The Polygon team introduced a new solution for zkEVM scaling

The Polygon project introduced zkEVM, a new technology for scaling transactions in the Ethereum blockchain.

The solution uses zero-disclosure proof-of-concept in transaction bundling. The technology is fully compatible with smart contracts, instruments and wallets of the second most capitalized cryptocurrency.

zkEVM is in the testing phase, scheduled to launch in early 2023.

“The holy grail of Web3 infrastructure must have three main features: scalability, security and compatibility with Ethereum,” Polygon co-founder Mihajlo Bjelic said in a statement obtained by Decrypt.

He described zkEVM as a “breakthrough technology” that opens “a new chapter of mass adoption. The solution will make translations cheaper and increase network capacity.

“It’s hard to provide a performance comparison for zkEVM at this stage, but we’re working to increase [throughput] to about 2,000 TPS,” Bjelic said.

MATIC token reacted to the news with a slight decline – during the last day the asset lost 1.5%. In seven days the growth was 69.2% (CoinGecko)

In November 2021, Polygon announced a new Layer 2 (L2) solution for Ethereum based on ZK-Rollups and released its central component, a virtual machine that uses the zk-STARKs protocol as its underlying proof-of-concept.

The project had previously absorbed the Hermez Network platform, which also specializes in L2 based on ZK-Rollups. In December, Polygon acquired Mir Protocol, a startup that develops Ethereum scaling solutions.

Recall that on July 18, Bjelic posted a tweet announcing an important event, against which MATIC rose 26.8% overnight.