All current Ethereum applications will operate with the Layer 2 network. The Zero-Knowledge Ethereum Virtual Machine (Polygon zkEVM Scaling Solution ), an updated scaling solution for Ethereum based on Zero Knowledge (ZK) proofs, has been made available by the Ethereum scaling network Polygon.
By utilizing cutting-edge cryptography known as Zero-Knowledge proofs, zkEVM would be the “first Ethereum-equivalent scaling solution that works smoothly with all existing smart contracts, developer tools, and wallets,” according to Polygon.
The new scaling approach will imitate the Ethereum Virtual Machine at the op-code level and work with all current Ethereum apps.
Developers will now be able to launch their projects using Ethereum’s programming language, according to an official press release of the launch. The Polygon Zero-Knowledge Ethereum Virtual Machine will also work with existing Ethereum tools like the MetaMask wallet and development environments like Hardhat.
The co-founder of Polygon, Mihailo Bjelic, commented on the development, saying that the “holy grail of Web 3 infrastructure should have three major properties: scalability, security, and Ethereum-compatibility.”
“Offering all of these properties at once has hitherto not been feasible from a practical standpoint. A ground-breaking technique called Polygon zkEVM finally does that, ushering in a new era of widespread adoption “Bjelic threw in.
• Zero-Knowledge Rollups will be used by Polygon zkEVM.
• The remedy will significantly lower the cost of gas.
• Several significant Web3 projects are preparing to debut on Polygon’s zkEVM.
Only About 15 Transactions May Now Be Made of Ethereum Per Second
Rollups such as Polygon zkEVM enable Ethereum to expand the network’s functionality by enabling speedy and inexpensive transactions without sacrificing the network’s most crucial security.
The new service will batch transactions and confirm them on the Ethereum main net using Zero-Knowledge Rollups. Gas prices on the Polygon Zero-Knowledge Ethereum Virtual Machine will be considerably cheaper than those on the Ethereum main net and eventually the Polygon network as a result.
Multiple layer-2 transactions are combined into one via zero-knowledge rollups, which use Ethereum as validity proof. Zero-knowledge roll-ups are faster and more scalable, despite being computationally demanding.
By year’s end, the product is anticipated to be available on the Ethereum mainnet. Significant Web3 applications like Uniswap intend to launch on zkEVM.