Polygon implements Miden: kicking off a protocol for private transactions via ZK rollup.

Polygon has introduced the alpha version of the testnet for its latest zero-knowledge rollup solution called Miden. As a significant developer of layer-2 networks for Ethereum, Polygon introduces a new piece to enhance the scalability and speed of the primary blockchain operating with smart contracts.

The announcement, made on May 6th through a post on Polygon's official channels, unveils the activation of the alpha testnet for Polygon Miden Zero-Knowledge, now available for developers. Miden, a ZK-rollup designed to enhance Ethereum's blockchain capabilities, marks a significant step forward in addressing scalability issues.

Miden introduces client-side proofs, similar to other ZK-rollup solutions, utilizing encryption techniques to verify or "prove" data without revealing its content to the rest of the network. This technology allows for the aggregation of various processes outside the main blockchain, significantly speeding up transactions and reducing network congestion.

Furthermore, Miden includes client-side proofs, enabling users to generate proofs for their transactions locally, without the need to disclose the state to the network. This additional feature reduces network load, enhances privacy, and improves scalability.

Moreover, Miden introduces new functionalities such as enabling private account-to-account exchanges where transactions can remain private, with only the account hash stored on the blockchain. It also leverages parallel transaction execution, allowing for simultaneous processing of transactions, resulting in a much higher throughput than Ethereum's mainnet.

While the testnet for Miden is set to be available from September onwards, details about the timeline for the launch of the mainnet are yet to be disclosed. Positioned as a direct competitor to StarkWare's layer-2 network, Miden aims to rival other ZK solutions like StarkNet and zkSync Era.

Polygon also offers zkEVM, a scalability solution equivalent to the Ethereum Virtual Machine, ensuring compatibility with existing smart contracts, tools, and wallets.

Despite the significant launch of the Miden testnet, there has been no positive impact on the price of Polygon's native token, MATIC, which has experienced a 4% decline in the past 24 hours, trading at $0.7089.

In a recent development, Polygon Labs CEO Marc Boiron criticized the development of Layer 3 networks (L3) on the Ethereum blockchain, arguing that they are unnecessary for network scalability and merely serve to disperse value from the mainnet. Boiron emphasized Polygon Labs' focus on Layer 2 solutions, dismissing the relevance of Layer 3 networks.

While the Layer 3 ecosystem comprises various solutions from Layer 2 networks, recent advancements on Polygon's Proof-of-Stake (PoS) sidechain, including the successful execution of the Napoli hard fork, demonstrate ongoing efforts to improve network efficiency and performance.