Blockchain technology has revolutionized the way we transfer value, information, and assets across the internet. However, as the demand for faster and more secure transactions increases, so does the need for scalable solutions. One such solution is the zero-knowledge EVM or zkEVM. In this article, we’ll explore what zkEVM is, how it works, and what we can expect from it, according to Polygon’s technical lead.
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What is zkEVM?
zkEVM is a layer-2 scaling solution that uses zero-knowledge proofs to enable faster and more efficient transactions on Ethereum. It is based on the Ethereum Virtual Machine (EVM), which means it is compatible with existing Ethereum smart contracts and dApps. However, zkEVM brings significant improvements to the table, including faster transaction speeds, lower gas fees, and improved privacy.
How does zkEVM work?
zkEVM uses zero-knowledge proofs to enable trustless transactions on a layer-2 network. Zero-knowledge proofs are mathematical protocols that allow one party to prove to another party that a statement is true without revealing any additional information. In the case of zkEVM, this means that transactions can be verified without the need for a third-party intermediary or additional information.
One of the key advantages of zkEVM is its scalability. By processing transactions off-chain and then submitting a proof of the transaction to the main chain, zkEVM can significantly increase the transaction throughput while reducing the gas fees. This is achieved by bundling multiple transactions into a single proof, which reduces the computational cost of verifying each transaction individually.
What can we expect from zkEVM?
According to Polygon’s technical lead, the adoption of zkEVM is expected to grow significantly in the coming years. This is because zkEVM provides a more efficient and scalable solution compared to other layer-2 solutions such as optimistic rollups and state channels.
With zkEVM, developers can build more complex and data-intensive applications on Ethereum, such as decentralized exchanges, prediction markets, and gaming platforms. This is because zkEVM enables faster and more secure transactions with lower gas fees, making it an attractive option for developers looking to scale their applications.
In conclusion, zkEVM is a promising layer-2 scaling solution that uses zero-knowledge proofs to enable faster and more efficient transactions on Ethereum. It brings significant improvements to the table, including faster transaction speeds, lower gas fees, and improved privacy. With the expected growth in adoption of zkEVM, we can expect to see more complex and data-intensive applications being built on Ethereum, which will further drive the growth of the blockchain industry as a whole.