Polygon launches ZK-Rollups scaling solution, zkEVM, compatible with EVM.

On July 20, 2022, Polygon launched an expansion solution using ZK-Rollups technology, zkEVM. It is known that zkEVM will be compatible with the Ethereum Virtual Machine (EVM), or projects built on zkEVM will easily integrate with the Ethereum network.

ZK-Rollups is a complex technology used on blockchain to help process more transactions at a lower cost. ZK-Rollups is one of the L2 solutions being widely used on Ethereum.

“Many believed that a zkEVM was years away, or not practical or competitive,’” said Polygon Hermez co-founder Jordi Baylina. While Zero-Knowledge-based scaling solutions have been discussed for some time, they were widely expected to take several years to materialize.

However, Polygon and other companies building on Layer 2, such as StarkWare and Matter Labs, have made significant strides in the ZK-Rollup space over the past year as the race to scale Ethereum intensifies.

zkEVM is still in the testnet phase and is expected to launch the mainnet by the end of 2022.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Blockchain

Polygon Launches Layer-2 Solution Built For Ethereum

Polygon launches ZK-Rollups scaling solution, zkEVM, compatible with EVM.

On July 20, 2022, Polygon launched an expansion solution using ZK-Rollups technology, zkEVM. It is known that zkEVM will be compatible with the Ethereum Virtual Machine (EVM), or projects built on zkEVM will easily integrate with the Ethereum network.

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 (Labs) (@0xPolygonLabs) July 20, 2022

ZK-Rollups is a complex technology used on blockchain to help process more transactions at a lower cost. ZK-Rollups is one of the L2 solutions being widely used on Ethereum.

“Many believed that a zkEVM was years away, or not practical or competitive,’” said Polygon Hermez co-founder Jordi Baylina. While Zero-Knowledge-based scaling solutions have been discussed for some time, they were widely expected to take several years to materialize.

However, Polygon and other companies building on Layer 2, such as StarkWare and Matter Labs, have made significant strides in the ZK-Rollup space over the past year as the race to scale Ethereum intensifies.

zkEVM is still in the testnet phase and is expected to launch the mainnet by the end of 2022.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

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