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Polygon Labs Acquires Toposware to Advance ZK Technology
Polygon Labs has made a significant move by acquiring Toposware, a blockchain research and engineering company. The main goal behind this acquisition is to lead the next wave of ZK (Zero-Knowledge) technology. By joining forces with Polygon Labs, Toposware aims to drive the entire ZK community forward. This collaboration follows the recent announcement of the Type 1 ZKEVM prover by the two companies.
The integration of Toposware into Polygon Labs will have a broad impact on various aspects of the company. This includes the enhancement of AggLayer, Polygon zkEVM, and Polygon CDK. Additionally, there are plans to incorporate Polygon POS, pending community approval. Toposware brings valuable knowledge, ZK talent, and engineering expertise to the table, which will significantly contribute to advancing Polygon’s mission.
Over the years, Polygon has established itself as an expert in ZK research, successfully translating theories into practical solutions. The collaboration with Toposware is expected to take this progress even further. In their official statement, Polygon expressed their enthusiasm for working with Toposware and leveraging their insights into the ZK space.
Positive Impact on MATIC Token
The announcement of the acquisition has had a positive impact on MATIC, the native token of Polygon. Over the last 24 hours, MATIC has seen a 2.31% increase in value, currently trading at $0.7181. However, the token’s value has experienced a slight decrease of 1.66% and 0.87% over the last 7 and 30 days, respectively. There has been a noticeable uptick in market cap, with a 1.34% increase in the 24-hour trading volume.
This development comes on the heels of Polygon Labs sharing insights into how Succinct’s SP1 will enhance performant and cross-chain interoperability for AggLayer. Built on Polygon Plonky 3, SP1 serves as a leading zkEVM solution, generating pessimistic proofs for AggLayer to ensure network aggregation.
Polygon’s Ambition to Surpass Ethereum
There is a growing sentiment that Polygon’s ultimate goal is to outperform Ethereum. Anurag Arjun, Co-Founder of Polygon and Avail, has downplayed these claims. He clarified that Polygon’s primary focus has been on building the first zkEVM rollups on Ethereum, not on competing with the platform. Initially conceived as a plasma solution, Polygon evolved to address Ethereum’s scaling challenges.
Reflecting on Plasma’s limited impact, Arjun emphasized its infeasibility at the time. The acquisition of Toposware has reportedly cost Polygon Labs around $1 billion, marking its third major deal following agreements with Hermez and Mir in 2021.
A spokesperson from Polygon highlighted their commitment to advancing ZK technology, as it simplifies tasks for developers and users alike. The acquisition has further solidified MATIC’s position as one of the top emerging cryptocurrencies in 2024, alongside AVAX.
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