EY selects Polygon to scale its enterprise blockchain merchandise on Ethereum
Announced on Monday, EY’s flagship blockchain providers together with EY OpsChain and EY Blockchain Analyzer will likely be built-in with Polygon, permitting transactions to be dedicated to Ethereum through the sidechain.
EY emphasised that its enterprise shoppers can have entry to elevated transaction throughput with predictable charges and settlement instances utilizing Polygon.
The agency additionally revealed it’s working with Polygon to supply permissioned, personal optimistic rollup chains. Rollups are a second-layer scaling resolution that gives elevated safety and effectivity in comparison with transacting on the Ethereum mainnet. Paul Brody, EY Global Blockchain Leader, remarked:
Ernst & Young (EY), one of many ‘Big Four’ consulting multinationals, will join its blockchain options to Polygon to mitigate the scalability constraints of Ethereum’s mainnet.
“Working with Polygon provides EY teams with a powerful set of tools to scale transactions for clients and offers a faster roadmap to integration on the public Ethereum mainnet.”
Polygon co-founder Sandeep Nailwal praised EY for its commitment to the Ethereum ecosystem and open technology standards.
While EY has continued to iterate its layer-two zero-knowledge proof protocol Nightfall, the firm also helped launch the open-source Baseline Protocol in March 2020.
Related: EY publishes an Ethereum scaling solution to the public domain
Demand for Ethereum scaling solutions has surged in recent months amid the persistently high fees associated with transacting on mainnet. As such, the total value locked (TVL) on the Polygon network has surged from roughly $1 billion at the start of April to $8.5 billion today.