Polygon Launches zkEVM, a Layer-2 Solution Built for Ethereum

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2022-07-21 06:42:41

Polygon launches ZK-Rollups scaling solution, zkEVM, compatible with EVM.

zkEVM: Layer-2 built by Polygon for Ethereum

On July 20, 2022, Polygon launched an expansion solution using ZK-Rollups technology, zkEVM. It is known that zkEVM will be compatible with the Ethereum Virtual Machine (Ethereum Virtual Machine), or rather, projects built on zkEVM will easily integrate with the Ethereum network.

ZK-Rollups is complex technology, used on blockchain to help process more transactions with lower cost. ZK-Rollups is one of the L2 solutions being widely used on Ethereum.

To understand more about Layer 2 solutions and the technology behind them, please read through the two detailed articles below:

Hermez co-founder Jordi Baylina was the strongest in the launch:

“Many people think that zkEVM is outdated, there is no competition among current L2s. No one trusts us.

But Polygon believes.”

zkEVM is still in the testnet phase and is expected to launch the mainnet by the end of 2022.

This is the latest development after Polygon “swallowed” $250 million to acquire Hermez, which is Ethereum’s L2 solution using ZK-Rollups.

MATIC price did not react too strongly to this news, currently trading around $0.92, down only about 1% in the last 24 hours.

4H chart of MATIC/USDT pair on Binnace at 07:00 PM on 20/07/2022

Synthetic CHK

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