Polygon sets late March launch date for its zkEVM mainnet beta
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The long-awaited scaling upgrade from Ethereum layer-2 solution provider Polygon (
The team explained the significance of the technology, stating that true EVM-equivalence means Ethereum can be scaled “without resorting to half-measures.”
“The best way to scale Ethereum is to preserve the existing Ethereum ecosystem: code, tooling, and infrastructure needs to just work. And that’s what Polygon zkEVM is aiming to achieve.”
The scaling tech also enables significant transaction cost savings. Proof costs for a large batch of hundreds of transactions are down to about $0.06 and less than $0.001 for a simple transfer, the team added.
Matter Labs, the firm behind Polygon, raised $50 million in a Series B round led by Andreessen Horowitz to build EVM-compatible zk-Rollups in November 2021.
Polygon’s native token, MATIC, has reacted positively to the announcement with a 5.3% gain over the past 12 hours or so. As a result, the token was trading for $1.24 at the time of writing, according to Cointelegraph data.
