Blockchain project Polygon (MATIC) has just bought the startup Mir Protocol, a company specialized in the development of Ethereum scaling solutions based on the ZK-Rollups tech.
The deal reportedly amounts to as much as $400 million.
As part of the deal, the startup will receive $190 million in MATIC tokens and $100 million in the stablecoin USD Coin (USDC). The deal was signed last November 26.
Polygon claims Mir Protocol has the fastest ZK proof technology (0.17 seconds on a regular laptop). This means it can generate ZK proofs faster and verify more transactions in a single proof.
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Under the terms of the agreement, Mir Protocol will rebrand to Polygon Zero. The plonky2 protocol developed by the startup will form the basis of the solution the project team is positioning as the ultimate L2 for Ethereum based on ZK-Rollups.
Polygon co-founder Mihailo Bjelic has said the first rollups from the new division will be ready next year. According to him, in mid-2022, the Polygon Hermez team is expected to launch zkEVM.