Polygon, a leading Ethereum layer-2 developer, has unveiled the alpha version testnet of its latest zero-knowledge (ZK)-rollup solution called Miden. This new solution aims to enhance the capabilities of the Ethereum blockchain by utilizing client-side proving, a cryptographic technique that allows data to be verified without revealing its contents to the network. This approach not only reduces network load but also enhances privacy and scalability. Miden introduces new features such as private accounts supporting private tokens and transactions, as well as parallel transaction execution for higher throughput and reduced blockchain node state bloat.
The Miden Alpha Testnet zero-knowledge is now live, allowing developers to begin testing the new solution. One of the key features of Miden is client-side proving, which enables users to generate proofs for their own state transitions locally without disclosing the state to the network. This unique approach is designed to improve privacy scaling and reduce the burden on the network. The roadmap for Miden includes a builders testnet scheduled for September, with no specific timeframe mentioned for the mainnet launch. Miden will compete directly with other layer-2 scaling solutions like StarkWare’s StarkNet and Matter Labs’ zkSync Era, as well as Polygon’s own zkEVM.
Despite the launch of the Miden testnet, the native token of the Polygon blockchain did not experience a significant reaction in the market, falling by 5% to trade at $0.704. In a statement last month, Polygon Labs CEO Marc Boiron criticized Layer 3 (L3) networks on the Ethereum blockchain, claiming they are unnecessary for scaling the network and only serve to drain value from the mainnet. Boiron expressed skepticism about L3 networks, arguing that they exist only to redirect value from Ethereum to the L2 networks on which they are built. The L3 ecosystem includes solutions from L2 networks such as Orbs, Xai, zkSync Hyperchains, and Degen Chain on Arbitrum Orbit.
Polygon’s Proof-of-Stake (PoS) sidechain recently executed the Napoli hard fork, adding support for Dencun features and becoming the first network to support RIP-7212. Additionally, EIP-1153 aims to improve block space utilization and optimize network performance. Miden’s entry into the market represents another option for developers and users seeking scalable solutions on the Ethereum blockchain. With its focus on client-side proving and innovative features like private accounts and parallel transaction execution, Miden aims to address key challenges in scalability, privacy, and network load while competing with existing layer-2 scaling technologies. The future development and adoption of Miden will be closely watched as the Ethereum ecosystem continues to evolve.
