​​​​​​EY Selects Polygon to Extend Its Enterprise Blockchain Offerings to Ethereum

On Monday, EY announced that its flagship blockchain services will be integrated with Polygon, including EY OpsChain and EY Blockchain Analyzer, allowing transactions to be submitted to Ethereum via sidechains.

EY emphasized that its corporate clients will use Polygon to gain increased transaction throughput and predictable fees and settlement times.

The company also revealed that it is working with Polygon to offer a private, permissioned optimistic rollup chain. Rollup is a layer-two scaling solution that offers greater security and efficiency than transacting on the Ethereum mainnet.

Ernst & Young, one of the Big Four multinational consulting firms, connected its blockchain solution to Polygon to alleviate the scalability limitations of the Ethereum mainnet. EY Global Blockchain Leader Paul Brody said:

"Partnering with Polygon will provide the EY team with a robust set of tools to scale deals for clients, and will also provide a faster roadmap for integration onto the public Ethereum mainnet."

Polygon co-founder Sandeep Nailwal praised EY's commitment to the Ethereum ecosystem and open technical standards.

While EY continues to iterate on Nightfall, its layer-two zero-knowledge proof protocol, the firm also helped launch the open-source Baseline Protocol in March 2020.

Demand for ethereum scaling solutions has surged in recent months due to the high fees associated with conducting transactions on the mainnet. As a result, the Polygon network's total value locked (TVL) has soared from roughly $1 billion in early April to $8.5 billion today.

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