The Polygon team, focusing on the promising trends of the falling market, launched the zkEVM solution for the effective implementation of the Internet of the future.
The developers reported that the leading Ethereum scaling network Polygon has launched a virtual machine using the zero-knowledge proof protocol (Polygon zkEVM). zkEVM is hailed as the first solution to use ZK proofs to improve scalability and reduce costs without sacrificing security.
ZK proofs combine transactions into groups before transferring information to Ethereum – in the form of a single request for a transaction. The gas fee is then distributed among the participants, which reduces the commission per transaction to a minimum.
Because Polygon zkEVM is “fundamentally equivalent” to the Ethereum Virtual Machine (EVM), it works with existing smart contracts, developer tools, and wallets without changing or re-implementing the code. Polygon co-founder Mihailo Bjelic noted that Polygon zkEVM is a breakthrough in cryptographic research that allows developers to create the future of Web3, and fully benefits the Ethereum ecosystem.
“In order to connect billions of people to Web3, the blockchain architecture must be able to scale without sacrificing security. Until now, this was almost impossible, and developers and users had to choose and sacrifice something. Polygon zkEVM provides both scalability and security, opening a new chapter in mainstream technology adoption,” Bjelic said.
Polygon says blockchain developers using programming languages like Solidity and toolkits like MetaMask and Hardhat will be able to port their applications by simply switching nodes. In addition, zkEVM makes it easy for developers to create non-fungible tokens (NFTs), new gaming technologies, and enterprise applications.
Polygon CEO Sandeep Nailwal believes that Web3 continues to grow even in the cryptocurrency bear market thanks to new developments.
Source: Bits
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