Ethereum scaling solution Polygon reportedly disclosed details of its initiative to invest an amount of up to 250 million MATIC tokens to a deal with zero-knowledge cryptography startup Mir.

Specifically, Mir reportedly functions as an entity focusing on building two subcategories of zero-knowledge proofs: PLONK and Halo. Both are representatives of innovations over previous SNARK and STARK cryptography techniques, making it possible for the issuance of proofs in a matter of seconds.

Zero-knowledge algorithms reportedly allow for external validators to complete the verification of encrypted transactions or documents, without disclosing the underlying sensitive data. 

It will have numerous use cases for complex DeFi applications, nominally decentralized ride-share apps, or decentralized health insurance, where it is required for nodes to complete the verification of personal information of blockchain participants without risking privacy leaks.

While a trusted setup is still a mandatory detail for PLONK to finalize verification, Halo algorithms have the ability to fulfill the task in a decentralized fashion. 

Speed is reportedly a core design consideration in zero-knowledge proofs. Complex information will go through blockchains, nominally redacted photo IDs, can be of sizable chunks, consequently causing impacts on the applicability of transactions.

“We have made a strategic decision to explore and encourage all meaningful scaling approaches and technologies at this stage. We believe this is the way to establish Polygon as the leading force and contributor in the ZK field and onboard the first billion users to Ethereum.” Sandeep Nailwal, the co-founder of Polygon, further remarked. 

The investment into Mir is reportedly included within the scope of a greater $1 billion commitment to grow zero-knowledge tech from Polygon.