Web3 infrastructure provider, Polygon recently announced the launch of Polygon zkEVM (zero-knowledge Ethereum Virtual Machine). This is described as the first scaling solution that is Ethereum-compatible that uses the cryptographic method called zero-knowledge proofs.

Polygon, previously known as Matic Network, is an interoperable scaling protocol that launches blockchains that are Ethereum-compatible. It’s most important component is Polygon SDK, a flexible framework that supports the building of different types of decentralized applications (dApps).

Polygon first hinted at zkEVM in July 2022 at the EthCC in Paris. They said that zkEVM was designed to effortlessly work with any existing smart contracts, wallets and developer tools. They also mentioned that zkEVM creates less user friction by eliminating the need of modifying or re-implementing any code.

Co-founder of Polygon Mihailo Bjelic described zkEVM as breakthrough technology that will open a new chapter of mass adoption. Polygon’s zkEVM mainly promises a huge reduction of Layer-1 Ethereum network costs and an accelerated increase in throughput capacity while still maintaining the security of the Ethereum blockchain.

Bjelic told Decrypt (a cryptocurrency media house) that Polygon are working to increase througput performance to up to 2,000 transaction per second (tps). This will be on par with Visa which processes up to 1,700 transactions per second, a benchmark Ethereum will have to surpass to become the face and foundation of web 3.0.

He also added that the future roadmap for zkEVM will include improvements in throughput. Ethereum currently achieves a maximum throughput of 30 tps but this will significantly increase after Ethereum’s transition to PoS. zkVEM will be deployed on the public testnet later in the summer and will be launched on the mainnet early in 2023.

Featured Image Source: www.cointelegraph.com