Polygon (MATIC), one of Ethereum’s leading scaling projects, plans to release a new Layer-2 scaling solution, zkEVM, in a mainnet phase on March 27. zkEVM becomes a zero-knowledge or ZK-Rollup that performs computations chain on a secondary layer. This enables faster and cheaper transactions while emphasizing security.
zkEVM makes it easy for developers
The fact that Polygon claims that zkEVM is nearly identical to Ethereum’s Virtual Machine (EVM) indicates that users can expect the network to support the same code as Ethereum. This allows developers to import apps from Ethereum and use them on Polygon’s zkEVM network without major customization. ZK rollups use “evidence” to show that a transaction is not faked by simply releasing a snippet of information about that transaction.
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In October, Polygon went live with its zkEVM testnet, which deployed the EVM for its ZK rollup. This made it possible for Ethereum developers to port their smart contracts from the primary blockchain to the ZK rollup without having to rewrite them in a different programming language. And according to the official data, more than 75,000 ZK proofs have been generated since the live testnet was launched and about 5,000 smart contracts have been deployed.
In an official blog post, the team was quoted as saying:
Polygon zkEVM has been battle tested through actual use of the testnet and also through an exhaustive process of auditing. And developers can copy and paste code that works on Ethereum and use it to build on Polygon zkEVM.
However, it should be mentioned that despite the growth of Layer 2 solutions such as Arbitrum and Optimism, both of which are Optimistic Rollup based solutions, most zero-knowledge Layer 2 solutions do not yet have Ethereum compatibility.
Polygon (MATIC) Price Suge Ahead?
In addition, the team announced that Polygon Labs will make more information about Mainnet Beta available in the coming weeks. Due to the fact that maintaining security is of paramount importance, Polygon zkEVM is subject to a series of rigorous investigations and audits. During the Mainnet Beta phase, users and developers can expect full transparency regarding the security measures that will be implemented to protect the Ethereum community.
This development has been welcomed by the Polygon community, with analysts expecting a significant price increase in the days leading up to launch. As things stand, the price of Polygon (MATIC) is trading at $1.23, representing a 7.6% increase in the past 24 hours as opposed to a 1.85% decline in the last seven days, according to CoinGape’s crypto market tracker.
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Pratik has been a crypto evangelist since 2016 and has experienced almost everything crypto has to offer. Be it the ICO boom, the bear markets of 2018, Bitcoin’s halving so far – he’s seen it all.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
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