Polygon’s launch of its new Polygon zkEVM network is a significant development for the blockchain industry.
The new network enables faster and cheaper transactions than Ethereum’s own mainnet, which has been facing congestion and high fees for some time. The launch marks a significant milestone for Polygon, which has been developing the zkEVM network for some time, with the aim of creating a next-generation blockchain network that can scale decentralized protocols and software.
To mark the occasion of the mainnet launch, Polygon invited Ethereum creator Vitalik Buterin to send out the network’s first-ever transaction, which he did with a hidden message. Buterin set the gas limit on the transaction to 69,042, which Polygon Labs Head of Growth Sanket Shah described as making Buterin a “man of culture”. The gas limit number is potentially a reference to two meme numbers, 69 and 420.
Polygon’s co-founder Mihailo Bjelic has described zkEVM as the “holy grail” of blockchain scaling, as it pairs zero-knowledge rollups with full compatibility with the Ethereum Virtual Machine. This means that smart contracts can be easily moved over to the zkEVM network, which is a native complement to Ethereum. Other zkEVM networks are in development, with rival zkSync launching its own mainnet last week ahead of Polygon’s previously-announced move.
Overall, the launch of the Polygon zkEVM network represents an important step forward in the blockchain industry’s ongoing efforts to scale decentralized protocols and software. The new network’s ability to enable faster and cheaper transactions could help to drive wider adoption of blockchain technology, as it makes it more accessible to a broader range of users and use cases.