Polygon Launches zkEVM Solution on Ethereum Mainnet

Polygon Launches zkEVM Solution on Ethereum Mainnet

Defi news, News

The leading Ethereum scaling network Polygon launches its Zero-Knowledge Ethereum Virtual Machine (zkEVM), a new scaling solution based on Zero Knowledge (ZK) proofs on the Ethereum mainnet.

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According to Polygon Labs’ statement, Polygon zkEVM Mainnet Beta is “permissionless and public, EVM-equivalent, Fast finality, and Open-source.”

Polygon zkEVM was able to undergo extensive testing on the testnets, improving over time in terms of speed, cost, and security.

Polygon zkEVM plans to implement security measures in two distinct phases. A committed Security Council will be able to quickly upgrade Polygon zkEVM during Stage I of Mainnet Beta.

A number of steps will be taken in Stage II to ensure that users can be safeguarded if something goes wrong, but with more decentralization and without the Security Council with privileged access.

Users will soon be able to force transactions to Ethereum L1 in the event of failures, making the network resistant to network censorship. 

Polygon co-founders Sandeep Nailwal and Mihailo Bjelic noted that “zkEVM can be recognized as the ‘holy grail’ of blockchain scaling.”

Nailwal emphasized that the zkEVM will continue to be improved as more users come on board. In the coming months, bug bounties and more audits will also be announced.

Compiled by Coinbold

blockchain, ETH, Polygon