Miden is a STARK-based, zero-knowledge (ZK) rollup being developed as a programmable privacy network for Ethereum. It originated within Polygon before spinning out as an independent project and is designed to provide high-throughput, private transactions, and verifiable computation. The project positions its architecture as an "Edge Blockchain," focusing on client-side proving to enhance user privacy and aiming to support financial applications that require both confidentiality and compliance features. ^{[1] [2] [3]}​

Overview

Miden is being built to extend Ethereum's throughput by processing a high volume of complex transactions off-chain and using STARK proofs to verify their validity on the mainnet. The project's stated purpose is to provide "practical privacy for the future of finance" by creating a platform for businesses and developers to build on-chain financial applications. ^{[1] [4]}​

A key aspect of Miden's design is its "Edge Blockchain" concept, which emphasizes client-side computation and user-controlled data. ^[2] In this model, users can generate proofs of their own state transitions on their local machines, which enhances privacy by reducing the amount of data processed by centralized sequencers. This architecture is intended to support customizable privacy, allowing developers to create either public or private transactions to serve a wide range of business use cases. ^{[1] [3]}​

The project is developing its own non-EVM-compatible virtual machine, the Miden VM, which is optimized for ZK-proof generation. This design choice prioritizes performance and STARK-friendly computation over direct compatibility with existing Ethereum tools and languages like Solidity. Miden also incorporates post-quantum cryptography to address long-term security threats from future quantum computing advancements. The platform's features for programmable privacy are intended to be adaptable to evolving financial regulations. ^{[1] [3]}​

History

The technological foundation for Miden was created by Sander Pick, a researcher in the field of STARKs who developed the core Distaff/Miden VM technology. The Miden project was later acquired by Polygon (then known as Matic) in November 2021. This acquisition was part of a larger $400 million strategic investment by Polygon into ZK-based scaling solutions, with the Miden project becoming a key component of the Polygon Zero umbrella of ZK initiatives. ^[3]​

Following the acquisition, the project entered a period of intensive development under the leadership of Project Lead Bobbin Threadbare (a pseudonym). During late 2022 and early 2023, the team released the initial versions of the Miden VM (v0.1 and v0.2), demonstrating the core functions of the STARK-based virtual machine. A technical whitepaper detailing the rollup's architecture was subsequently released in the second quarter of 2023. ^[3]​

In November 2023, Miden launched its initial public testnet, allowing developers to begin experimenting with the Miden VM and its feature set. Throughout 2024 and 2025, the project continued to issue incremental updates to the testnet, focusing on performance improvements, feature additions, and the expansion of its developer toolchain. During this phase, Miden also initiated a public bug bounty program and offered grants for ecosystem projects to encourage adoption. ^[3]​

On April 29, 2025, Miden announced that it had spun out from Polygon to become an independent entity. Concurrent with the spinout, the project announced it had raised a $25 million seed round to fund its continued development. ^[2]​

In January 2026, Miden announced it had signed a Memorandum of Understanding (MOU) with Korea Digital Asset (KODA), a leading institutional digital-asset custodian in South Korea. The partnership's stated goal is to develop privacy-preserving financial infrastructure in the region. ^[2]​

Technology and Architecture

Miden operates as a STARK-based ZK-Rollup on the Ethereum network. Its architecture is designed to bundle a large number of transactions off-chain, generate a single cryptographic STARK proof to attest to their validity, and then submit this compact proof to the Ethereum mainnet. This process significantly reduces the on-chain footprint, allowing for high transaction throughput. ^[3]​

Miden VM

At the core of the network is the Miden VM, a stack-based, Turing-complete virtual machine specifically designed for the efficient generation of STARK proofs. Unlike many other Layer 2 solutions, the Miden VM is not EVM-compatible. This decision represents a design tradeoff, moving away from direct compatibility with Ethereum's extensive tooling and the Solidity programming language in favor of an environment optimized for provable computation and performance. According to project communications, this custom VM allows Miden to "push the boundaries of what is possible with provable computation and client-side validation."

Developers building on Miden must use its specific toolchain, which includes Miden Assembly and higher-level languages that compile to Miden VM bytecode, such as Rust. ^{[3] [2]}​

The "Edge Blockchain" Concept

Miden uses the term "Edge Blockchain" to describe its focus on client-side computation and data control. This approach shifts a significant portion of the computational work from the network to the end-user's device. For private transactions, users can execute state transitions locally, generate a proof of this execution, and submit only the proof and a commitment to the new state to the network. The underlying transaction details remain private, known only to the user. This model is intended to enhance both user privacy and the decentralization of the network by lessening the reliance on centralized sequencers to handle sensitive transaction data. ^{[2] [3]}​

Key Features

Miden's architecture includes several distinct technical features:

• State Model and Private Notes: The network uses an account-based state model similar to Ethereum. However, it extends this model with the concept of private "notes," which function similarly to UTXOs in Zcash. These notes allow assets and data to be held privately by the user off-chain while still being secured by the on-chain contract. Transactions can be executed locally to affect this private state. ^[3]
• Client-Side Proving: Users have the ability to generate proofs for their own transactions on their local machines. This is fundamental to Miden's privacy model, as it ensures that unencrypted transaction data does not need to be shared with a third-party operator. ^[3]
• Parallel Transaction Execution: Because many transactions primarily involve changes to a user's local state, the system is designed to process and prove them in parallel. This offers a significant advantage for throughput, as the network does not need to execute transactions sequentially unless they have direct state conflicts. ^[3]
• Quantum Security: The project states that its network is built using post-quantum cryptography. This is intended to provide long-term security against potential threats from future quantum computers that could break current cryptographic standards. ^[1]

Funding

Miden announced a $25 million seed funding round on April 29, 2025, which coincided with its formal spinout from Polygon. ^[2]​

The round included participation from a number of venture capital firms, including:

• a16z Crypto
• 1kx
• Hack VC
• Finality Capital
• Symbolic Capital
• Delta Fund
• MH Ventures
• P2 Ventures^[1]

Partnerships and Ecosystem

Miden maintains a foundational relationship with Polygon, having been developed within its ecosystem before becoming an independent entity in 2025. ^{[2] [3]}​

In January 2026, Miden entered into a Memorandum of Understanding (MOU) with Korea Digital Asset (KODA). KODA is described as South Korea's leading institutional digital-asset custodian, holding an 80% market share in the country's institutional sector. The stated objective of the partnership is to "lay the groundwork for secure, privacy-preserving, and compliant onchain finance in Korea." A primary use case highlighted by the collaboration is the development of private custody solutions on the Miden network. ^[2]​

To foster developer adoption, Miden has engaged its community through grants, bug bounties, and events. ^[3] The project scheduled its inaugural developer event, "Hacker Den [01]," to take place in Dubai from February 2-6, 2026. The event was designed to be an opportunity for builders to engage with Miden's technology stack through technical workshops, including one on its Rust compiler. ^[2]​