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Upgrade zkEVM
Polygon Labs, the developer of the crypto asset (virtual currency) Polygon (MATIC), announced on the 8th that it has released the next generation “Polygon zkEVM”.
The new Polygon zkEVM can be used to create proofs on any chain that is compatible with the Ethereum (ETH) Virtual Machine (EVM). He said that by utilizing this technology, it is possible to reduce transaction costs and speed up the creation of proofs.
Releasing the Type-1 upgrade to the zkEVM prover, the next generation of Polygon's proving tech. It can generate proofs for any EVM chain—sidechain, optimistic rollup, even Ethereum itself.
When proving Ethereum mainnet blocks, avg per-transaction costs are $0.002 – $0.003.… pic.twitter.com/KDX8XIiwyh
— Polygon (@0xPolygon) February 8, 2024
The new solution announced this time is named “Type 1 Prover.” By using Type 1 mode with Polygon zkEVM, it is possible to obtain the benefits described above.
The term Type 1 is based on an analysis published by Ethereum co-founder Vitalik Buterin in August 2022. The development of the L2 network on Ethereum is progressing, and there are multiple projects that claim to be compatible or equivalent to EVM, and at this time Mr. Buterin categorized the zkEVM developed by each project in order of its proximity to Ethereum.
zkEVM is EVM that introduces zero-knowledge proofs. “L2 networks are compatible and equivalent” means that applications on Ethereum can be easily deployed on the L2 network. Type 1 is an EVM that Buterin classified as “completely equivalent to Ethereum.”
connection:What is the evolution of the virtual currency Ethereum, Mr. Buterin's ZK-EVM integration proposal and the future of Layer 2?
What is a polygon?
A project that addresses Ethereum's scalability issues. The company has developed multiple solutions such as “Polygon PoS” and “Polygon zkEVM,” which are being adopted by major companies.
Virtual currency glossary
Overview of Type 1 Prover
Type 1 Prover was co-led by Polygon Labs and technology company Toposware. The solution was released as open source on the 8th.
He explained that this solution can lower blockchain transaction costs, increase processing speed, and improve user experience. This technology targets existing L1 blockchains and Optimistic Rollups' L2 chains.
For example, Type 1 can currently prove existing Ethereum blocks for an average of $0.002 to $0.003 per transaction, but with further development and optimization, it could become 30 to 50 times cheaper next year. It is claimed that there is.
Polygon co-founder Brendan Farmer commented to CoinDesk as follows:
High-performance Type 1 zkEVM has been viewed as impractical or too expensive.
Polygon has once again proven that it is an industry leader in the development of zero-knowledge proof technology by delivering a highly efficient Type 1 zkEVM.
connection: Polygon developer Polygon Labs cuts employees by 19%, optimizes team size
The post Polygon releases next-generation “Polygon zkEVM” to achieve parity with Ethereum appeared first on Our Bitcoin News.
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