- Polygon co-founder Sandeep Nailwal confirmed Polygon’s zkEVM launch date.
- Polygon’s zkEVM is set to be the first zkEVM to run on the Ethereum mainnet.
- zkEVMs are the holy grail for Ethereum scaling.
The cryptocurrency industry has had a very rough start to the year. With several crises such as the closure of crypto-friendly banks, many have given up hope of seeing better days.
However, despite all the recent turmoil, cryptocurrency companies continue to work toward their goals. One such company is Polygon, which has just confirmed the launch date of its long-awaited ethereum zkEVM scaling solution.
Polygon approves the March release of zkEVM
Polygon co-founder Sandeep Nailwal tweeted on Tuesday that the team had given final approval to release the zkEVM scaling solution on March 27.
zkEVM stands for Knowledgeless Ethereum Virtual Machine and is considered the holy grail for Ethereum scaling. zkEVMs aim to mimic EVM but make it more efficient with Zero proofs of knowledgecreating proof of transaction payments stored off-chain and thus lowering gas fees.
Polygon’s zkEVM is set to be the first such solution to launch on the Ethereum mainnet. While Matter Labs zkSync has already published its zkEVM solution On the mainnet a few months ago, many argue that it is not a complete launch because it is still not available to users.
However, “Who is the first?” It remains one of the most controversial questions in the zkEVM space.
MATIC reacted positively to the news but has since declined. It is currently trading at $1.16, down 6% on the day, according to data From CoinGecko.
MATIC is currently the eighth largest cryptocurrency by market cap. It has a market capitalization of $10.5 billion and recently surpassed Dogecoin (DOGE).
on the flip side
- Some argue that Polygon should postpone zkEVM due to the current adverse market conditions and regulatory uncertainty.
Why should you bother
zkEVM is the best way to scale Ethereum. If Polygon succeeds in launching zkEVM and it works as intended, it will be a significant milestone for the Ethereum community and the broader crypto industry.
Read more about the latest projects launched on Polygon:
Portal Fantasy is releasing a Closed Beta on Polygon
Read more about Binance’s problems:
Another blow: Binance suspends GBP services next month