Ethereum layer 2 Polygon continues to broaden its list of scaling technologies as it confirmed it bought for $400 million a project focused on zero-knowledge proofs, Mir.
In a press release, it was stated that the systems of Mir are able to create recursive zero-knowledge proofs that “allow many Ethereum transactions to be verified with a single tiny proof,” which could turn Mir into one of the fastest and most efficient layer 2 options.
Mihailo Bjelic, stated:
“The industry is still in an early phase when it comes to scaling and blockchain infrastructure in general. One of the key missing components required to build highly scalable solutions has been performant recursive proof systems; they simply haven’t existed so far. This ends today.”
The acquisition was made using 250 million MATIC tokens at a price of $1.60; following the announcement, the price of MATIC increased to $2.18.