George from Jacksonville

Signed up at BC Game 33 minutes ago.

» Try BC Game too
Do not show again

The Ethereum blockchain has needed scaling for a while as Crypto Lists reported. The Polygon team believes the ideal way to materialise this concept is by utilising zero-knowledge technology (ZK). Polygon offers interoperability and a scaling protocol to launch Ethereum-compatible blockchains. The Web3 infrastructure provider, Polygon will be the pioneer of an Ethereum-compatible scaling solution using a cryptographic method. Matic teased the zkEVM at the Ethereum Community Conference for effortless integration with existing smart contracts, dAPPs, and wallets.

It often seemed that this would be a long and exasperating venture. Many believed that the cryptocurrency industry requires several years to develop Layer 2 solutions. This could provide scalability advantages of zero knowledge technology and compatibility with the Ethereum Virtual Machine Learning (EVM).

Polygon zkEVM has a vision with absolute EVM equivalence that is simple and easy to implement. Developers can easily install an Ethereum Smart Contract to layer 2 and scale it infinitely with ZK proof. All decentralised applications(dApp) or tools on Ethereum functioned similarly on a zkEVM. Developers and users will gain from the future benefits of ZK proofs. They still benefit from the familiarity of Ethereum through its decentralisation and security.

The Promises and Challenges of the ZK rollup
The primary approach in scaling Ethereum using ZK proof requires developing a ZK rollup. It is a layer 2 protocol that rolls up a large volume of transactions and evinces them to the Ethereum network using ZK Validity proof. There is great potential for the ZK rollup to scale Ethereum. A single transaction replaces several thereby increasing throughput, reducing latency, saving on fees, and other merits. However, this ZK technology has its own limitations.

The ZK rollup has performance limitations despite its promising technology. It is slow and costly to generate. You require to enhance the cost and throughput on the Ethereum mainnet significantly to scale Ethereum. Additionally, there are compatibility challenges with Ethereum. The ZK rollup may fail to run the code deployed on Ethereum. It may need learning a new coding language or participating in a new developer ecosystem to build an app with ZK rollup. There is also the possibility that you may not use the Ethereum 2 layer the same as Ethereum. Due to these challenges, conventional wisdom perceived that zkEVM requires more years to fulfill.

Rating: 9.5/10
Supply: 7,081,679,872 / 10,000,000,000
Release date: October 11, 2017

Description: How much do you know about Matic and Polygon? Discover the latest news, live prices and analysis from Crypto Lists. Read up here.

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.

The Polygon zkEVM addresses ZK rollup shortcomings
Polygon Zero Knowledge team delved deeper into finding a solution that combats the above challenges. The team has made major breakthroughs in performance and their teamwork has resulted in significantly improving proof generation period. The product of this hard work and commitment resulted in the Polygon zkEVM. It is ready for its prime time. Users and developers will experience significantly reduced costs and increased speeds to facilitate their usage.

There is a major thrill over the EVM equivalence of Polygon zkEVM that users and developers are looking forward to the experience. They would be able to build and develop in a similar way they would build on Ethereum. Users can easily deploy Ethereum Smart Contracts similar to how they deploy in Ethereum. In practice, every tool and decentralised application that functions with Ethereum will work on Polygon zkEVM. Everything you would do on Ethereum is applicable on Polygon zkEVM at a higher speed and lower cost. It shall be validated on the Ethereum network using the ZK Validity Proof. It functions just like Ethereum but with ZK scalability.

Mihailo Bjelic, the co-founder of Polygon insists that the basic foundation of Web3 infrastructure are scalability, security, and Ethereum compatibility. He describes Polygon zkEVM as a breakthrough technology that can finally achieve all these fundamentals. Previously, it was not practically possible to offer these fundamentals all at once. It shall reduce Ethereum costs by an estimated 90% with an expected increase in throughput to 2000 transactions per second. According to Bjelic, this would slightly surpass with global payments processor, VISA with an average processing speed of 1700 transactions per second. The co-founder envisions Ethereum as the foundation of Web3 and it is clear that Ethereum requires to surpass VISA’s TPS to achieve this.

