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Polygon to invest up to 250M MATIC into zero-knowledge tech
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Ethereum scaling solution Polygon has announced it will dedicate a maximum of 250 million MATIC tokens ($627.5 million) to a deal with zero-knowledge cryptography startup Mir.
Zero-knowledge algorithms enable external validators to verify encrypted transactions or documents without revealing the sensitive information hidden underneath. It is useful for complex decentralized finance applications, such as decentralized ride-share apps or decentralized health insurance, where nodes need to verify the personal data of blockchain participants without risking privacy leaks.
Mir specializes in developing two subcategories of zero-knowledge proofs: PLONK and Halo. Both represent advancements over previous SNARK and STARK cryptography techniques,
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