Feb 15, 2023
Polygon Launches zkEVM Mainnet Beta on March 27, Seamlessly Scaling Ethereum
On March 27, Polygon will launch its zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet, a long-awaited scaling upgrade from the layer-2 solution provider. After three and a half months of rigorous testing, the team is confident that the system is ready for the mainnet launch.
The development of the zk-rollup scaling technology has been ongoing for the past three years, with Polygon hitting several milestones along the way. These include the deployment of more than 5,000 smart contracts, the generation of over 75,000 zk-proofs, more than 84,000 wallets and two public third-party audits.
The team has prioritized security, which is why Polygon zkEVM has been put through a series of tests and audits. This technology uses zero-knowledge proofs to validate large amounts of transaction data before bundling and confirming them on Ethereum.
Polygon is not the only team working on a zkEVM solution. Scaling provider zkSync is developing similar EVM technology with its zkPorter, while Scroll is also building a zkEVM solution in collaboration with the Privacy and Scaling Explorations group, part of the Ethereum Foundation. The Ethereum Foundation is also funding a project called Applied ZKP, which aims to develop an EVM-compatible zk-rollup.
The team explained the significance of the technology, stating that true EVM-equivalence means Ethereum can be scaled “without resorting to half-measures.” This scaling tech also enables significant transaction cost savings. Proof costs for a large batch of hundreds of transactions are down to about $0.06 and less than $0.001 for a simple transfer.
Matter Labs, the firm behind Polygon, raised $50 million in a Series B round led by Andreessen Horowitz to build EVM-compatible zk-Rollups in November 2021. The announcement of the zkEVM mainnet launch has been met with enthusiasm, with Polygon’s native token MATIC gaining 5.3% over the past 12 hours or so.
The launch of the zkEVM mainnet marks an important milestone in the world of web3 and NFTs. The technology will make it easier for developers to create and promote NFTs, allowing them to reach a wider audience. It will also make it easier for NFT marketers and agencies to promote NFTs on Twitter, as well as other platforms.
The technology will also make it easier to sell NFTs, as the transactions will be faster and cheaper. This could open up a whole new world of possibilities for NFT creators, making it easier for them to monetize their creations.
Overall, the launch of the zkEVM mainnet is an exciting development in the world of web3 and NFTs. It will make it easier for developers to create and promote NFTs, as well as make it easier to sell them. This could open up a whole new world of possibilities for NFT creators, making it easier for them to monetize their creations.
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