Miden, a scaling solution that leverages a zero-knowledge mechanism to assist bring broad adoption to the Ethereum blockchain by making transactions cheaper, faster, and more secure, has been introduced by Polygon, a Layer-2 scaling solution.
Scalability is one of the key challenges with the Ethereum blockchain. As the network is used by more and more decentralised apps and services, and transactions grow exponentially, so do the gas fees.
The Ethereum network and services built on it become exceedingly expensive to utilise when there are too many active users on the platform.
Polygon Miden will employ zero-knowledge scalable transparent argument of knowledge (ZK-STARK) technology as an Ethereum virtual machine (EVM) compatible scaling solution to reduce the amount of information that needs to be exchanged between users and enable transactions to be confirmed at a faster rate.
In a statement, Polygon co-founder Sandeep Nailwal said, “ZK is the way ahead for Ethereum and Miden VM is one of the most important elements in Polygon’s roadmap for Ethereum scalability.”
“It will simplify and accelerate validation for DeFi apps and cryptocurrencies — enhancing the speed and scale of the Polygon ecosystem,” he added.
Developers will be able to design scalable decentralised applications (dApps) that prioritise efficiency, user experience (UX), and security thanks to the solution’s tools.