Cointime

Download App
iOS & Android

Polygon Miden: Ethereum, Extended.

Validated Project

Polygon Miden, a ZK-optimized rollup with client-side proving, will complement Polygon’s set of zero-knowledge solutions aiming to become the internet's value layer.

This post is the first in a series meant to introduce Polygon Miden, the motivations behind its design, and the one-of-a-kind features it offers. Over the coming months leading up to the public testnet, Polygon Labs will describe Polygon Miden’s architecture and features in great detail. For this post, the focus is on an overview of the goals and the architecture designed to achieve them.

Goal: Extend Ethereum’s feature set

With Polygon Miden, we aim to extend Ethereum's feature set. Ethereum is designed to be a base layer that evolves slowly and provides stability. Rollups allow the creation of new design spaces while retaining the security of Ethereum. This makes a rollup the perfect place to innovate and enable new functionality.

Unlike many other rollups, Polygon Miden prioritizes ZK-friendliness over EVM compatibility. It also uses a novel state model to exploit the full power of a ZK-centric design. These design decisions allow developers to create applications that are currently difficult or impractical to build on account-based systems.

We extend Ethereum on three core dimensions to attract billions of users: scalability, safety, and privacy.

Scalability

To achieve ultimate scalability, we radically change how blockchains are designed. Polygon Miden changes the paradigm that everything in a blockchain must be transparent to be verifiable.

Blockchains verify by re-executing. Re-executing requires transparency and processing power. Verification by re-execution slows blockchains down. Zero-knowledge proofs offer the possibility to verify without re-execution. Zero-knowledge verification doesn’t need transparency or processing power. In Polygon Miden, users can generate their own proofs, and the network verifies them.

This is the most important change in Polygon Miden. Users can execute smart contracts locally. Specifically, for anything that doesn’t touch the public state, users can execute smart contracts on their devices and then send ZK proofs to the network. The operators can then verify these ZK proofs exponentially faster than executing the original transactions and update the state accordingly.

Not only does this reduce the computational burden on the operators, but it also makes such transactions inherently parallelizable. Even more exciting is that it lifts the limits on what can go into a smart contract. For example, anything that a user can execute and prove locally - no matter how complex - can be processed by the network with minimal costs. On Miden, it will be cheap to run even complex computations.

Another important change in Polygon Miden is ensuring that most transactions do not need to touch the public state. We achieve this by making all interactions between smart contracts asynchronous. With Polygon Miden, token transfers, NFT swaps, and many others do not need to touch the public state. For actions that change the public state, Polygon Miden does allow regular network execution of transactions (same as most other blockchains). Still, because of the asynchronous execution model, interactions between locally executed transactions and network transactions are done seamlessly.

Safety

Assets need to be safe and easy to handle. No one should lose their tokens when losing a key or sending them to the wrong address. Polygon Miden’s approach aims to reduce the risks of using crypto on multiple fronts.

First, every account on Polygon Miden is a smart contract. This is frequently referred to as account abstraction. This enables developers building on Polygon Miden to create safer user wallets with features like social recovery of keys, rate-limiting spending tokens, transaction risk analysis, etc.

Next, because of Polygon Miden’s asynchronous execution model, it is possible to create recallable transactions, which mitigate the risk of sending funds to a non-existent address. This provides a safer environment for users.

Another change that increases safety is that in Miden, fungible and non-fungible assets are stored locally in accounts (rather than in global token contracts). This makes exploiting potential bugs more difficult, as every account needs to be attacked individually.

Speaking of bugs, to make smart contract development safer, Polygon Miden aims to support modern smart contract languages such as Move and Sway. These languages were designed with an emphasis on safety and correctness and incorporated years of experience and features from other safe languages, such as Rust, in their design.

Privacy

Lastly, absolute transparency is one of the main drawbacks of blockchains. The ability to transact in private is a fundamental right and a practical necessity. And thus, we put privacy at the core of Polygon Miden’s design.

