Polygon, an Ethereum layer-2 scaling solution, has recently launched its Miden Alpha Testnet, a zero-knowledge rollup solution designed for private, high-throughput applications.
Miden enables its users to generate proofs for their own state transitions without revealing the state to the wider network. The network will only track commitments, meaning users can transact privately.
Some features that will be unlocked with Miden include the ability to create private accounts and private notes, though it will still be possible to create public accounts and public notes. Additionally, the Miden client will enable parallel transaction execution and client-side proving.
“For builders, that means designing self-sovereign and high-throughput applications. With Miden’s zk-powered rollup, you can build what’s currently not feasible on EVM-chains,” Polygon wrote in a post on X.
Read more: ‘Big Four’ accounting firm EY to use Polygon PoS for business contracts
According to Polygon Miden documents, there are currently three different types of smart contracts available on Miden. These include a basic wallet contract for sending and receiving tokens and assets and fungible and non-fungible faucet smart contracts, which are used to mint and burn different assets.
Polygon Miden is not the only rollup solution that is hoping to innovate in the zk rollup space. Competitors include StarkWare and Matter Labs, the team behind zkSync, who are similarly hoping to bring new possibilities to blockchain scaling.
There has been little price action following the announcement of Miden. The price of Polygon’s native token (MATIC) is trading at $0.7153, down by 0.9% over the past 24 hours, according to CoinGecko.
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