Polygon zkEVM leads to Ethereum layer 2.
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Polygon has announced Polygon zkEVM, the first fully Ethereum-compatible Layer 2 network. Polygon zkEVM uses zero-knowledge coils to offer lower transaction fees than the Ethereum mainnet. The Layer 2 network will be compatible with all Ethereum applications and emulate the Ethereum virtual machine at the op-code level.
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Polygon's new Layer 2 network is set to launch a test network this summer before full mainnet service launches in early 2023.
Polygon shows EVM-compatible layer 2
Polygon has announced a new Layer 2 network compatible with Ethereum.
Announced at the fifth Ethereum Community Conference in Paris on Wednesday, Polygon zkEVM is the blockchain company's first fully Ethereum-compatible Layer 2 network.
Unlike the MATIC blockchain, which is an Ethereum sidechain rather than a Layer 2 network, Polygon's new offering uses a zero-knowledge package to split and verify transactions on the Ethereum mainnet, inheriting the security and decentralization of the base chain. As a result, gas fees on Polygon zkEVM will be much lower than on the Ethereum mainnet and ultimately on the MATIC blockchain.
Polygon zkEVM will be compatible with all Ethereum applications and emulate the Ethereum Virtual Machine at the op-code level. Developers can launch their projects using Ethereum's programming language, Solidity. Breaking the barrier of entry key. Additionally, Ethereum tools such as the MetaMask wallet and development environments such as Hardhat will be compatible with Polygon zkEVM.
“Many believed that zkEVM was years away or not practical or competitive,” said Jordi Baillina, founder of Polygon Hermès. While zero-knowledge-based display solutions have been discussed for some time, it was widely expected that they would take years to implement. However, Polygon and other companies Building on Layer 2, the likes of StarkWare and Matter Labs have made significant strides in the ZK-Rollup space over the past year as Ethereum's scaling run continues to intensify.
Polygon's new Layer 2 is a continuation of the Hermes network, a solid solution based on ZK-Rollup. In the year He acquired it in August 2021 for $250 million. Following the acquisition, Hermès Network was transformed into Polygon Hermès and In his new role as administrator, he continued to work on the Layer 2 network. Now, after switching to Polygon's zkEVM, the network is preparing to launch a public testnet later this summer ahead of a full mainnet launch planned for early 2023.
Disclosure: At the time of writing this piece, the author owns ETH and several other cryptocurrencies.
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