Polygon in a new deal has acquired Predictable labs in a deal worth $500M, the decision according to the company is in a bid to create a wider adoption for Ethereum.
Polygon, a crypto business, has recently made daring measures, in addition, to aggressively adopting the zk-technology. Polygon recently announced the acquisition of Predictable Labs, a startup firm, for a whopping $500 million.
The company’s recent decision is part of a larger plan to increase the Ethereum network’s capacity and pave the way for wider adoption.
Although Ethereum continues to lead the industry in terms of network usability, its hefty gas charge has proven to be a barrier to entry for new entrants.
About Predictable Labs
Predictable Labs is the creator of the Mir blockchain protocol, which includes zero-knowledge roll-up technology that can offload data from Ethereum to speed up transaction processing and lower fees.
The purchase is part of Polygon’s $1 billion Ethereum push, and it will add to the Ethereum Layer-2 solution’s key acquisitions. According to Bloomberg:
Mir will be integrated into the Polygon ecosystem under its new name, Polygon Zero, alongside existing solutions including Polygon PoS, Polygon Hermez and Polygon Miden.
The acquisition should help Polygon become a bigger player in so-called Layer 2 technologies, also called rollups, which effectively take transactions from Ethereum, compress them and post them back to the original chain for a fraction of time and cost. Rivals such as Arbitrum, Loopspring, Optimism and StarkWare are leading the shift to Layer 2.
