Polygon (MATIC), a top-tier scaling solution for the Ethereum network, is poised to launch its highly anticipated zkEVM Layer-2 scaling solution on March 27th. The zkEVM solution will employ ZK-Rollup technology, enabling computations to be processed off-chain on a secondary layer. This will not only increase transaction speeds and reduce costs but also place a strong emphasis on security.
It’s effortless for developers to employ zkEVM.
Polygon’s zkEVM is highly compatible with Ethereum’s Virtual Machine (EVM), allowing developers to effortlessly import Ethereum applications and use them on Polygon’s network without significant modifications. This compatibility is made possible through the use of “proofs” in ZK rollups, which provide evidence that a transaction was not falsified by revealing a small piece of information about that transaction.
In October, Polygon launched its zkEVM testnet, which utilized the EVM for its ZK rollup, enabling Ethereum developers to transfer their smart contracts from the main blockchain to the ZK rollup without the need to rewrite them in a different programming language. As per official statistics, the live testnet has already generated more than 75,000 ZK proofs, and around 5,000 smart contracts have been deployed.
This demonstrates the seamless integration and compatibility of Polygon’s zkEVM with Ethereum’s EVM, making it an appealing option for developers.
It is worth noting that, although Layer 2 solutions like Arbitrum and Optimism are gaining momentum as Optimistic Rollup-based solutions, the majority of zero-knowledge Layer 2 solutions currently lack compatibility with Ethereum.
Polygon (MATIC) Price Suge Ahead?
Polygon Labs has recently announced that it will release more details regarding the Mainnet Beta in the upcoming weeks. As security is a top priority, the zkEVM solution underwent rigorous audits and testing to ensure the utmost protection for the Ethereum community. During the Mainnet Beta, both developers and users can expect full transparency on the security measures implemented.
This news has been positively received by the Polygon community, and analysts anticipate a significant price surge in the lead-up to the launch. Currently, Polygon’s (MATIC) price is trading at $1.23, marking a 7.6% increase in the past 24 hours, as per CoinGape’s crypto market tracker, despite a 1.85% decrease in the last seven days.