Polygon Launches zkEVM Mainnet Beta, Will It Reduce Costs Of Ethereum Transactions?
Polygon Labs express which is set to impact the Ethereum network has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zKEvM) on Mainnet beta, a permissionless and public network allowing users to transact and build.
Polygon zKEvM is currently open source with launch Polygon is allegedly helping to pave the way for the next chapter of Ethereum's development and offering developers and users a new tool for building DeFi applications.
The Polygon zkEVM is a zero-knowledge proof scaling solution developed by the same protocol create to enable faster and cheaper transactions on the Ethereum network the public Testnet for zkEVM has established it as a leader among Ethereum Virtual Machine (EvM) equivalent ZK scaling solutions.
ZkEVM benefits are the use of zero-knowledge proof which ensures security and reduces gas fees. users are that zero-knowledge proofs enable transaction verification without revealing sensitive information making them highly secure.
With Polygon ZkEvM developers can easily deploy Ethereum smart contracts on the network facilitating developers to migrate their existing applications to zkEVM.
The Polygon refers to the risks of using zkEvM mainnet beta while the launch of the Mainnet is a significant development for the protocol.
To address these potential risks Polygon Labs has outlined stringent security measures, which include the establishment of a temporary security council that will be responsible for overseeing the network security and addressing any issue.
Furthermore, the launch of these new developments has been met with positive reception from the cryptocurrency community which could have a positive impact on MATIC price in long term.
Related: Polygon Labs and Immutable set to launch a new zkEVM to take huge incumbents exploiting players