Polygon, a leading Ethereum layer-2 developer, has launched the alpha version testnet of its latest zero-knowledge (ZK)-rollup solution called Miden. This new solution is designed to enhance the capabilities of the Ethereum blockchain and is now available for developers to test. Miden incorporates client-side proving, which allows users to generate proofs for their own state transitions locally without revealing the state to the network. This approach aims to reduce network load, improve privacy, and enhance scalability.
The Miden solution introduces new functionalities such as private accounts that support private tokens and transactions, with only the hash of the account stored on the blockchain. It also leverages parallel transaction execution to allow for concurrent processing of transactions, resulting in higher throughput compared to the Ethereum mainnet and reduced blockchain node state bloat. The roadmap for Miden indicates that a builders testnet is scheduled for September, although there is no specific timeframe mentioned for the mainnet launch.
Miden enters the market in direct competition with existing solutions like StarkWare’s StarkNet and Matter Labs’ zkSync Era. Polygon also offers zkEVM, a scaling solution equivalent to the Ethereum Virtual Machine, ensuring compatibility with existing smart contracts, tools, and wallets. Despite the launch of the Miden testnet, the native token of the Polygon blockchain did not experience a significant reaction in the market, with its value falling by 5% to $0.704 at the time of writing.
Polygon Labs CEO, Marc Boiron, recently criticized Layer 3 (L3) networks on the Ethereum blockchain, claiming they are unnecessary for scaling the network and only serve to drain value from the mainnet. Boiron expressed skepticism about L3 networks, stating that Polygon Labs focuses on Layer 2 (L2) scaling for Ethereum because L3s are not essential for scaling existing networks. He argued that L3s exist only to divert value from Ethereum to the L2 networks they are built on. The L3 ecosystem includes solutions from L2 networks like Orbs, Xai, zkSync Hyperchains, and the recently launched Degen Chain on Arbitrum Orbit.
In contrast to L3 networks, the Polygon Proof-of-Stake (PoS) sidechain successfully executed the Napoli hard fork, adding support for Dencun features and becoming the first network to support RIP-7212. EIP-1153 aims to optimize block space utilization and improve the network’s overall performance. Despite the ongoing development and advancements in Ethereum scaling solutions, Polygon continues to offer innovative solutions like Miden and zkEVM to address the scalability and privacy challenges faced by the Ethereum network. The competition among different layer-2 and rollup technologies highlights the vibrant ecosystem of solutions aiming to enhance Ethereum’s capabilities and user experience.
