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Polygon zkEVM: EVM-Equivalence, Speed, Bridge Security, Low Costs
As different projects vie to bring their layer-2 Ethereum solutions to market, the competition among zero knowledge rollups is particularly exciting because of the as-yet-untapped technical possibilities. In advance of the beta launch of the Polygon zkEVM mainnet, developers are breaking out the key features of the fast, cheap and secure network.
Polygon Labs is preparing for the end-game of Ethereum scaling.
— Polygon Labs (@0xPolygon) March 6, 2023
Since we’re closing in on the launch of Polygon zkEVM’s Mainnet Beta, we wanted to break down what this next-gen system will unlock for the community, FEATURE BY FEATURE👇🏽
The Polygon Labs Twitter account retweeted a series of threads from Polygon ZK delving into the key aspects of their system, including EVM-equivalence, speed, bridge security and low costs.
Let’s take a quick look at each:
- EVM-equivalence: “Using Polygon zkEVM is basically like using Ethereum. Only faster. And cheaper.”
- Speed: “For a batch of 10M gas, the time for generating a proof on Polygon #zkEVM is under 2 minutes.”
- Bridge Security: Bridges typically rely on a “trusted intermediary,” but the Polygon zkEVM bridge will rely on “will rely on cryptography.” So “there’s no entity that can be attacked.”
- Low Cost: “The cost of proving a single Uniswap transaction on Polygon zkEVM is $0.0019.” But when dealing with batches of 250 tokens, the cost to an individual of sending one token is $0.0001.
Developers took one step closer to the imminent mainnet launch by closing down the Polygon zkEVM Testnet, graduating to the Audit Upgraded Testnet.
Goodbye zkEVM Testnet 👋
— Polygon ZK (@0xPolygonZK) March 7, 2023
In line with our announcement last week, the previous testnet would be available until Mar 06 ‘23. Today, it will be deprecated at 5:00pm GMT and will not be accessible. https://t.co/rxTfragMTP. 👇🏼
What is Polygon:
Polygon is a “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.
For more about Polygon:
Website | Twitter | GitHub | Reddit | YouTube