Blockchain

Polygon Launches Layer-2 Solution Built For Ethereum

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

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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.

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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.

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Harold

CoinCu News

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.