Major multinational professional services company Ernst & Young (EY) announced the adoption of the Polygon protocol for the deployment of its blockchains to provide faster transactions and lower costs for its enterprise clients who transact on the Ethereum mainnet.
EY Clients Can Now Access Polygon Network
The “Big Four” consulting firm stated in the press release from earlier this week that it has integrated its flagship blockchain services such as EY Blockchain Analyzer and EY OpsChain into Polygon’s permissionless commit chain, making it easier for clients to access the latter’s network.
Increased transactions happening on the Ethereum network have led to congestion and higher costs. Meanwhile, EY believes that connecting to Polygon’s commit chain solutions will provide the company’s enterprise clients with “increased transaction volumes with predictable costs and settlement times.”
Commenting on the latest development was EY’s Global Blockchain leader, Paul Brody, who said:
“Working with Polygon provides EY teams with a powerful set of tools to scale transactions for clients and offers a faster roadmap to integration on the public Ethereum mainnet. We discovered our shared priorities around open system and networks and the Ethereum ecosystem would make collaboration in this area much easier.”
Polygon co-founder Sandeep Nailwal also made a statement, saying:
“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.”
Also, both EY and Polygon are working towards developing “permissioned, private industry chains” that would utilize Optimistic rollups, which enable cheaper transactions and robust efficiency.
More Partnerships for Polygon
Polygon, a layer-2 scaling solution for Ethereum, continues to be one of the widely adopted blockchains. In July, US-based cryptocurrency exchange giant Coinbase connected its wallet mobile app to the Polygon network.
Formerly known as Matic Network, the protocol was rebranded to become Polygon back in February 2021. Later in June, the Ethereum scaling solution announced that it was planning to launch an all-purpose blockchain network for standalone chains, sidechains, and other Layer-2 solutions, called Avail.