But we go beyond simple private transactions: Polygon Miden’s architecture enables expressive private smart contracts. These are almost exactly the same as regular smart contracts but are executed locally so that the user does not reveal its code, state, and interaction graph to the network. And the coolest part is that private smart contracts can interact seamlessly with public smart contracts. So, for example, private rate-limited wallets can make calls to public DEXs. Businesses and financial institutions can build and execute their business logic on Miden. They would keep information hidden from competitors but visible to auditors.

Another important point regarding privacy is that users should not have to pay extra for it. In Polygon Miden’s design, private smart contracts impose minimal burden on the network (much smaller than public smart contracts), so on Polygon Miden, it is cheaper to remain private.

We understand that privacy is a complex area in the public domain. Privacy is a complex subject requiring careful study and consideration. We plan to enable privacy on Polygon Miden in stages. Initially, users can maintain privacy from other users but not from the operators (similar to Web2 privacy). This will give us time to figure out how to enable stronger levels of privacy without opening floodgates to potential abuses.

Architecture: Actor-based model with concurrent off-chain state

Polygon Miden’s architecture departs considerably from typical blockchain designs to support the above mentioned features. In future blog posts, we will cover this in much more detail, but two foundational aspects are worth covering even now.

Actor-base execution model

The actor model inspires Polygon Miden’s execution model. This is a well-known design paradigm in concurrent systems. In the actor model, actors are state machines responsible for maintaining their own state. In the context of Polygon Miden, each account is an actor. Actors communicate with each other by exchanging messages asynchronously. One actor can send a message to another, but it is up to the recipient to apply the requested change to their state.

Polygon Miden’s architecture takes the actor model further and combines it with zero-knowledge proofs. Now, actors not only maintain and update their own state, but they can also prove the validity of their own state transitions to the rest of the network. This ability to independently prove state transitions enables local smart contract execution, private smart contracts, and much more. And it is quite unique in the rollup space. Normally only centralized entities - sequencer or prover - create zero-knowledge proofs, not the users.

Hybrid state model

The actor-based execution model requires a radically different approach to recording the system's state. Actors and the messages they exchange must be treated as first-class citizens. Polygon Miden addresses this by combining the state models of account-based systems like Ethereum and UTXO-based systems like Bitcoin and Zcash.

Additionally, Polygon Miden accounts can live either on-chain or off-chain. For on-chain accounts, the full account state is always recorded on-chain (meaning on Polygon Miden). For off-chain accounts, only the commitment to the account state (i.e., state hash) is recorded on-chain. This is possible because, as described before, in the actor-based model, users can apply updates to their accounts locally and then send a zero-knowledge proof to the network attesting that the commitment to the account state was updated correctly. The network can verify the correctness of the transition without knowing the details of an off-chain account’s state.

Having on-chain and off-chain account data combined with the ability to prove state changes locally or by the network leaves us with flexible transaction modes.

At DevCon 6, in Bogotá, Colombia, Polygon Miden co-founder Bobbin Threadbare spoke about flexible transaction modes and how our state model is designed to build a decentralized scalable rollup.

Paradigm Shifts

Polygon Miden aims to unlock new use cases and applications. The prevailing idea is that everything in a blockchain must be transparent to be verifiable. But in Polygon Miden, actors can prove correctness and don’t need to be transparent.

Polygon Miden combines core concepts of Ethereum, Bitcoin, and modern concurrent databases, all powered by the trustless security of ZK proofs. What will emerge are the dimensions of an elastic, general-purpose ZK rollup that is optimized for high-throughput, computation-heavy applications where privacy is also a priority.

Our architectural foundations are set to enable enormous throughput, low fees and privacy in future iterations. However, like all rollups, we will start with training wheels. We will communicate our roadmap soon.

Read more: https://polygon.technology/blog/polygon-miden-ethereum-extended

Comments

All Comments

Recommended for you

  • Blast DEX Thruster receives $7.5 million in seed round funding

    The decentralized trading protocol Thruster based on Blast raised $7.5 million in seed funding led by Pantera Capital, bringing Thruster's valuation to $70 million. Angel investors include Santiago Santos, Frax founder Sam Kazemian, Pendle founder TN Lee, Stacked founder Alex Lin, Renzo founder Kratik Lodha, and Axelar founder Georgios Vlachos also participated in this round of funding.

