Polygon Miden: Core Architectural Concepts and Transaction Models
Polygon Miden: Core Architectural Concepts and Transaction Models
Polygon Miden is a novel ZK rollup optimized for privacy, parallelization, and client-side proving capabilities. The Miden Node, which has completed a test version, functions by exposing RPC endpoints, verifying user-generated proofs, producing blocks, and updating the state. Transactions in Miden facilitate account state changes and are performed against a single account, enabling parallel execution and asynchronicity. Users have the option to store data publicly or privately, as well as choose who generates the ZK proof. Off-chain storage and client-side proofs enhance privacy and scalability. Miden aims for absolute privacy while addressing the possibility of an experienced observer gaining information.
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This week, the researchers and engineers building Polygon Miden completed a test version of the node that will manage the state of the rollup. This is what the Miden Node does and how it functions for user-generated state transitions. The basic functions of this first version of
To achieve parallel execution in Polygon Miden, researchers had to look beyond account-based systems like Ethereum to UTXO-based systems like Bitcoin and Zcash. The end result is a transaction model distinct among ZK rollups.
In the latest installment of @AvailProject's whiteboard series, @bobbinth and @prabalbanerjee dive into core architectural concepts of Polygon Miden and the principles shaping the unique ZK rollup’s development. Full episode here: youtu.be/QuLhkaszLtA Polygon Miden,
The state model in Polygon Miden gives users the option to store their account and note data in two ways: 1. Public and on-chain 2. Private and off-chain These options create different degrees of privacy. With public storage, the data is on-chain and visible to everyone.
Polygon Labs Executive Discusses Stablecoin Standards and Regulation
Polygon Labs' Head of Payments & Liquidity addresses key concerns in the stablecoin sector: - Focus on operational activity and risk management - Emphasis on issuer compliance with safety standards - Key requirements include: * Adequate reserves * Transparency measures * Security protocols * Consumer protection frameworks This aligns with Japan's regulatory approach, which scrutinizes asset backing of stablecoins. The discussion highlights growing attention to stablecoin oversight and issuer accountability in global markets.
Reliance Jio Partners with Polygon to Bring Web3 to 450M Indian Users
Reliance Jio, India's largest telecom company, is integrating blockchain capabilities through Polygon PoS to enhance existing services for its 450 million users. Key developments: - Native wallet integration in JioBrowser for user rewards - JioBrowser reached #1 on App Store and Play Store in India - Focus on customer loyalty and engagement through blockchain - Partnership aims to bring digital public goods to mass market The collaboration represents a significant step toward enterprise web3 adoption in India, demonstrating how blockchain technology can solve real-world problems at scale. [Learn more about the announcement](http://go.polygon.technology/4g0Eghi)
Polygon Network Shows Strong Growth Across Multiple Sectors
Polygon demonstrates robust growth in key areas: - Stablecoin velocity peaked at 4.5x PoS efficiency, with Cypher reaching $331.37k and MoonPay hitting $1.2M in volume - Ranks #2 in RWAs with $277.63M market share, second only to Ethereum - Notable project developments from Spiko Finance, FTDA, MercadoBitcoin, and Courtyard - GEODNET shows strong DePIN support with 7.72M GEOD staked 2024 Highlights: - Polymarket: 26.2M transactions, $8.8B volume - Gaming success: Matrix (4.7M downloads), Wilder World (Epic Store top 10) - Courtyard: 500k+ physical collectibles onchain - DEX volume approached $60B - Spiko Finance: $244M+ in tokenized Eurozone treasury bills
Compound Blue Expands on Polygon with New Vaults and Incentives
Compound Blue continues its expansion on Polygon with additional vaults and enhanced incentive programs. The platform now offers: - New vaults powered by Morpho technology - Increased incentives for both suppliers and borrowers - Integration with Gauntlet's curation system The expansion includes POL and COMP borrow-side incentives, marking a significant development in DeFi infrastructure on Polygon. These updates aim to improve liquidity and user participation across the platform.
GMT Pay Launches on Polygon, Enabling Real-World Purchases with STEPN Earnings
STEPN has officially launched GMT Pay on the Polygon network, allowing users to convert their earned GMT tokens directly into real-world purchases. This release follows the January 2023 waitlist announcement and marks a significant milestone in connecting move-to-earn rewards with practical utility. Key Features: - Direct conversion of GMT tokens to purchases - Built on Polygon network for efficiency - Integration with STEPN and STEPN GO platforms Users can now seamlessly transition from earning tokens through physical activity to using them for everyday transactions.