Polygon, formerly Matic Network, has announced its much-anticipated mainnet beta launch of its zero-knowledge Ethereum Virtual Machine (zkEVM). This development is expected to improve the scalability of decentralized applications (dApps) built on the Polygon network while enhancing its overall performance.
According to the official blog post, the Polygon zkEVM will allow the integration of a layer 2 scaling solution to the Ethereum network. This is made possible through the implementation of zero-knowledge proofs, a technique that enables the validation of data without revealing the data itself.
The zkEVM mainnet beta launch will also bring increased security and privacy to dApps on the Polygon network. With this launch, Polygon will provide developers with a more efficient, cost-effective, and scalable infrastructure to build their decentralized applications.
Understanding the Ethereum scaling technology
Polygon zkEVM comes with several exciting features, such as instant finality, gas efficiency, and low transaction fees. These features will significantly enhance the user experience for developers, making it easy for them to build dApps that can handle a large volume of transactions without compromising on speed or security.
Additionally, the Polygon zkEVM is compatible with existing Ethereum developer tools such as Metamask, Remix, and Truffle, making it easy for developers to get started with the technology. This compatibility also means that developers can easily migrate their Ethereum dApps to the Polygon network without hassle.
The Polygon team has been working tirelessly to enhance the scalability and efficiency of its network. The launch of the Polygon zkEVM mainnet beta is a significant step towards creating a more scalable and accessible infrastructure for decentralized applications, which comes at a time when the Ethereum network is facing significant scalability challenges due to its limited transaction processing capacity. As more dApps are built on the network, the need for scalable solutions becomes more pressing. With this launch, Polygon is offering a solution that could help alleviate some of these challenges.
Polygon’s MATIC token seems stuck in a rut as it continues to face a price stalemate amidst the broader bearish trend in the crypto market. Despite the community’s usual fervour that often triggers a significant surge in the price of MATIC, the digital asset was spotted trading at a meagre $1.03 at the time of writing.
The coin had incurred a loss of 6.22% over the last 24 hours and plummeted by more than 12.2% over the past seven days. It nonetheless preserves its status of being a target of big investors while inspiring hope that the launch of the zkEVM will serve as a major catalyst, positioning Polygon as the go-to blockchain for mainstream Web 2.0 companies.