Miden, a protocol focusing on privacy and fast transaction speeds for large institutions, has successfully spun out from Polygon, raising $25 million in a seed funding round led by a16z crypto, 1kx, and Hack VC. The funds will be utilized to proceed with Miden's roadmap, including expanding its ecosystem and enhancing developer tooling. Miden's design employs zero-knowledge technology, catering to institutions needing transaction confidentiality, such as facilitating large payment batches without impacting public stock prices due to misunderstandings. The spin-off reflects Polygon's transition of focus towards its AggLayer amidst a decrease in total value locked within its networks, now standing at $864 million, down 80% from its peak. Polygon Labs founder, Sandeep Nailwal, expressed optimism about Miden, labeling it a blueprint for the future of blockchain architecture.

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