Polygon Launches New EVM Compatible ZK Scaling Solution
Ethereum Layer 2 scaling solution Polygon (formerly Matic) announced today the launch of a new Zero Knowledge Proof scaling solution dubbed zkEVM.
zkEVM inherits the security of Ethereum while increasing throughput and radically reducing fees. EVM-equivalence means that any smart contract or dev tool that you can use on Ethereum can be used on Polygon zkEVM.
Like many Zero Knowledge Layer 2’s, Polygon “rolls up” a batch of transactions and uses a ZK proof to validate those transactions on Ethereum. zkEVM doesn’t sacrifice speed or raise costs to achieve EVM-equivalence and will achieve high throughput, low latency, and low fees.
Polygon co-founder Mihailo tweeted; “zkEVM is a true Holy Grail; it has all the properties we ideally want/need, but it has been considered very hard (or even impossible!) to build! Thanks to Polygon’s teams, the engineering and cryptographic breakthroughs they made and relentless work, it is now a reality.” He went on to say, “Alongside The Merge, we consider zkEVM the biggest tech breakthrough/milestone in Ethereum (or even the whole industry) this year, and we believe it will start a new chapter of mass adoption.”
Excited to see the technology in action and look forward to the next chapter in L2 & zK scaling solutions.