Ernst & Young integrates Ethereum Polygon protocol into their b2b services

The innovation will help reduce the cost of concluding smart contracts.

Audit corporation Ernst & Young announced on Monday that it has integrated the Polygon solution into its EY OpsChain and EY Blockchain Analyzer blockchain services.

  • EY created the EY OpsChain blockchain system in September last year. EY customers can move their business processes to the blockchain using the blockchain.ey.com corporation portal.

  • Ernst & Young noted that the cost of transactions on the main Ethereum network has increased recently. Using the Polygon protocol helps solve this problem. Now corporate clients of the company will be able to make more transactions at a “predictable value”.

Average transaction cost on the Ethereum network over the last 3 months. Source: bitinfocharts.com.

“No other organization has taken such a significant step towards integrating into the ecosystem. [Ethereum] and an open network, and did not leverage technology as deeply as EY did, ”said Polygon founder Sandeep Nailwal.

EY also released the Nightfall 3 toolkit this July, which helps Ethereum users pay less on gas.

The consulting company recently worked with the UK authorities to develop the TaxGrid solution. The solution uses blockchain technology to automate and provide a safer exchange of tax and financial information between financial intermediaries and tax authorities.

In June, EY launched CryptoPrep, a crypto tax calculator application that helps file tax returns in the United States.

Read also: Ethereum, Cardano and IOTA are leading in developer activity, the study found.

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