Polygon (MATIC) Announces Launch Date of Its Highly Anticipated zkEVM

Polygon said that it would launch its zkEVM beta on Ethereum mainnet on March 27.

A bunch of people looking up at a large purple coin
  • Polygon (MATIC) announced the launch date of its zkEVM Ethereum scaling solution.
  • The team said that its zkEVM would be fully EVM-equivalent, meaning that developers can deploy their protocols by just copy-pasting existing code.
  • Polygon will share more significant announcements in the coming months.

Polygon (MATIC) has announced the date it’s going to launch its highly-anticipated Ethereum zkEVM scaling solution.

Polygon, a household name in the Ethereum layer 2 space developing multiple scaling solutions, said in a blog post on Tuesday that it will launch its zkEVM beta on Ethereum mainnet on March 27.

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Polygon zkEVM Mainnet Beta is a huge leap for both Polygon and Ethereum. But the most exciting thing is that this is only the beginning. The day is fast approaching when ZK innovations will begin to revolutionize every aspect of the Polygon ecosystem.”

zkEVM, short for zero-knowledge Ethereum Virtual Machine, is an Ethereum scaling solution that uses zero-knowledge proofs to increase the throughput of the second-largest blockchain in the world. It takes multiple transactions off-chain, bundles them together, and sends a proof to Ethereum mainnet showing the validity of the transactions.

Polygon’s zkEVM is going to be fully EVM-equivalent. This means that developers can copy the code of their protocols on Ethereum mainnet and paste them on Polygon’s zkEVM to build without changing anything. 

Polygon also said that users should expect more significant announcements soon.

“Expect more announcements soon. Polygon zkEVM Mainnet Beta is a momentous occasion, but it’s not the only paradigm shift the Ethereum community will see within the Polygon ecosystem. Polygon’s ZK revolution is only beginning…”

Despite the news, Polygon’s MATIC barely moved.

MATIC Stays Flat After zkEVM News

While one would think such news as a zkEVM launch on mainnet would make a token pump, Polygon’s MATIC barely reacted.

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MATIC is currently trading at $1.23, up 0.5% in the last hour, according to data from CoinGecko.

However, MATIC has been one of the best-performing tokens since the start of the year. It’s up over 61% in the last month and a half and had at one point overtaken Dogecoin (DOGE) in terms of market cap size.

MATIC is currently the tenth largest token in the market, with an $11.1 billion market cap.

On the Flipside

  • Polygon’s zkEVM will be in beta at first. It’s unclear what “beta” means though the team said it would share more info in the coming weeks.

Why You Should Care

zkEVM is considered the holy grail of Ethereum scaling. Polygon’s announcement of its zkEVM beta launch on Ethereum mainnet is a huge milestone for the Ethereum community. However, users should be aware of potential scams related to Polygon and zkEVM in the coming weeks.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Arturas Skur

Arturas Skur is a cryptocurrency news reporter at DailyCoin who covers Web 3.0 domains, DeFi, and Ethereum Layer-2s. With over five years of experience in journalism and public relations, Arturas brings his critical thinking and analytical abilities to deliver insightful news stories. In his free time, he enjoys hiking, playing with his dog, and reading.