Polygon Labs announced the acquisition of Toposware. The goal is to pioneer the next wave of ZK technology. The blockchain research and engineering company has joined forces with Polygon Labs to advance the entire ZK community. This builds on our previous development where we released the Type 1 ZKEVM prover.
Integrations span multiple aspects of Polygon Labs. This includes AggLayer, Polygon zkEVM, and Polygon CDK. It will also likely include Polygon POS, which is currently awaiting a community approval vote. Toposware combines knowledge, ZK talent, and engineering with collaboration. This will help advance Polygon’s mission.
Polygon has brought expertise to advance ZK research over many years. We have practically translated theory into practice, i.e. reality, and are willing to stay one step ahead of the sector. In the announcement, Polygon said it was excited to work with Toposware, which provides insight into the team and the ZK space.
This announcement was effective for Polygon’s native token, MATIC. It is up 2.31% in the last 24 hours and is listed at $0.7181 at press time. However, it fell 1.66% and 0.87% over the last 7 and 30 days, respectively. The rise in market capitalization is noticeable, with 24-hour trading volume increasing by 1.34%.
This development comes after Polygon Labs shared insights into how Succinct’s SP1 will help drive AggLayer’s performance and cross-chain interoperability. SP1 is built using Polygon Plonky 3, the leading zkEVM solution. This is used to create pessimistic proofs to ensure that the AggLayer aggregates the network.
This further fueled Polygon’s intention to ultimately beat Ethereum. Anurag Arjun downplayed these claims. He is a co-founder of Polygon and Avail. Anurag said this was never the intention, adding that all Polygon did was build the first zkEVM rollup on Ethereum.
Arjun concluded that Polygon was initially built on the premise that it would be a Plasma solution, and its main motivation was simply to build a scaling solution for Ethereum.
As for plasma failing to leave a lasting impact, he said it wasn’t feasible at the time.
To acquire Toposware, Polygon Labs is estimated to have spent approximately $1 billion on zero-knowledge technology. This is Polygon Labs’ third transaction. Previously, contracts were signed with Hermez and Mir in 2021.
A Polygon spokesperson said the company is focused on advancing ZK technology to make it easier for developers and users to do their jobs.
Interestingly, this development strengthens MATIC’s position in the market as one of the most emerging cryptocurrencies in 2024, along with AVAX.