Polygon (MATIC), de layer-2 scaling solution for Ethereum (ETH), yesterday launched the beta version of zkEVM on the mainnet. More than a year of hard work has gone into this major upgrade. In addition to development, the code has also passed two independent parties for security checks.
The moment we’ve all been waiting for – Polygon #zkEVM Mainnet Beta is LIVE with @VitalikButerin performing the symbolic first transaction.
👏🏽 Fast finality
👏🏼 Leading EVM equivalent zkEVM
👏🏻 Completely open source
— Polygon (labs) (@0xPolygonLabs) March 27, 2023
Launch Polygon zkEVM
The abbreviation zkEVM stands for zero knowledge Ethereum Virtual Machine. With zero-knowledge, calculations can be proven without all data having to be shared. This makes it possible to save scarce space on the blockchain and, as a result, to operate more efficiently. The Ethereum Virtual Machine allows developers to easily copy existing smart contracts into Polygon’s zkEVM.
The open source zkEVM is touted to allow decentralized applications (DApps) to scale through transaction batches, enabling higher performance.
Gas costs will also be reduced for DApp users, which could provide impetus for wider adoption, while the use of zero-knowledge proofs will see Polygon zkEVM take over Ethereum’s network security.
According to it Polygon press release more than fifty companies shared that they would build using the zkEVM technology.
Polygon co-founder Sandeep Nailwal described zk-proofs as “the holy grail of Ethereum scaling” as it enables the layer-1 blockchain to easily verify a submitted proof without re-computing. feed:
“Imagine you calculated an entire business transaction somewhere off-chain, mamar on Ethereum you submitted a very concise proof and Ethereeum is 200% sure that you calculated it correctly.”
While the zkEVM has been launched to mainnet beta, Nailwal emphasized that the technology is in the final product state. The zkEVM will be further optimized as the number of users increases and bug bounties and further audits will be conducted in the next few months.
Ethereum founder makes first transaction
The founder of the Ethereum network, Vitalik Buterin, was also involved in the launch of Polygon’s zk EVM. He carried out the very first transaction out. Nailwill described the gesture as symbolic, given Buterin’s continued influence on Ethereum’s development.