EY selects Polygon to scale its enterprise blockchain products on Ethereum

By Clark

EY is group actioning its blockchain merchandise with Polygon to mitigate the high fees and congestion related to transacting on Ethereum mainnet for its enterprise purchasers.

Announced on Monday, EY’s flagship blockchain services as well as EY OpsChain and EY Blockchain analyser are going to be integrated with two-dimensional figure, permitting transactions to be committed to Ethereum via the sidechain.

EY stressed that its enterprise purchasers can have access to enlarged dealings outturn with inevitable fees and settlement times using Polygon.

The firm jointly disclosed its operating with Polygon to supply permission, personal optimistic rollup chains. Rollups are a second-layer scaling solution that gives enlarged security and potency compared to transacting on the Ethereum mainnet. Paul Brody, EY world Blockchain Leader, remarked:

Ernst & Young (EY), one among the ‘Big Four’ consulting multinationals, can connect its blockchain solutions to Polygon to mitigate the scalability constraints of Ethereum’s mainnet.

“Working with Polygon provides EY groups with a strong set of tools to scale transactions for purchasers and offers a quicker roadmap to integration on the general public Ethereum mainnet.”

Polygon co-founder Sandeep Nailwal praised EY for its commitment to the Ethereum scheme and open technology standards.

While EY has continued to repeat its layer-two zero-knowledge proof protocol hour, the firm jointly helped launch the open source Baseline Protocol in March 2020.

Demand for Ethereum scaling solutions has surged in recent months amid the persistently high fees related to transacting on mainnet. As such, the entire worth bolted (TVL) on the two-dimensional figure network has surged from roughly $1 billion at the beginning of April to $8.5 billion these days.