Polygon Deploys zkEVM Scaling Solution Compatible With Ethereum

An Ethereum-compatible scaling solution that makes use of the zero-knowledge proof cryptographic method zkEVM has been launched by Polygon.

The launch is being praised as a major step toward Ethereum scaling and innovation using Zero Knowledge. The goal of zkEVM is to increase scalability while maintaining security and decentralization. The launch will significantly increase throughput while lowering fees.

We are proud to announce a giant leap forward for Ethereum scaling and ZK innovation.

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 – MATIC ? (@0xPolygon) July 20, 2022

Since zkEVm is completely equivalent to EVM, any Ethereum development tool may be used with Polygon zkEVM. Initially, zkEVM was teased by Polygon, saying that the new model focuses on enabling any development tools, wallets, and smart contracts to run without modifying or altering the code.

The ZK-Rollups will make it possible to handle several transactions at a reasonable cost. Users will be able to benefit from lower costs and faster speeds with Polygon zkEVM.

“Everybody thought (a zkEVM) was at least 12 to 18 months away,” But here we are, and we are open sourcing the code and making the test net live,” Polygon co-founder Sandeep Nailwal.

The debut of zkEVM has been in the works for a while and is significant for Polygon. However, the price of MATIC appears to have been unaffected by the announcement as it is currently trading at $0.913226.

Polygon was the only project in the top 20 to trade in green last week, even though the whole cryptocurrency market was in the red. In reality, MATIC has performed admirably over the past 30 days, with gains of 139 percent and 78.7 percent over the previous 14 days, respectively.

There has been an increase of 68.4 percent just in the past week. The crypto community must wait to witness the news’ true effects when it garners widespread attention.

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