EY Integrates Polygon to Scale Its Products on Ethereum
On Sep 14, 2021
EY integrates Polygon to scale its products on the Ethereum blockchain. It enables corporate customers to conduct transactions on Ethereum.
As blockchain solutions become prevalent, businesses and corporate clients are interested in benefitting the advantages of those technologies. The traditional methods are not convenient to use or they are outdated and need to be altered to catch up with the technological revolution. Blockchains such as Ethereum can help enterprises to store their data or transaction records. Once data is stored on the blockchain, it cannot be altered or manipulated. If we consider additional benefits, this technology paves the new way in data recording.
EY Integrates Polygon Protocol
One of the Big 4 Consulting companies, Ernst & Young, announces the integration of Polygon protocol and framework to scale up the blockchain solution on the Ethereum blockchain. With the rising demand for the Ethereum blockchain, transaction costs and time have increased. To lower time and costs, 2nd layer solutions are required, and Polygon was chosen by the EY to solve this issue.
EY integrated Polygon to its blockchain-based services, including EY OpsChain and EY Blockchain Analyzer. With the implementation, companies can set up their operations to Polygon with the simple adjusting configurations on blockchain.ey.com. Besides integrating Polygon to EY’s blockchain services, EY is with working Polygon to establish a permissioned, private industry chain that utilizes new models for transaction verification which serves to speed up and lower the costs for the transaction.
Global Blockchain Leader at EY, Paul Brody, expressed his opinion on this partnership as follows:
“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.”
Co-founder of Polygon, Sandeep Nailwal, on the partnership:
“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.”
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