⚡ Polygon Labs Doubles Down on ZK Technology
posted 4 Jun 2024
Polygon Labs, a crypto company, has acquired the research platform Toposware, which aided developers in creating Polygon Type-1 — a project allowing any EVM network to become an L2 blockchain with zero-knowledge (ZK) proof. The deal is estimated to be worth between $30 million and $50 million, according to various sources.
Toposware joining Polygon Labs signals our continued commitment to building the world’s best ZK research and development team,stated Marc Boiron, CEO of Polygon Labs.
Polygon's development team has been focusing on ZK technology for a while, considering it the key solution for scaling the Ethereum mainnet in the near future. Previously, the company acquired Hermez and Mir projects, making the Toposware developers the third team to work on this technology.
According to various estimates, Polygon Labs spent considerably more on the acquisition of the previous companies in 2021, around $250 million and $400 million, respectively. However, company officials noted that with the acquisition of Toposware, their total investment in ZK technology has exceeded $1 billion, suggesting that the actual acquisition costs may be higher.
In the next few months, Toposware developers will fully integrate with the existing Polygon ZK teams. Their mission is to enhance and refine AggLayer, Polygon CDK, and Polygon zkEVM, including transitioning the Polygon PoS blockchain to a zero-knowledge solution.
More breaking news
More breaking news
Breaking news
⚡ Bitwise CIO Matt Hougan Defends Ethereum
