Recent years have seen significant scaling issues in Ethereum’s network. This has resulted in higher transaction costs and slower transaction times. Polygon (formerly Matic Network), has developed a layer-2 scaling solution that allows for faster, cheaper transactions while still maintaining the security of the Ethereum network and decentralization.
Polygon’s latest innovation, the zkEVM (“zero-knowledge Ethereum virtual machine”) is due to launch its Mainnet Beta in March 2023. This milestone is significant for the Ethereum community because it promises to dramatically improve the network’s scaleability and make it more accessible for developers and users.
The zkEVM uses zero-knowledge proofs in order to make it possible for faster and more affordable transactions on the Ethereum network. Users can enjoy the efficiency of offchain transactions and the trustlessness and security of on-chain transactions with this technology. This results in a network that is more scalable, efficient, cost-effective, and can handle increasing demands for decentralized apps (dApps).
Polygon’s ZkEVM is compatible with Ethereum. This means that existing dApps are easily migrated to the Polygon network. This feature is significant because it allows developers to benefit from the Polygon network without the need to rewrite applications.
Polygon’s ZkEVM integration with Ethereum is another advantage. Polygon developers can use the same programming languages and tools as Ethereum developers, which makes it simple to create and deploy dApps using the Polygon network.
The significant milestone in the history of Ethereum is Polygon’s zkEVM Mainnet Beta Launch on March 27th. It promises to improve the network’s efficiency, scalability, and cost effectiveness, allowing developers and users to access faster and cheaper transactions. It is compatible with Ethereum and integrates with the Ethereum developer ecosystem makes it attractive for developers who want to migrate their dApps onto a more scalable network. Keep checking back for updates about this exciting development.