Polygon acquires Predictable Labs for further takeover as part of a $ 500 million deal
Polygon acquires Predictable Labs for further takeover as part of a $ 500 million deal
- polygon has acquired Predictable Labs for 290 Matic token (approx. $ 500 million at the current price) as part of his mission to increase the acceptance of Ethereum.
- The company's MIR blockchain, which has the fastest ZK scaling technology in the world, is now part of the ZK power package from Polygon.
Ethereum Layer-Two scaling solution polygon takes more brave steps in the spread of the ZK (zero-knowledge) rollups technology. Polygon has now taken over the Startup Predictable Labs with a 500 million dollar deal as part of its 1 billion dollar-ZK-based initiatives.
It is noteworthy that the company developed the Mir Blockchain protocol, a host for ZK rollups. The latter are Layer-2 technologies that outsource data from the Ethereum Mainnet to reduce the processing times and costs of transactions. I am now integrated into the ecosystem and renamed Polygon Zero, which, as the company says, is boasting as "the fastest ZK scaling technology in the world". This is the 7th solution that is followed by the ZK power package.
polygon conquers the L2-tech world
This development complements other acquisitions of polygon that aim to expand the capacity and cover of Ethereum. Despite the usability dominance of the network in the crypto industry, its overload and the high fees were critical deterrent in its mission-and polygon tries to solve the two weaknesses.
"Polygon wants web3 developers a wide range of safe, fast, affordable and energy-efficient Ethereum scaling solutions," says Sandeep Nailwal, co-founder of Polygon notes .
The addition of me enables polygon access to the world's fastest and most efficient ZK scaling technology. Zero knowledge is the ultimate limit for scaling blockchains on the Internet level.
In addition, the takeover worth 290 million Matic token polygon makes a much larger player in the area of layer two technologies. The L2 solution also announced "Plonky2", a recursive proof system that enables faster proof generation on laptops. Plonky2 is also Ethereum-compatible and can be used on L1. The rival arbitrum, loopspring, optimism and strong goods also urge layer-2 developments in their ecosystems.
Matic reaction and on-chain data
The native cryptocurrency Matic of Polygon showed a positive dynamic this week despite the broader market depression. On Wednesday, the coin recovered to a high of $ 2.57, just a few cents under its all-time high in May of $ 2.64. In addition, Matic has increased by 9.7 percent in the past two weeks. The most recent increase in the coin is attributed to a strong increase in the number of daily active addresses to polygon, based on the on-chain data provider Santiment.
throughout 2021 Matetic was one of the most powerful cryptocurrencies on the market last year with an increase of 11,469.1 percent. It is currently the 15th crypto-asset with a market capitalization of $ 14.4 billion. At the time of publication, however, Matic was traded at $ 2.09, according to our data, according to our data by 8.6 percent during the day. However, the latest purchase opens doors to greater skills.
Source: Crypto-news-flash.com
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