Polygon (MATIC) Sets Date for Highly-Anticipated zkEVM Launch

Polygon (MATIC) is about to launch its highly-anticipated zkEVM Ethereum scaling solution on the Ethereum mainnet.

Polygon co-founder Sandeep Nailwal tweeted on Monday that the team developing Polygon’s zkEVM has set a date for its release. He gave no specific date but said it would happen “soon.”

“Just came out of a high level zkEVM Mainnet launch committee. Can’t keep calm folks. WE HAVE A DATE for mainnet launch! And it's’ SOOON!” he said on Twitter.

zkEVM, often called the holy grail of Ethereum scaling, stands for zero-knowledge Ethereum Virtual Machine, a type of scaling solution for Ethereum that incorporates zero-knowledge proofs to prove the correctness of smart contracts on the Ethereum Virtual Machine. 

In Polygon zkEVM’s case, it will operate as a zero-knowledge rollup, meaning that it will take thousands of transactions off-chain, put them in batches, and send the batches to verify on the Ethereum mainnet. This way of verifying transactions increases the throughput and lowers transaction costs.

Polygon’s zkEVM has been in testnet since last October. The team aims to release the first zkEVM on mainnet.

But Polygon isn’t the only project planning to release a zkEVM on the Ethereum mainnet this year. Scroll, zkSync, and Consensys are also working on their own zkEVMs and plan to launch them sometime in 2023.

Polygon is a powerhouse when it comes to scaling Ethereum. If it successfully launches a fully functional zkEVM this year, Ethereum might finally be ready for mass adoption.

Sourced from dailycoin.com.

Written by on 2023-01-17 16:00:26.

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