Scaling Ethereum to New Heights: Launch of Polygon Labs’ zkEVM Layer 2

Polygon (MATIC): All You Need to Know
Source: Binance Academy

Since its establishment in 2017, Polygon has built a solid reputation as a dependable blockchain platform. Through various partnerships and the introduction of notable initiatives, Polygon Labs has also established itself as a reputable entity in the industry.

Ethereum scaling platform Polygon has recently unveiled the launch of its zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet beta to the public. The revelation was made public through one of its recent announcements. Ethereum co-founder Vitalik Buterin inaugurated it with the very first transaction on zkEVM’s mainnet beta.

Source: Polygon

Vitalik Buterin makes the first transaction on Polygon zkEVM

The Polygon zkEVM is an Ethereum scaling protocol that offers EVM equivalence, enabling users to utilize it similar to the Ethereum platform. This means that it can be easily implemented without requiring changes to languages or tooling.

According to the details from the announcement, the zkEVM mainnet beta will be permissionless, with everyone getting an opportunity to build and transact. The network has been under construction for over a year now and is now finally available to the public.

Polygon co-founder Mihailo Bjelic spoke in an interview: “With zkEVM, you will be able to deploy any Ethereum application without any modifications, using existing Ethereum developer tools like Remix, and interact with the network using standard wallets like Metamask.”

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Right from the launch, the mainnet beta is being utilized by infrastructure providers, dApps, and other projects, including Lens, balancer, Midnight Society, Oath of Peak, ANKR, Alchemy, Sequence, and The Graph.

However, the launch of zkEVM didn’t have any effect on the price of MATIC. At press time, MATIC is trading at $1.04, with a 4.89% drop in value over the last 24 hours.

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