Miden | Edge Blockchain | Deep Dive

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Executive Summary

Miden, dubbed the Edge Blockchain, is a zero-knowledge (ZK) rollup layer 2 solution that emerged as a spinout from Polygon Labs. It is designed to revolutionize blockchain scalability, privacy, and security. By shifting transaction execution and state management to the client side, Miden empowers users to process and prove transactions locally using ZK proofs, reducing network congestion and enhancing privacy. 

Currently in its Alpha testnet phase, Miden targets high-throughput, private applications in sectors such as payments, decentralized finance (DeFi), digital assets, and gaming. Built on Ethereum and integrated with the AggLayer, Miden leverages Rust for secure smart contract development and supports both public and private transactions. 

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About the Project

Vision: 

Miden envisions an infinitely scalable, fully private, and highly secure blockchain that gives users complete control over their data and transactions. Its goal is to create a blockchain ecosystem that supports both public and private transactions at scale, enabling innovative applications in various industries. 

Problem:

Traditional blockchains like Ethereum face significant scalability, privacy, and security challenges. As user numbers and transaction volume grow, these blockchains experience high fees, slow transaction times, and limited throughput. Additionally, most blockchains are public ledgers, which compromises user privacy and often require complex smart contract development, increasing the risk of security vulnerabilities. 

Solution:

Miden introduces the Edge Blockchain architecture, where transaction execution and state management are handled on the client side. By using zero-knowledge proofs, Miden allows users to prove the validity of their transactions without revealing the underlying data, thus enhancing privacy. This approach also reduces the network's computational load, enabling higher scalability.

Additionally, Miden supports smart contract development in Rust, which is known for its safety and performance, thereby improving security. Its architecture supports public and private transactions, making it versatile for various use cases. 

Market Analysis

Miden operates in the rapidly growing layer 2 blockchain sector, a subset of the broader blockchain technology market. This sector is focused on enhancing the scalability, speed, and cost-efficiency of layer 1 blockchains like Ethereum. It is a key growth driver, enabling high-throughput applications like DeFi, NFTs, and gaming. 

According to Grand View Research, the global blockchain technology market was estimated at $31.28B in 2024 and is projected to grow at a CAGR of 90.1% from 2025 to 2030. The demand for secure and transparent transactions across many industries drives the market growth.

Competition

Miden faces competition from other ZK rollup solutions, each aiming to enhance Ethereum’s scalability and privacy. 

• StarkNet: Developed by StarkWare, StarkNet is a ZK rollup competing with Miden for scalable, privacy-focused Ethereum dApps. Like Miden, it uses ZK proofs to batch transactions, reducing costs and increasing throughput, and targets DeFi and gaming. StarkNet’s Cairo language contrasts with Miden’s Rust, making Miden more developer-friendly for those familiar with mainstream languages. Unlike Miden’s client-side execution, StarkNet relies on server-side proving, which may limit user control over data privacy. 

• zkSync: Developed by Matter Labs, zkSync is an EVM-compatible ZK rollup competing with Miden for low-cost, high-throughput Ethereum transactions. Both leverage ZK rollups for scalability and security, targeting DeFi and payments. zkSync focuses on cost efficiency, while Miden emphasizes self-custodied state management, offering stronger privacy through local data control. zkSync’s LLVM-based compiler differs from Miden’s Rust-based development. 

• Aztec: Aztec is a privacy-focused ZK rollup competing with Miden for confidential Ethereum transactions. Both use ZK proofs to enable private transactions, which are ideal for DeFi and payments, and aim to protect user data. Aztec’s hybrid model combines ZK and optimistic rollups, using Noir for privacy-first contracts, while Miden’s pure ZK rollup supports both public and private transactions via Rust. 

• Loopring: Loopring is a ZK rollup for decentralized exchanges, competing with Miden in high-throughput trading applications. Loopring’s niche is DEX protocols with order book-based trading, unlike Miden’s broader support for general-purpose dApps. 

Features

• Scalability: Leverages client-side proving, allowing users to execute and prove transactions locally, significantly reducing the network's computational load and enabling high throughput.

• Privacy: Through edge execution and self-custodial state management, Miden ensures that users maintain full control over their data, with only publicly shared commitments (not actual data). 

• Security: Miden supports smart contract development in Rust, which is known for its safety. It also indicates built-in account abstraction, simplifying user interactions. Native asset storage for user accounts minimizes the attack surface. 

• Developer-Friendly: The Miden VM supports programs written in Rust and compiled for WebAssembly, providing a familiar and safe environment for developers to build complex applications. 

Traction

Miden is currently in testnet alpha v07 and is open for builders to experiment with and develop applications. They also have an ecosystem development program, called “The Miden Pioneer Program,” that provides support and funding to top teams backed by venture funds, market makers, and technical assistance. Miden is gaining followers on X (Twitter) and Telegram, indicating a growing community of supporters and developers. 

Team

Miden’s team has ten-plus members and is actively expanding. It consists of professionals with deep expertise in blockchain, cryptography, and software engineering. The leadership includes Dominik Schmid and Azeem Khan. 

Dominik, who comes from a software engineering and consulting background, has previously worked in web3 at ConsenSys and Polygon. Azeem also has web3 experience with projects like Gitcoin and MorphL2 and has been a venture partner at Foresight Ventures. 

The broader team includes engineers with cryptography, distributed systems, and WebAssembly backgrounds. The team’s focus on Rust and ZK technology, combined with their prior work on high-profile blockchain projects, equips Miden to tackle the challenges of building a privacy-centric layer 2 solution. 

Investors

Miden raised a $25M seed round in April 2025. It was led by a16z, 1kx, and Hack VC and included Sandeep Nailwal, P2 Ventures, MH Ventures, Symbolic Capital, Finality Capital, and others. 

Conclusion

Miden represents a promising development in the blockchain space, particularly in layer 2 scaling solutions focusing on privacy and scalability. Its unique architecture, which moves execution and state to the client side, combined with zero-knowledge proofs, offers a novel approach to overcoming the limitations of traditional blockchains. 

With a strong team, substantial funding from leading investors, and strategic support from Polygon Labs, Miden is well-positioned to make a significant impact. However, as it is still in its alpha testnet phase, its real-world performance and adoption will be key to its success. Early indicators, such as the Miden Pioneer Program and community engagement, suggest growing interest and potential for future growth.