- Polygon Labs has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and build.
- The launch of zkEVM is designed to improve the scalability of Ethereum, allowing faster and more efficient transactions with lower fees for developers and users of the protocol’s new feature.
- The protocol refers to the risks of using zkEVM Mainnet Beta. To address these potential risks, Polygon has taken precautionary measures.
What is Polygon Zero-Knowledge Proof Ethereum Virtual Machine (zkEVM)?
Polygon Labs has recently made a major announcement that is set to impact the Ethereum network’s future positively. The protocol has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and build. According to the announcement, to further support the protocol’s development, Polygon zkEVM is now completely open-source. With this launch, Polygon is allegedly helping to pave the way for the next chapter of Ethereum’s development and offering developers and users a new tool for building decentralized applications.
What Are The Benefits Of Polygons’s New zkEVM?
The Polygon zkEVM is a zero-knowledge proof (ZPK) scaling solution developed by the same protocol, designed to enable faster and cheaper transactions on Ethereum’s network. The public testnets for zkEVM have established it as a leader among Ethereum Virtual Machine (EVM) equivalent ZK scaling solutions. One of the key benefits of zkEVM is its use of zero-knowledge proofs, which ensures security and reduces gas fees. Another win for users is that zero-knowledge proofs enable transaction verifications without revealing sensitive information, making them highly secure. Furthermore, Polygon’s zkEVM is designed to be fully compatible with the EVM, so developers can easily deploy existing Ethereum smart contracts on the network, facilitating developers to migrate their existing applications to zkEVM.
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