Polygon, the Ethereum layer-2 developer, has introduced an alpha version testnet of its latest zero-knowledge rollup (ZK-rollup) solution called Miden as competition in the Ethereum scaling market intensifies.
In a post on May 6, Polygon announced that the Polygon Miden Alpha Testnet zero-knowledge was now available 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 type of cryptography that allows data to be verified or “proved” without revealing its contents to the rest of the network.
Miden also incorporates client-side proving, which enables users to locally generate proofs for their own state transitions without the need to disclose the state to the network. This feature aims to reduce the network’s load, while also improving privacy and scalability.
Additionally, Miden introduces new functionalities, such as private accounts that enable private tokens and transactions, where only the hash of the account is stored on-chain.
Miden also takes advantage of parallel transaction execution, allowing multiple transactions to be processed concurrently. This enables Miden to achieve a significantly higher throughput than the Ethereum mainnet and reduces blockchain node state bloat.
The roadmap for Miden includes plans for customizable smart contracts and customized node scripts. Users will have the ability to write their own node scripts using the Miden virtual machine (VM) and programming languages like Rust.
According to the roadmap, a builders testnet for Miden is scheduled for September, although there is no mention of a mainnet launch timeframe.
Miden now faces direct competition in the market from StarkWare’s layer-2 scaling network and rollup tech stack StarkNet, as well as other alternatives like Matter Labs’ zkSync Era.
In addition to Miden, Polygon also develops zkEVM, a scaling solution that is equivalent to the Ethereum Virtual Machine. This allows most existing smart contracts, tools, and wallets to seamlessly function on the platform.
Despite the launch of the Miden testnet, Polygon’s native token, MATIC, did not experience a significant reaction, falling 3.7% on the day to trade at $0.704 at the time of writing.
In an interview, the founder of Polygon Miden emphasized that ZK-rollups are considered the “endgame” for scaling blockchains, highlighting the potential of Miden in the market.