  • Hong Kong Treasury Secretary: Will submit a draft bill on stablecoin and virtual asset over-the-counter trading services to the Legislative Council

    According to a report by Caixin, Hong Kong Financial Secretary Paul Chan Mo-po introduced the expenditure budget and work focus for the fiscal year 2024-25, stating that a variety of central bank digital currency cross-border networks (mBridge) are expected to be launched this year, with the first phase of services focusing on settling cross-border transactions for enterprises using various central bank digital currencies. In addition, the "digital renminbi" will also expand its pilot scope in Hong Kong, further improving cross-border payment efficiency and user experience. In terms of virtual assets, the government is promoting a series of measures to strengthen regulation and promote the stable and responsible development of the virtual asset market in Hong Kong. Specifically, the Hong Kong Monetary Authority launched a stablecoin sandbox in March this year, allowing institutions interested in issuing stablecoins to conduct testing within a controlled range. The government has also consulted the public on the regulation of fiat-backed stablecoin issuers and virtual asset over-the-counter trading services, and is considering the feedback received. Depending on the progress of preparatory work, the draft legislation will be submitted to the Legislative Council as soon as possible.

  • Three men and women arrested for laundering more than 1.8 billion yuan from virtual currency trading platforms and bank accounts

    Hong Kong Customs broke up a money laundering syndicate and arrested three local suspects who are suspected of using virtual currency trading platforms and multiple local bank accounts opened by companies to process over 1.8 billion yuan of funds with unknown sources. Customs officials targeted the three suspects based on intelligence and launched a wealth investigation, discovering that the three individuals conducted over 1,000 suspicious transactions between June 2021 and July 2022 through the opening of multiple local companies and bank accounts, including the transfer of funds from virtual currency trading platforms, involving more than 1.8 billion yuan.

  • BTC halving countdown only 1 day left

    According to Ouke Cloud Chain data, there is only 1 day and 17 hours left until the BTC halving countdown, which is expected to occur on 2024/04/20. The current block reward is 6.25 BTC, and after the halving, the block reward will be 3.125 BTC. There are currently 253 remaining blocks, the current network hashrate is 587.96 EH/s, the network mining difficulty is 83.95 T, and the average block time is 9.94 min.

  • The total open interest of BTC options is $21.24 billion, and the open interest of ETH options is $9.42 billion.

    According to Coinglass data, the nominal value of open BTC option positions on the entire network is $21.24 billion, and the nominal value of open ETH option positions is $9.42 billion.

  • CZ launches testnet course on Giggle Academy

    CZ, the former CEO of Binance, announced the test network course of the recently launched education project Giggle Academy. CZ shared a video clip on his X account, which involved a course in an installable Android software package (Apk).

  • After the Bitcoin halving, new mining output will be reduced from 900 to 450 per day

    According to HODL15Capital's monitoring, after the halving of Bitcoin, its newly mined output will be reduced from 900 coins per day to 450 coins per day. Based on the current price, purchasing all of these new outputs would cost approximately $28 million.

  • BTC breaks through $62,000, and the intraday decline narrows to 2.96%

    According to market data, BTC has broken through $62,000 and is currently trading at $62,008.36. The intraday decline has narrowed to 2.96%, and the market is experiencing large fluctuations, so please be prepared for risk control.

  • Tether issued USDT worth $437 million yesterday

    Tether issued $437 million worth of USDT on April 17 and redeemed $142 million worth of USDT (a net increase of 295 million USDT in circulation). Approximately $100 million worth of USDT was issued to an address starting with 0x5c (suspected to be a Bitfinex forwarding address), and approximately $81 million worth of USDT was issued to an address starting with 0x77 (suspected to be Bitfinex wallet address 1).

  • Ordinals founder confirms that the Runes protocol only hard-codes rune number 0

    On April 18th, Casey Rodarmor, the founder of Ordinals, stated during a Discord community meeting that the Runes protocol only hardcodes the 0th rune, which is "UNCOMMON•GOODS". The other nine token names are not hardcoded into the Runes protocol due to a lack of good ideas. According to Casey's previous plan, the Runes protocol will hardcode the first 10 runes, which are numbered 0-9.