Polygon (MATIC), a major scaling platform for Ethereum based on the decentralized network has made a major announcement for the Ethereum community.
Polygon has announced that it has launched the public testnet of zkEVM. The decentralized scalability provider has revealed that the particular platform would act as an “Ethereum-equivalent” once it is fully operational.
The purpose of the particular upgrade would be to provide cross-compatibility, which would offer its utility for multiple features. The major features it is going to offer are cross-compatibility for wallets, developer tools, and existing smart contracts for Polygon and Ethereum PoS.
Information about zkEVM
The upgrade “zkEVM”, stands for zero-knowledge Ethereum Virtual Machine, which exists as a layer-2 construction.
The particular upgrade has been constructed over the Ethereum network and its aim is to offer improved scalability. The testnet has been launched by the zero-knowledge research and development team of Polygon.
The team has implemented the testnet of zkEVM to offer an open-source implementation that would be equipped with all the features.
Major decentralized and crypto-based projects have been confirmed to take part in the particular testnet for zkEVM.
Some of the major projects participating in the testnet include decentralized finance protocols such as Uniswap (UNI) and Aave (AAVE).
Other major projects include Midnight Society, a gaming studio, and Lens, which is a major Web3 social platform. Over time, these platforms would proceed with the implementation of the zkEVM testnet.
Mihailo Bjelic’s Invitation
Mihailo Bjelic, the co-founder of Polygon has welcomed the entire cryptocurrency community to participate in the public testnet.
The aim is to run all the features offered through the new update and see if there are any bugs or problems that need fixing before the mainnet implementation.
As per Bjelic, the testnet is of very high significance to the entire platform and they would appreciate it if as many projects participated in it. This way, the testnet would become a success and it would also fast-track the implementation of the mainnet.
Significance of zkEVM
The major utility of the zkEVM is its equivalency with the EVM which is not partial. It is fully equivalent to the EVM and with the help of the feature, it would need no translation, tools, or programming languages for migration.
The developers would be able to migrate their platforms to zkEVM without facing any issues or obstacles. One of the major features of zkEVM is that it lets the developers access the zk-Prover mechanism, which is available through the completely open source.
Polygon’s Ultimate Goal
With the implementation of the upgrade, Polygon aims to offer users decentralized applications through the Ethereum platform that offer multiple benefits.
The making of these applications would prove to be very easy and convenient followed by the low fees they would incur while creating the DApps.
The major highlight of the Polygon zkEVM is that it would offer greater efficiency to the users for generating strong capital.