Quick take:
- Polygon and Toposware previously collaborated to develop a Type 1 Prover, which allows Ethereum-compatible platforms to easily adopt zk proofs.
- This acquisition aligns well with Polygon’s goal of building a portfolio of zero-knowledge rollup tools through AggLayer.
- Although no acquisition value was provided, Toposware was last valued at about AUD31-46m in November 2023 according to Dealroom.
Polygon has announced the acquisition of zero-knowledge research and engineering firm Toposware. The acquisition comes as Polygon advances its zero-knowledge rollups-focused strategy.
This is the Ethereum scaling L2’s third zk-rollup startup acquisition over the past three years. The two companies have been working on a Type 1 Prover, which allows Ethereum-based blockchains to easily adopt zero-knowledge proofs.
The acquisition will see Toposwares team of 11 engineers integrated into Polygon’s zero-knowledge research and development teams.
According to Polygon co-founder and executive chairman Sandeep Nailwal, who recently took on the role of Chief Business Officer his company committed $1 billion to Zero-Knowledge-related investments in 2021.
In August 2021, Polygon acquired zero-knowledge scaling technology developer Hermez Network for $250 million, before adding another ZK startup Mir in a $400 million deal.
Although based on the amount committed to ZK-related projects versus what has already been spent in acquisitions leaves a lot more available for spending, a Polygon spokesperson told Cointelegraph that the company has no other deals planned at the moment.
Zero-knowledge proofs allow blockchain protocols to exchange information without compromising user privacy. The technology now not only secures user data but also brings the highly-needed scalability for the mass adoption of users.
Blockchain gaming platforms, NFT-powered loyalty programs, the metaverse and real-world asset tokenisation (RWA) platforms are some of the verticals where zero-knowledge technology is used.
For instance, Polygon partnered with Immutable to launch the Immutable zkEVM, a Web3 gaming platform powered by zero-knowledge proofs.
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