Crypto Lists learns that Polygon has promised to deliver and will release further documentation to elaborate its implementation. The test net is expected to go live soon for Polygon’s developers and community to explore possibilities and upgrade based on improvement suggestions. The mainnet launch is to be in early 2023.

by Our Certified Author
Polygon Coin Newsflash
    Deposit with AVAX and MATIC on Crazy Bit's no-KYC casino nowDeposit with AVAX and MATIC on Crazy Bit's no-KYC casino now
    Monday, 27 May 2024 7:58 am
    Do you feel like going a little loco with your crypto on a no-KYC casino (see all) that doesn't require any documentation when you deposit or withdraw, ever? Sounds like a plan. The one we've got in mind is genuinely something a little wacky. In all the right ways of course. Have you heard of Crazy Bit (see more)? If not, then you have now so there's no excuses not to take a proper look! It supports a load of niche cryptos that aren't that commonly found on bitcoin and crypto casinos like Fantom and AVAX. Very impressive, very nice - if we're embracing our inner Patrick Bateman meme. Sign up in just 10 seconds without even a password needed at first and no KYC...
    Read the full newsflash

    ETH Play gets 172 Pragmatic Live casino gamesETH Play gets 172 Pragmatic Live casino games
    Wednesday, 6 Mar 2024 6:13 pm
    ETH Play (learn more) keeps adding interesting games to their library. Now, you can play both 366 games from Pragmatic Play and 172 from Pragmatic Play Live. Some of the newly added live casino games include Vegas Ball Bonanza, Emerals Speed Blackjack, Speed Baccarat with no commission, Italian Roulette and roulette with an Indian dealer. There is also German, Russian, Macau based and Dutch live dealers. What do you prefer? Check out the no KYC casino called ETH Play where you can sign-up and get started in 10 seconds. All they ask for is your email...
    Read the full newsflash

    Big Bass Bonanza from Pragmatic Play win best gameBig Bass Bonanza from Pragmatic Play win best game
    Friday, 9 Feb 2024 1:07 pm
    There are multiple fishing games and many new ones coming, but only one original - Big Bass Bonanza from Pragmatic Play. Yesterday evening, the previous mentioned online fishing slot won the game of the year on the last IGB gaming show in London before it moves to Barcelona. What is this game about? Well, it's a simple 5x3 videoslot with only 10 paylines, but you can win big if you catch that huge fish in this slot with 96.71% RTP. Players enjoy that random symbols can turn into fish symbols, and hopefully create a big win. You can try Big Bass Bonanza at the anonymous Scandinavian founded No KYC casino called Betpanda IO or at the licensed and combined crypto betting site Bets IO that also...
    Read the full newsflash

    3 Bitcoin casinos to try the great Drops & Wins tournament!3 Bitcoin casinos to try the great Drops & Wins tournament!
    Tuesday, 30 Jan 2024 8:05 am
    Have you heard of Pragmatic Play (see more), the awesome developer? Well, if you have not then simply click on the blue link in this newsflash! They are the founders and hosts of a cross-platform tournament known as Drops & Wins that you might have seen on various sites you frequent. It's a concept that started in January 2020 and has continued to be a player’s favourite ever since. The best bit? It's got largest prize pool in the industry worth €30,000,000 in total for one year. But where to play? First up is the totally anonymous 777 Crypto Casino (try it) where you don't need to provide KYC at any point and you also have a 3000 USDT welcome waiting for you. Second on our juicy list is the legendary LTC Casino (sign up), another site without a single shred of KYC needed where you can get playing in seconds with just a username and password. Not to mention that it's the most beloved site on Crypto Lists by our players! Last but not least is the one and only Bombastic (play now) from Shaggy. We're kidding about that, but what's not a joke is how good it is. A super fresh and clean design combined with a 30,000 USDT + 100 free spins welcome bonus. Absolutely audacious. So, if you want to try Drops & Wins and...
    Read the full newsflash

    Pragmatic Play casinos: 600 000 USDT in Halloween prizesPragmatic Play casinos: 600 000 USDT in Halloween prizes
    Saturday, 28 Oct 2023 5:50 am
    One of the best competitions this Halloween period comes from Pragmatic Play. While the bets are higher than in other competitions - you need to stake at least 0.5 USDT on every bet - the rewards are also way bigger than most other casino rewards this Halloween period. You can play any Candyland or Halloween games in order to be eligible and can win random prize drops in the range of 10 up to 10 000 USDT, where the total prizes given out is staggering 600 000 USDT - which means that a lot of players will be lucky and get some unexpected prizes. Sign-up for a Pragmatic Play Casino such as our favourite LTC Casino, thanks to their game selection and anonymous features. Alternatively, try Bet Panda IO that offer instant payouts and no KYC. Lookin' for something sweet? Play it, don't eat. The rewarding jackpot slot Sugar Rush is one of the most popular jackpot games from Pragmatic Play and it's part of the Halloween competition and you can play it here. Give it a try, it's only Halloween weekend with those amazing...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
Keep up to date with

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
* indicates required
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top