Polygon and Matter Labs Launches zkEVM Public Testnet

Polygon announces its zkEVM Public Testnet is available, targeting the mainnet in early 2023. Matter Labs compete to launch the same rollups this week.

A zero-knowledge proof-based rollup (zk-rollup) on Ethereum virtual machine (EVM) is the fundamental setting platform for both leading blockchain network Polygon and Matter Labs. Polygon announces the new launch of the public testnet today.

According to Polygon Co-founder Mihailo Bjelic, zkEVMs are the right move for EVM-equivalent effort of scaling. “Thanks to several breakthroughs that we had internally in our zkEVM team, we were able to improve the efficiency by several orders of magnitude, and we managed to deliver in a little bit less than one year,” Bjelic stated.

“It will take years of refinement and audits for people to be fully comfortable storing their assets in a ZK-rollup running a full EVM.” Ethereum co-founder Vitalik Buterin emphasized one year ago.

zkEVM Public Testnet
Polygon and Matter Labs Launches zkEVM Public Testnet 2

Zero-knowledge rollups based on zero knowledge proof to execute the off-chain transactions and then batch them into the Ethereum Network. This is the scaling solution to increase throughput on Ethereum Mainnet by moving computation and state storage off-chain. By developing this technology, the second-largest blockchain network aims to solve the current issues of scalability, security, and familiarity with coding.

“So you can take, let’s say, 1 million transactions, generate one single proof for them, and that proof takes a fraction of a second to verify, and you prove that these 1 million transactions were correct,” Bjelic said.

Polygon – the decentralized scaling platform – aims to be the first open source that uses EVM-equivalent zk-rollup. That being said, these projects on its chains, including Aave and Uniswap are chosen to be the protocol for the zkEVM testnet.

“Polygon zkEVM testnet also includes a completely open-sourced zk-Prover — the first of its kind to be released publicly,” Polygon said in a statement.

By contrast, zkSync’s EVM — dubbed zkSync 2.0 — sets itself as “Ethereum-compatible,” by using three opcodes to develop performance. The firm plans EVM open-source on the mainnet after setting its own validators. “We don’t have a date yet, because we’re very conservative about giving dates,” Steve Newcomb from Matter Labs said

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 us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Ken

CoinCu News

970x90.gif (970×90)