EY and Polygon announced the development of a new Ethereum scaling solution for enterprises and a privacy-focused Rollup. The new scaling solution will help enterprises on Ethereum find access to tools and features that help them serve more customers.
Scaling is the keyword in the Polygon ecosystem, and with the new tools in collaboration with EY, it can host more enterprise users. Polygon Nightfall is another result of the new partnership. Besides, EY will launch new blockchain products on Polygon, too.
Helping Big Companies on Blockchain
Blockchain for enterprises isn’t a new thing anymore. More and more companies are deploying blockchain solutions in their organizations for numerous use-cases. Data management, governance, and even developing dApps are some of the use-cases for companies on blockchain.
Many of them use Ethereum as the primary network but face some problems due to the limitations of scaling and network congestion on this blockchain. Polygon has shown its capabilities in scaling Ethereum-based services and products and is now going to solve the issues for enterprises, too.
The new partnership between EY and Polygon community results in building and implementing scaling and enterprise solutions. Besides, the two teams will work together to develop and deploy Polygon Nightfall. It’s a public, privacy-focused Rollup, developed initially in 2019 by EY. In a nutshell, Nightfall makes it possible to have private transactions on Ethereum and will now make it possible on Polygon, too. The new version is called Nightfall 3 or Polygon Nightfall.
The new Nightfall by EY is focused on enterprises that need scalable and fast solutions. It focuses on privacy that is a fundamental need for companies. With the help of Polygon, it can now serve companies faster and more efficiently. It will add to current solutions on Polygon like Polygon Hermez, Polygon SDK, and Polygon Avail.
As mentioned above, the partnership between Polygon and EY isn’t limited to Nightfall. According to the announcement:
“Additionally, EY will work with Polygon to create privacy-focused enterprise chains as part of the Polygon ecosystem. These “industry chains” will be built using the aforementioned Nightfall 3 and will offer enterprises the comfort and security of a closed system while maintaining flexibility with the public Ethereum mainnet, making future transitions to public networks faster.”
Transaction costs and slow speed are becoming major problems for products on Ethereum. Especially, enterprise solutions need to solve these challenges faster to be able to serve users easier. Polygon is among the top solutions for these problems. The EVM-compatible blockchain has numerous capabilities and is now focusing on Enterprises in partnerships with companies like EY.
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