Bullish News For Polygon! zkEVM Mainnet Is Coming Soon, Says Co-Founder

Jake Simmons

2 years ago

2 mins read

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Polygon, an Ethereum layer-2 solution, has recently seen massive hype due to notable partnerships with major brands such as Starbucks, Mercedes, Meta, Reddit, eBay, Disney, and Adobe, among others.

And the team led by Sandeep Nailwal, co-founder of Polygon, continues to work hard to keep that hype going. Via Twitter, Nailwal shared a massively bullish news today. He wrote:

zkEVM passing 99.5% of Ethereum test vectors putting Polygon zkEVM at extremely high EVM-equivalence.

This is also reflected in the dev experience where 1000s of solidity smart contracts have been deployed on zkEVM without any changes whatsoever. Running towards mainnet soon!

Narwal referred to David Schwartz, who is the project lead of the Polygon Hermez team. Schwartz announced in this thread that Polygon’s zkEVM is making tremendous progress.

“Currently, we are passing 99.5% of Ethereum test vectors that apply to our type-3 implementation (9,650+ tests passed),” wrote the project lead of team Hermez.

Polygon zkEVM is a complete EVM-equivalent L2 zk-rollup Ethereum scaling solution. On it, users have deployed more than 3000 smart contracts without friction or transformation.

“Their dApps work seamlessly, with over 20K transactions,” Schwartz added, further explaining that the test network zkProver has provided more than 12,000 complete proofs of validity for these arbitrary user transactions.

This Is Why The zkEVM Is Such A Big Deal For Polygon

Layer-2 scaling solutions for the Ethereum blockchain have seen a gigantic growth in transactions in 2022. And the trend is projected to continue.

Layer 2 growth this year has been monumental.

I expect this trend to continue in 2023 and beyond. pic.twitter.com/wamQOPicuD

— Miles Deutscher (@milesdeutscher) December 7, 2022

Meanwhile, Polygon has established itself as one of the leading scaling solutions. Of all the solutions, Polygon has forged the most notable and largest partnerships to grow the Ethereum ecosystem.

And the zkEVM. a zero-knowledge Ethereum Virtual Machine (zkEVM), could further cement this position for Polygon.

The zkEVM is operating zk rollups. This smart-contract technology bundles transactions from the Ethereum ecosystem and sends them to the Ethereum mainnet as a single transaction.

In this context, the zero-knowledge cryptography is both a privacy measure and a data minimization measure. A zero-knowledge proof makes it possible to retain full security without revealing the data necessary to do so.

Remarkably, the Polygon zkEVM maintains full Ethereum compatibility. Until now, zk rollups with full Ethereum compatibility were deemed difficult to program. In this respect, the development of Polygon is a major milestone.

Once the zkEVM mainnet comes online, there could be an explosion of dApps on Polygon. And the price of MATIC could profit big time from it.

However, at press time, MATIC was trading at $0.88, following the broader market sentiment.

PolygonMATIC USD 2022-12-07 — MATIC price, 1-day chart. Source: TradingView

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

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