Ernst & Young picks Polygon to scale its blockchain products

Polygon, the so-called ‘Ethereum’s Internet of Blockchains’ intends to create a multi-chain ecosystem of Ethereum compatible blockchains. In fact, it has seen a significant amount of traction within, as well as outside the crypto-sphere.

Polygon’s immeasurable growth has been partly because of the surge in popularity of the Ethereum network and the adoption of its blockchain. Faster and cheaper transactions facilitated by Polygon’s sidechain architecture aided the network in collaborating with different multinational firms across the globe.

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. “

It added,

“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.”

Additionally, this partnership (with Polygon) will offer permissioned, private optimistic rollup chains. Ergo, providing comfort and security of a closed system. It will also, however, retain the “close alignment with the public Ethereum mainnet that would make a future transition to public networks faster and lower risk.”

Community reactions

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.

For instance, PolkaBridge recently integrated with Polygon full-stack scaling solution to ensure wide compatibility and offer products to diverse communities.

🥳 We are happy to announce that PolkaBridge Integrates With Polygon – Full Stack Scaling Solution
✅ Quickswap https://t.co/FPPIBtEqAv

How to bridge from Ethereum to Polygon, How to join staking on Polygon ?
✅ Detail https://t.co/jycHPH2IoA

— PolkaBridge (@realpolkabridge) September 7, 2021

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Shubham is a full-time journalist at AMBCrypto. A Master’s graduate in Accounting and Finance, Shubham’s writings mainly focus on crypto-regulations across the United States and Europe. Also, a die-hard Chelsea fan #KTBFFH.

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