Ethereum

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<ul>
 <li>Composability Labs is developing Spark, an on-chain CLOB that enhances DeFi trading on Polygon Miden by minimizing state storage.</li>
</ul>
<ul>
 <li>Polygon Miden uses zero-knowledge proofs to reduce state bloat, ensuring efficient and scalable blockchain operations.</li>
</ul>
Polygon Technology, in a <a href="https://polygon.technology/blog/miden-pioneers-composability-labs-is-building-spark-a-superfast-onchain-clob-with-a-state-minimized-approach?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=blog" rel="noopener noreferrer nofollow">recent blog,</a> stated that Composability Labs is advancing in the decentralized finance (DeFi) sector with Spark, a high-speed on-chain central limit order book (CLOB) that utilizes Polygon (MATIC) Miden’s state-minimization features. By integrating state minimization and zero-knowledge (ZK) proofs, Polygon Miden allows developers to build scalable, efficient, and secure solutions that extend Ethereum’s feature set.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 pioneer <a href="https://twitter.com/compolabs?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@compolabs</a> is building a superfast onchain clob with a state-minimized approach on polygon miden.
 with miden, composability labs reimagines blockchain design by baking in state minimization.
 making DeFi better with <a href="https://twitter.com/Sprkfi?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Sprkfi</a> order books:<a href="https://t.co/jqUNC22F28" rel="noopener noreferrer nofollow">https://t.co/jqUNC22F28</a>
 — Polygon | Aggregated (@0xPolygon) <a href="https://twitter.com/0xPolygon/status/1807766700785332373?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
State bloat is a well-known challenge in blockchain technology. Increased usage of a blockchain leads to the<a href="https://www.crypto-news-flash.com/polygon-and-fox-corporation-team-up-for-verify-a-deep-dive-into-their-zk-powered-l2-chain/" rel="noopener noreferrer nofollow"> accumulation of additional states,</a> slowing down the network and raising transaction fees. Polygon Miden addresses this issue by implementing a state minimization process that reduces the need for extensive data storage.
The zkEVM roll-up technology in Polygon Miden enables block creation and authentication without storing the entire state. Zero-knowledge (ZK) proofs allow users to store data, with the rollup keeping track of verifiable commitments. When a user’s state changes, a ZK proof validates the transformation, ensuring efficient and scalable blockchain operations.
Spark, developed by Composability Labs, utilizes Polygon Miden’s state minimization features to create a highly efficient on-chain CLOB. Designed for spot and perpetual exchanges, Spark leverages Polygon Miden’s unique account and note architecture to enhance trading efficiency and transparency.
<h3 id="span-style-font-weight-400-key-benefits-of-spark-span">Key benefits of Spark</h3>
<ul>
 <li style="font-weight: 400;">On-Chain Execution: Ensures greater transparency and security compared to off-chain solutions.</li>
 <li style="font-weight: 400;">Advanced Order Types: Supports a wide range of order types and provides a transparent view of market depth and liquidity.</li>
 <li style="font-weight: 400;">Enhanced Trading Efficiency: Reduces critical implementation issues in DeFi, enhancing the overall trading experience.</li>
</ul>
Spark’s on-chain execution model mitigates the tradeoffs associated with off-chain order books, such as reduced transparency and potential security risks. By incorporating standard practices for trading strategies and algorithms, Spark supports efficient and effective trading operations.
Composability Labs is further advancing decentralized finance by bringing execution on-chain and building high-performance, order-book-based protocols. Polygon Miden’s features, such as account abstraction and local asset storage, improve user experience by ensuring efficiency and security. Each account in Polygon Miden is represented by a smart contract, making potential exploits more challenging as each account must be individually targeted.
The state-minimized design of Polygon Miden enables locally executed, on-chain CLOBs like Spark. Additional features, such as an on-chain price oracle for perpetual markets, are in development.<a href="https://www.crypto-news-flash.com/polygon-and-ternoa-collaborate-introducing-zkevm-for-digital-asset-security/" rel="noopener noreferrer nofollow"> These innovations</a> aim to enhance efficiency, autonomy, and scalability in DeFi markets.
<h3 id="span-style-font-weight-400-enhancing-the-ethereum-defi-landscape-span">Enhancing the Ethereum DeFi Landscape</h3>
Polygon Miden combines elements from both Bitcoin and Ethereum, offering a unique blockchain experience. It uses the concept of Bitcoin UTXOs (unspent transaction outputs) and enhances them with customizable logic, known as Notes. These Notes function like cryptographic cashier’s checks with attached logic, enabling conditional transactions.
Polygon Miden also advances the concept of <a href="https://www.crypto-news-flash.com/wirex-pay-and-polygons-agglayer-boosting-blockchain-efficiency/" rel="noopener noreferrer nofollow">programmable smart contracts </a>from Ethereum by enabling client-side proving of transactions. Users execute transactions locally and submit ZK proofs to the rollup, maintaining transaction privacy while enhancing performance. This approach allows Polygon Miden to process transactions in parallel, significantly improving transaction throughput.

Polygon Miden Launches $35M Grant Initiative to Propel Innovation

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