EY’s top-of-the-line blockchain services, including EY OpsChain, and EY Blockchain Anazer, will be integrated into Polygon. This will allow transactions to Ethereum via the sidechain.
EY stressed that enterprise clients will be able to access increased transaction throughput, predictable fees, and faster settlement times via Polygon.
Polygon is also working with the firm to provide private, optimistic rollup chains. Rollups provide a second-layer scaling solution which provides greater security and efficiency than transacting on Ethereum mainnet. Paul Brody, EY Global Blockchain Leader, remarked:
Ernst & Young (EY), one the ‘Big Four’ multinational consulting firms, will link its blockchain solutions with Polygon in order to reduce the scalability limitations of Ethereum’s mainnet.
“Working with Polygon gives EY teams a powerful set to scale transactions for clients, and provides a faster roadmap towards integration on the public Ethereum Mainnet.”
Sandeep Nailwal, co-founder of Polygon, praised EY’s commitment to the Ethereum ecosystem.
EY continues to improve Nightfall’s layer-two zero-knowledge protocol Nightfall. However, EY also assisted in the launch of the open-source Baseline Protocol on March 2020.
Related: EY publishes an Ethereum scaling solution for the public domain
Due to the high fees for transacting on the mainnet, demand has risen for Ethereum scaling solutions in recent months. The total value locked (TVL), on the Polygon network, has risen from $1 billion at April’s start to $8.5 billion today.