Polygon, the Ethereum layer-2 developer, has unveiled an alpha version testnet of its new zero-knowledge rollup (ZK-rollup) solution called Miden, as the competition for Ethereum scaling intensifies.
In a post on May 6, Polygon announced that the Polygon Miden Alpha Testnet zero-knowledge was now live for developers to begin testing. Miden is a ZK-rollup designed to enhance the capabilities of the Ethereum blockchain.
Similar to other ZK-rollups, Polygon’s latest solution utilizes a cryptographic technique that allows data to be verified or “proved” without revealing the actual content of the data to the rest of the network.
One of the unique features of Miden is client-side proving, which enables users to generate proofs for their own state transitions locally without having to disclose the state to the network. This not only reduces the network burden but also enhances privacy and scalability.
Miden also introduces additional functionality, such as private accounts that enable private tokens and transactions, where only the hash of the account is stored on-chain.
Moreover, Miden leverages parallel transaction execution, allowing concurrent processing of transactions. This significantly increases its throughput compared to the Ethereum mainnet and helps reduce blockchain node state bloat.
The roadmap for Miden reveals that a builders testnet is scheduled for September, although there is no mention of the mainnet launch timeframe.
Miden enters a market where it directly competes with StarkWare’s layer-2 scaling network and rollup tech stack StarkNet, as well as alternatives like Matter Labs’ zkSync Era.
Polygon also develops zkEVM, an Ethereum Virtual Machine equivalent scaling solution that ensures seamless compatibility with most existing smart contracts, tools, and wallets.
Despite the testnet launch, Polygon’s native token, MATIC, experienced a 3.7% decline in value on the day and was trading at $0.704 at the time of writing.
According to the founder of Polygon Miden, ZK-rollups are considered the ultimate solution for scaling blockchains.