The crypto world has been granted another new update that is going to help them smoothly transact in the Web3 world. Polygon Network has been working towards the introduction of a zkEVM on to the mainnet for sometime now. Following the processes set in place the feature went live late on March 27, 2023. The launch is being talked about in the crypto community and it is expected to be deemed as one of the most famous trend of 2023.
Polygon, which is an Ethereum scaling platform, launched its zero-knowledge Ethereum Virtual Machine (zkEVM) beta to the public!
The network also mentioned that it has been working towards making all aspects of its zkEVM an open source. This will help the developers to study and share the code, while also allowing them to contribute towards more innovations that can be incorporated within the zero-knowledge space.
Read more at Polygon Price Prediction
.@VitalikButerin did the symbolic first ever transaction on @0xPolygon #zkEVM and it has a message on it
“Millions of constraints for man, unconstrained scalability for mankind”
Goose bumps!! https://t.co/HLNiVyRLie pic.twitter.com/Ue0C1CuDTd
— Sandeep Nailwal | sandeep. polygon 💜 (@sandeepnailwal) March 27, 2023
The co-founder of Polygon, Sandeep Nailwal mentioned in an interview that, “We want to be extremely aligned to the Web3 ethos. We want more experimentation.” To celebrate the launch of the zkEVM, as per the Polygon team, the co-founder of Ethereum, Vitalik Buterin, was given the privilege to initiate the first transaction on the new zkEVM. The event was live-streamed at ETHGlobal at 4:30 p.m. Central European Time.
Source: CoinDesk
The crypto space is working up to welcome the zkEVM era, and the competition to come out with the first zkEVMs culminated in the previous week when, Matter Labs, Polygon’s rival, opened their zkEVM, zkSync Era, to the crypto community. As per the press release from Polygon, there are over 50 companies who have shared that they will be building using the Polygon zkEVM technology.
The competition is not only within the Ethereum scaling solutions, but Buterin himself have also promoted the development of scaling systems for Ethereum since back in 2020. He has also noted in a blog post that went live in August that the various versions of zkEVMs is coming with trade-offs. They are speed versus the degree of compatibility with the Ethereum Virtual Machine programming environment. Nailwal has also commented previously that according to him, the ZK technology is the future of Ethereum. He also said, “It’s a new technology, so we are going to put ample warnings for the users that please be cautious on this, don’t bring your life savings into it immediately.“
.@VitalikButerin sent the transaction on Polygon zkEVM
He is a man of culture. Ensure that the gas limit is 69042 pic.twitter.com/Eh0ebi7giA
— sanket.polygon | polygon zkEVM on 27th March (@sourcex44) March 27, 2023
Mihailo Bjelic, the co-founder of Polygon, commented that “zkEVM can be recognized as the ‘holy grail’ of blockchain scaling.”
Source: CoinDesk, Decrypt.
