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Polygon Confirms Ethereum-Compatible Zero-Knowledge Scaling Solution

Cryptocurrency Jul 20, 2022 18:11
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Polygon Confirms Ethereum-Compatible Zero-Knowledge Scaling Solution

Polygon (CRYPTO: MATIC) is set to launch Polygon zkEVM, an Ethereum (CRYPTO: ETH) equal scaling solution.

At the Ethereum Community Conference (EthCC) on July 19, Polygon confirmed the launch of Polygon zkEVM, endeavouring to optimize zero-knowledge technology and lower fees by approximately 90%, in comparison to L1 Ethereum’s present costs.

The Ethereum network looks to enhance the network via projects such as Polygon zkEVM. Roll-ups are fundamentally zero knowledge or Optimistic. The former is known to utilize better technology.

Polygon zkEVM sets to be an Ethereum Virtual Machine (EVM) equivalent, with the utilities of the Ethereum ecosystem. Being EVM-equivalent, Polygon zkEVM does not require code-modification or re-implementation, thus resulting in reduced user friction.

Employing the benefits of zero-knowledge proofs, Polygon zkEVM benefits from Ethereum’s security, while offering lower transaction costs.

Polygon zkEVM’s initial source code has been released. However, its public test net is expected to launch in the coming months, while the main net is set to launch in early 2023.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Polygon Confirms Ethereum-Compatible Zero-Knowledge Scaling Solution
 

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