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Polygon, dubbed “Ethereum’s Internet of Blockchains,” aims to build a multi-chain ecosystem of Ethereum-compatible blockchains. In reality, it has gained enormous traction both within and outside of the crypto-sphere.
Polygon’s meteoric rise has been fueled in part by the rise in popularity of the Ethereum network and the adoption of its blockchain. Polygon’s sidechain architecture permitted faster and cheaper transactions, allowing the network to collaborate with many global corporations throughout the world.
Here’s the latest collaboration – A Big 4 is here
According to an official press release, one of the world’s largest consulting firms, Ernst & Young (EY), has partnered with Polygon to aid EY’s Ethereum scaling.
“The EY organization today announced it is using the Polygon protocol and framework to deploy EY blockchain solutions on the public Ethereum blockchain ecosystem.”
EY’s flagship blockchain services, including EY OpsChain and EY Blockchain Analyzer, will adopt Polygon’s commit chain scaling solutions. Meanwhile, its enterprise clients could connect their business operations into Polygon networks with a simple configuration change on blockchain.ey.com.
What’s the significance?
According to the aforementioned press release,
“As more enterprises adopt blockchain technology, transaction volumes and costs on the main public Ethereum blockchain have risen. “
“Adopting Polygon’s commit chain solutions allows the EY organization to offer enterprise users increased transaction volumes with predictable costs and settlement times and the option to move transactions onto the public Ethereum mainnet.”
Furthermore, this collaboration (with Polygon) will provide permissioned, private optimistic rollup chains. As a result, the comfort and security of a closed system are provided. It would, however, maintain its “close alignment with the public Ethereum mainnet, which would enable a future shift to public networks easier and less risky.”
Needless to say, community reactions were swift and positive. According to Sandeep Nailwal, Co-founder of Polygon, for instance,
“The EY commitment to the public Ethereum ecosystem and to open standards was a big driver in evolving shared approaches. No other organization has made the same scale of commitment to the ecosystem and to open systems, or brings the depth of technology that the EY organization has in this space.”
Polygon has been one of the most trending ecosystems within the blockchain domain. Various other platforms have merged with the flagship token’s ecosystem over the past few months.