What is Polygon Miden? Polygon Miden is a zero-knowledge compilation that runs on the Miden virtual machine (Miden VM). Polygon Miden prioritizes zk friendliness over EVM compatibility. Polygon Miden can offer features and benefits not available on Ethereum.
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Overview of Polygon Miden
What is Polygon Miden?
Polygon Miden is a zero-knowledge compilation that runs on the Miden virtual machine. Polygon Miden prioritizes zk technology friendliness over EVM compatibility.
Polygon Miden uses a new state model to harness the full power of a zk-centric design. These design decisions allow developers to create applications that overcome areas that are currently difficult and impractical on account-based systems.
Polygon Miden is aimed at builders interested in creating private, high-throughput dApps. Miden is a compilation where Builders can write and deploy custom smart contracts.
The range checking component in Miden VM is responsible for verifying that a given value is between 0 and 2^16. It is a core building block that allows Polygon Miden to provide efficient operations and is also needed to support random access memory.
Highlights of Polygon Miden
- Supports composable smart contracts through a secure language. This is necessary to support more secure wallets while participating in DeFi activities, DAOs, and many other use cases.
- Proof client side where users can perform local transactions and manually generate proof of transactions
- Perform concurrent transactions, where independent transactions can be processed in parallel.
- Privacy will include the ability to engage in private transactions as well as having privacy-preserving smart contracts.
- Native support for multiple assets, allowing fee payments in multiple asset classes.
Core Team
- Jaynti Kanani (Co-Founder): Graduated with a Bachelor of Engineering degree from Dharmsinh Desai University. He is a Blockchain Engineer and developer for Web3, Plasma, WalletConnect. Previously a data scientist at Housing.com.
- Sandeep Nailwal (Co-Founder): Sandeep earned a Master of Business Administration (MBA), Finance, Technology and Supply Chain Management from National Institute of Industrial Engineering. After graduating, Sandeep spent some time working at Deloitte, an auditing company. He is also a programmer. Formerly CEO of Scopeweaver, CTO of Welspun Group.
- Mihailo Bjelic (Co-Founder): Anurag graduated with a bachelor’s degree in Engineering and Computer Engineering from Nirma Institute of Technology. After graduating, Anurag held the position of Analyst Programmer at Cognizant Technology Solutions for more than 2 years. He previously held the position of Product Manager at Dexter Consultancy Pvt. Ltd and continued to hold this position at IRIS Business Services Limited. In addition, he is also a technology developer on Ethereum.
Investor
- April 2019: Pre Seed round raised $450K with the only investment fund being Coinbase Ventures.
- December 20, 2020: Funding round raised $1M from individual investor John Lilic.
- May 26, 2021: Funding round received investment from angel investor Mark Cuban.
- February 7, 2022: Funding round mobilized an impressive $450M from large investment funds. Led by Sequoia Capital India, there is also the participation of famous names such as Dragon Fly Capital, SoftBank, Galaxy, Tiger Global Management.
- June 13, 2022: Funding round with an undisclosed amount from Disney Accelerator.
Tokenomics
Information about MATIC Token
- Token Name: Polygon (Matic)
- Ticker: MATIC
- Blockchain: Ethereum, Polygon
- Token Standard: ERC-20
- Contract: 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0
- Total Supply: 10,000,000,000 MATIC
Token Allocation MATIC
- Ecosystem: 23.33% – Developing project ecosystem.
- Foundation: 21.86% – Foundation.
- Main Sale: 19% – Token Sale round.
- Team: 16% – Project development team.
- Advisor: 4% – Consulting team for the project.
- Seed Sale: 2.09% – Seed Round Token Sale.
- Early Supporter: 1.71% – Members who support the project in the early stages.
Token Release
Updated statistics until July 8, 2023
Token Use Case
MATIC is the network’s native cryptocurrency: used as fees for transactions and staking activities.
Exchanges
Users can buy and own Tokens on leading centralized exchanges such as: Binance, Coinbase, Huobi global, kucoin… And other decentralized exchanges.
Information Channel of Polygon ZkEVM
- Website: https://polygon.technology/polygon-miden
- Telegram: https://t.me/polygonofficial
- Twitter: https://twitter.com/0xPolygon
- Discord:
summary
Polygon Miden uses a new state model to harness the full power of a zk-centric design. These design decisions allow developers to create applications that overcome areas that are currently difficult and impractical on account-based systems.
As Polygon Miden looks towards launching its public testnet later this year, the focus is on development and improvements to Miden VM, the virtual machine based on the Rust programming language where ZK proofs are created.
