Polygon (MATIC), An Ethereum Layer-2 Solution Provider, has at last Revealed the Eagerly Awaited Scaling Update that has been in the works for a long while. The Beta launch of its zero-Knowledge Ethereum Virtual Machine (zkEVM) Mainnet is Scheduled for Walk 27.
Polygon said in a blog entry that was Distributed on February 14 that after three and a half months of “Battle Testing,” the platform would be prepared for the launch of the Mainnet the following month.
It was first released as a Testnet in December of the earlier year and has since been Marketed as “consistent versatility for Ethereum.”
Starting from the Start of ten years, work on the Scaling Strategy known as zk-rollup has been Continuously Progressing. In that range of time, the Polygon zkEVM system has accomplished a number of Significant goals, as referenced by the team.
Among them are the Implementation of in Excess of 5,000 Smart Contracts, the Production of more than 75,000 zk-proofs, the Creation of in excess of 84,000 wallets, and the Completion of two public outsider audits.
The Group said that Maintaining a Solid Environment is their first concern, which is “the reason Polygon zkEVM has been Exposed to a battery of testing and audits,” as they put it.
This Strategy Utilizes zero-knowledge proofs, which are Cryptographic Confirmations that, in the context of scaling, allow platforms to Verify Colossal Volumes of Transaction data before Packaging them up and Confirming them on Ethereum.
There are Different Teams than Polygon that are Toiling away at a zkEVM Solution. A solution that is similar to EVM is being created by the scaling provider.This product gets key transaction data off-chain.
Scroll, another Company that Specializes in scaling solutions, is also Developing a zkEVM solution in conjunction with the Ethereum Foundation’s Privacy and Scaling Explorations group.
Additionally, the Ethereum Foundation is providing supporting for a project known as Applied ZKP. This project’s goal is to create a zk-rollup that is compatible with the EVM.
The Group elaborated on the Pertinence of the technology by Claiming that genuine EVM-equality indicates that Ethereum may be scaled “without agreeing to half-measures.”
The Easiest Approach to Develop Ethereum is to maintain the present Ethereum Ecosystem, and that Implies that the Code, Tools, and Infrastructure all need to Function Consistently Together. Also, that is exactly what the Polygon zkEVM project desires to do.”
The Scaling Technology offers huge decreases in the costs of individual Transactions. According to the Researchers, the expenses of providing proof for an Enormous batch of many transactions have been diminished to around $0.06, while the costs for providing proof for a straightforward transfer are under $0.001.
In November 2021, the company that is liable for Polygon, Matter Labs, completed a Series B funding round that was lead by Andreessen Horowitz and received $50 million.The funds will be used to make EVMs compatible with zk-Rollups.