Blockchain

Polygon Co-Founder: “Ethereum Will Overtake Visa With ZkEVM Rollups”

zkEVM Rollups, a new scaling solution for Ethereum, will allow the smart contract protocol to surpass Visa in terms of transaction throughput, Polygon co-founder Mihailo Bjelic said in a recent interview.

Polygon Co-Founder: “Ethereum Will Overtake Visa With ZkEVM Rollups” 3

Polygon recently announced to be the first to deploy the scaling solution zkEVM, which aims to reduce Ethereum’s transaction costs and improve its throughput. This layer-2 protocol can pool several transactions together and then forward them to the Ethereum network as a single transaction.

According to Bjelic, the solution represents the Holy Grail of Web3 as it offers security, scalability, and full compatibility with Ethereum, meaning developers won’t have to learn a new programming language to work with it.

“When you launch a scaling solution, you ideally want to preserve that developer experience. Otherwise, there will be a lot of friction,” Bjelic explained.

Polygon Co-Founder: “Ethereum Will Overtake Visa With ZkEVM Rollups” 4

According to Sandeep Nailwal, another co-founder of Polygon, this solution will cut Ethereum fees by 90% and increase transaction throughput to 40–50 transactions per second.

As Bjelic pointed out, if upgraded further, ZkEVM Rollups a day can process thousands of transactions per second, thus far surpassing mainstream payment systems like Visa.

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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.