Indian crypto startup Polygon buys Hermez for $250 mn; firms to merge tokens2 min read . Updated: 14 Aug 2021, 09:38 AM IST
- Polygon, formerly Matic Network, was co-founded in 2017 by three Indian software engineers — Jaynti Kanani, Sandeep Nailwal and Anurag Arjun
MUMBAI: In the first-ever merger of crypto tokens, Ethereum scaling project, Polygon, has announced that it will merge with Hermez, a zero-knowledge (ZK) cryptography-based scaling project in a $250 million deal. A zero-knowledge technology enables verifying data such as transactions and personal information or identification without handing over control of the information.
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