- Ethereum layer-2 solution provider Polygon announced the long-awaited scaling upgrade
- The system would be ready for the mainnet in the following month.
- Polygon zkEVM system has reached multiple milestones
Polygon, an Ethereum layer-2 solution provider, has announced the long-awaited scaling upgrade. In detail, the Beta launch of its zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet on March 27.
In a blog post, Polygon stated that the system would be ready for the mainnet the following month after three and a half months of battle testing. It has been marketed as seamless scalability for Ethereum and was released as a testnet last December.
Since 2020, the zk-rollup scaling technology has been under continuous development. During this time, the Polygon zkEVM system has reached multiple milestones, as noted by the development team.
Among these are:
- Over 5,000 smart contracts have been deployed.
- The generation of more than 75,000 zk-proofs.
- The creation of more than 84,000 wallets.
- The completion of two public third-party audits.
The team stated that security is the top priority, which is why Polygon zkEVM has been subjected to a battery of rigorous testing and audits.
The system employs zero-knowledge proofs – cryptographic confirmations that, in the context of scaling, allow platforms to validate vast quantities of transaction data prior to bundling and confirming them on Ethereum.
In other developments, the IMF warns El Salvador against increasing its exposure to Bitcoin. The IMF recommended that the government of El Salvador adhere to consistent budgetary restrictions and good governance standards and that the protections given by the Digital Asset Law be similar to those provided by conventional securities regulation.
