1 zkEVM prover. Type 1 zkEVM provers enable any Ethereum Virtual Machine-compatible network to transition into ZK-proof-based chains, improving connectivity and operability with Ethereum’s (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) mainnet.&nbsp;</p>
<p>Acquiring Toposware also means the <a href="https://crypto.news/?s=polygon" target="_blank" rel="noopener noreferrer nofollow">Polygon</a> proof-of-stake (PoS) network will join the AggLayer, a decentralized protocol combining a cryptocurrency bridge and a ZK mechanism to boost cross-chain interoperability.</p>
<p>Polygon Labs CEO Marc Boiron said Toposware’s “deep cryptography and zero-knowledge expertise” represent a perfect fit for advancing the ecosystem and driving more open-source contributions throughout Ethereum’s community.&nbsp;</p>
<p>The focus on ZK tech also builds on a growing preference within the industry as a scaling mechanism for EVM chains. Other than ZK proof, developers also have the option to tap optimistic rollups for building L2 networks.&nbsp;</p>
<p>Technological stacks seek to achieve the game goal – making all EVM chains easier to use for both developers and users without degrading security and decentralization.&nbsp;However, experts like Vitalik Buterin have leaned toward ZK tech ahead of optimistic rollups, touting the former as a cheaper and faster offering.&nbsp;</p>
<p>Read more: <a href="https://crypto.news/paul-oleary-on-how-polygons-zkevm-will-enhance-ethereum-scalability/" rel="noopener noreferrer nofollow"> Paul O’Leary on how Polygon’s zkEVM will enhance Ethereum scalability </a></p>

Polygon Labs acquires ZK builder Toposware for unified web3

Table of Contents

crypto.news

Other articles published on Jun 4, 2024

Australia to Launch First Spot Bitcoin ETF, Directly Holding the Asset

BlackRock’s iShares Bitcoin Trust surpasses $20b in assets

Bitget Wallet Now Supports Taiko Mainnet

Uniswap Launch Privacy Upgrade Amid Governance Vote Delay

BlockDAG’s Keynote 2 Sparks Investor Interest as Daily Earning Projections Jump to $5M; Hedera St...

Ethereum weekly inflows hit $34 million – Are ETFs the reason?

Join our free newsletter for daily crypto updates!