According to Blockworks, Polygon, a layer-2 scaling solution for Ethereum, has introduced its Miden Alpha Testnet. This zero-knowledge rollup solution is designed for private, high-throughput applications. Miden allows users to generate proofs for their state transitions without disclosing the state to the broader network. The network will only monitor commitments, enabling users to transact privately.
Miden will offer features such as the creation of private accounts and notes, while still allowing for the creation of public accounts and notes. The Miden client will also facilitate parallel transaction execution and client-side proving. Polygon stated that this would enable builders to design self-sovereign and high-throughput applications. With Miden's zk-powered rollup, builders can create what is currently not feasible on EVM-chains.
According to Polygon Miden documents, three different types of smart contracts are currently available on Miden. These include a basic wallet contract for sending and receiving tokens and assets, and fungible and non-fungible faucet smart contracts for minting and burning different assets.
However, Polygon Miden is not the only rollup solution aiming to innovate in the zk rollup space. Other competitors, such as StarkWare and Matter Labs, the team behind zkSync, are also looking to bring new possibilities to blockchain scaling.
Following the announcement of Miden, there has been minimal price movement. Polygon's native token, MATIC, is trading at $0.7153, a decrease of 0.9% over the past 24 hours, as per CoinGecko.
