SNEAK PEEK
- Polygon has launched zkEVM, the world’s only ETH-compatible zero-knowledge scaling solution.
- The scaling solution allows developers to utilize any ETH smart contract.
- zkEVM testnet will go live soon; however, any date has not been announced.
Polygon has announced the launch of the world’s first and ethereum compatible ZK or zero-knowledge scaling solution.
We are proud to announce a giant leap forward for Ethereum scaling and ZK innovation.
— Polygon – MATIC 💜 (@0xPolygon) July 20, 2022
Introducing Polygon #zkEVM, the first EVM-equivalent ZK L2.
Today we’re releasing a complete implementation, fully open-source, and we’re just getting started.
[1/6] pic.twitter.com/P929DRCT1y
Polygon, in its blog, mentioned that Zero Knowledge Ethereum Virtual Machine will allow developers to logically utilize any ETH smart contract not only to to scale infinitely but also to curb the fees exceptionally.
Polygon also mentioned that that it’s similar to using ethereum combined with the revolutionary power of ZK tech.
A layer 2 protocol, zkEVM, rolls up a comprehensive batch of transactions and proves it to ethereum through a ZK validity proof.
From the beginning itself, Polygon has seven different teams to create an interrelated web of products. Three of those teams- Zero, Miden and Hermez have together created the zkEVM.
The ZK proof technology focuses on some major issues in terms of the scaling solutions. Upon batching transactions into groups and broadcasting them as a single transaction, it greatly decreases the gas fees. Gas fee is divided among the participants.
Co-founder of Polygon, Mihailo Bjelic, said that the goal of Web3 infrastructure must include scalability, security and ethereum-compatibility.
Additionally, he said that offering all the three properties was practically impossible until now. However, Polygon zkEVM has achieved it and has opened a brand new chapter of mass adoption.
zkEVM has been designed as a permissionless, open-source solution. Its code has been published and can be used by anyone.
Though the company has disclosed that the zkEVM testnet will go live soon, it didn’t share further details about the expected date.
As per sources, the zkEVM testnet will launch this summer; whereas, the mainnet launch might happen in the beginning of 2023.
