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Ernst & Young (EY) has announced its collaboration with Polygon, a full-stack Ethereum scaling solution.
EY, a global professional services firm, will join Polygon in building and implementing scaling solutions for the Ethereum network. In addition, EY will launch its flagship blockchain products on Polygon and co-develop new Polygon-based blockchains for enterprise use.
In a press release, EY said that it has connected the Polygon public, permissionless commit chain into EY flagship blockchain services including EY OpsChain and EY Blockchain Analyzer. EY clients can connect their business operations into Polygon networks with just a simple configuration change on blockchain.ey.com. The main Polygon systems network and the main Polygon test and development network are now both directly accessible from blockchain.ey.com.
In addition to integrating the main Polygon commit chain into blockchain.ey.com, the EY organization is working with Polygon to create permissioned, private industry chains leveraging new models for handling transaction verification to increase efficiency and reduce transaction costs known as an optimistic rollup1. These industry chains would offer enterprises the comfort and security of a closed system but retain the close alignment with the public Ethereum mainnet that would make a future transition to public networks faster and lower risk.
“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,” said Paul Brody, EY Global Blockchain Leader. “We discovered our shared priorities around open system and networks and the Ethereum ecosystem would make collaboration in this area much easier.”
Sandeep Nailwal, Co-founder, Polygon, said that 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,” said Nailwal.