EY selects Polygon to scale its enterprise blockchain products on Ethereum

EY OpsChain and EY Blockchain Anazer are top-of the-line services that use blockchain technology. This will enable transactions to Ethereum via sidechain.

EY stated that enterprise clients will have access to increased transaction throughput, predictable costs, and quicker settlement times via Polygon.

Polygon has also partnered with the firm in order to offer private, optimistic rollup chain. Rollups are a second-layer scaling solution that provides more security and efficiency than transactions on the Ethereum mainnet. Paul Brody, EY Global Blockchain Leader, remarked:

Ernst & Young (EY), one of the ‘Big Four’ multinational consulting companies, will connect its blockchain solutions to Polygon to lower the scalability limits of Ethereum’s mainnet.

“Working with Polygon provides EY teams with a powerful set of transactions to scale for clients and a faster roadmap toward integration on the public Ethereum Mainnet.”

Sandeep Nailwal was co-founder and CEO of Polygon. He praised EY for their support of the Ethereum ecosystem.

EY continues to enhance Nightfall’s layer-2 zero-knowledge protocol Nightfall. EY was also involved in the March 2020 launch of the open-source Baseline Protocol.

In recent months, Ethereum scaling solutions have seen a rise in demand due to the high fees involved in transacting on its mainnet. The total value locked (TVL) on the Polygon network has increased from $1 billion at April’s start to $8.5 million today.

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Charles Griffin

Charles Griffin – Business and Transportation I am Charles Griffin with more than 10 years of experience in the Stock market industry, I am energetic about Finance and Business news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of Magnewspress.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Business News category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.  

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