Polygon announced the zkEVM technology it developed to reduce costs on Ethereum. In the world of crypto money and blockchain, new options and applications are emerging every day. So what is zkEVM, Polygon’s new scaling option?
When Will Polygon New Scaling Option zkEVM Be Released?
A zero-knowledge scaling solution called zkEVM, compatible with Polygon, Ethereum Virtual Machine, is currently on the testnet. This new scaling option will also launch on the mainnet later in the year.
Polygon zkEVM, an Ethereum compatible scaling solution known as zero-knowledge proofs, introduced the Zero-Knowledge Ethereum Virtual Machine option. With the release of this technology, any smart contract developer tool on Ethereum will now be able to use it on Polygon. This will reduce the transaction fee.
Jordi Baylina, co-founder of Polygon Hermez, made the following statement at the press conference;
“Many believed that zkEVM was either out of the industry or uncompetitive. No one believed us, but Polygon did.”
Polygon stated that thanks to this newly announced technology, it does not compromise on the security problem in any way. In addition, scalability will be at the highest level in zkEVM. zkEVM also stands out as the first Ethereum scaling solution to be used to reduce cost.
What is zkEVM?
Let’s answer the question of what is zkEVM. zkEVM, which affects the operation of nodes, prevents the encryption and backward cracking of unnecessary data.
zkEVM uses minimal storage and computational resources. Plonk uses Zero-Knowledge proof to deliver significant benefits and generate more work, much faster. The benefit of the zkEVM solution to Ethrereum technology is that more transactions per second are done.
We will see together if this new scaling option will be in demand.
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