Polygon launches Nightfall, a new technical solution based on Zero-Knowledge Proof (ZKP) and Optimistic Rollups, a layer 2 solution for Ethereum. This was announced by Antoni Martin, Polygon’s Head of Enterprise, as part of a speech at the 2022 EY Global Blockchain Summit.
Using ZKP and Optimistic Rollups, the Nightfall solution is highly scalable and has increased privacy. Nightfall’s basic feature is to reduce the commission costs of using ERC-20, ERC-721, and ERC-1155 tokens for enterprise customers. In addition, the technology can be used in supply chain management, NFT transactions, and blockchain mixers.
Ernst & Young (EY), one of the largest international consulting firms, was actively involved in the development of Nightfall. Development has been underway since 2019, aiming to allow EY clients to use Ethereum privately. However, in September 2021, the company saw a need to reduce Ethereum’s commission fees and turned to Polygon for help.
The Nightfall technology is already used in EY Blockchain Analyzer and OpsChain ESG. The latter is a joint project between Ernst & Young and Polygon. It allows large enterprises to track their supply chains and manage their carbon footprint following ESG principles.