- Polygon released the zkEVM scaling technology to the mainnet.
- Buterin initiated the first transaction and sent 0.005 ETH.
Polygon, the Ethereum layer-2 platform, released the Zero Knowledge Ethereum Virtual Machine (zkEVM) scaling technology to the mainnet on Monday. It reduced transaction fees and increased the throughput of Smart contract deployments.
Polygon stated that it makes all the aspects of its zkEVM open source, and the developers can study and share the code. It allows them to contribute to the zero-knowledge space with more innovation. Moreover, the equivalence with Ethereum means that developers can copy across the existing smart contracts to Polygon zkEVM.
Future of the Ethereum Ecosystem
Polygon’s zkEVM is the zero-knowledge rollup scaling solution that is equivalent to the Ethereum Virtual Machine. And this technology allows thousands of transactions to batched on the off-chain, with the proof containing the minimal data summary posted to Ethereum Mainnet.
Sandeep Nailwal, the Co-founder of the polygon, stated
“We want to be extremely aligned to the web3 ethos, and we want more experimentation.
Polygon shared the historic moment as VitalikButerin made his first transaction on Polygon zkEVM Mainnet Beta. According to the polygon team Vitalik Buterin, the co-founder of the Ethereum blockchain has initiated the first transaction on the new zkEVM. He sent 0.005 ETH to the random address, and the transaction was sent successfully. And also Buterin added Neil Armstrong’s famous words “ A few million constraints for a man, unconstraint scalability for mankind” in the transaction.
According to the polygon press release, Over 50 companies shared that they would build using the Polygon zkEVM technology. And Nailwal stated that it is a new technology, so we are going to put ample warnings for the users that please be cautious on this don’t bring their life savings into it immediately. And he also believes that the ZK technology is the future of the Ethereum ecosystem.