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Polygon Releases a New zkEVM Scaling Solution

ByLouis Adams

Jul 21, 2022 #Blockchain
Reading time: < 1 minute

The team of developers behind the Polygon project has recently introduced zkEVM, a new technology for scaling transactions on the Ethereum network.

According to them, the solution uses zero-knowledge proof when bundling transactions. The technology is fully compatible with smart contracts, tools and wallets of the second largest cryptocurrency by capitalization.

zkEVM is in the testing phase and is expected to be launched in 2023.

Polygon co-founder Mihailo Bjelic has said:

“The holy grail of a Web3 infrastructure should have three main properties: scalability, security, and interoperability with Ethereum.”

According to him, zkEVM is a a “breakthrough technology” opening “a new chapter in mainstream adoption”. The solution will reduce the cost of transfers and increase network bandwidth.