Polygon (MATIC) Sets Date for Highly-Anticipated zkEVM Launch

Polygon co-founder Sandeep Nailwal gave no specific launch date but said that itโ€™s going to happen โ€œsoon.โ€

A Polygon symbolizing color purple hair girl wearing futuristic eyeglasses is looking up.
  • Polygon co-founder Sandeep Nailwal said on Twitter on Monday that the team developing its zkEVM scaling solution has set a launch date.
  • Nailwal didnโ€™t specify the launch date but said it would happen โ€œsoon.โ€
  • Polygonโ€™s zkEVM has been in testnet since October of last year.

Polygon (MATIC) is about to launch its highly-anticipated zkEVM Ethereum scaling solution on the Ethereum mainnet.

Polygon co-founder Sandeep Nailwal tweeted on Monday that the team developing Polygonโ€™s zkEVM has set a date for its release. He gave no specific date but said it would happen โ€œsoon.โ€

โ€œJust came out of a high level zkEVM Mainnet launch committee. Canโ€™t keep calm folks. WE HAVE A DATE for mainnet launch! And it'sโ€™ SOOON!โ€ he said on Twitter.

zkEVM, often called the holy grail of Ethereum scaling, stands for zero-knowledge Ethereum Virtual Machine, a type of scaling solution for Ethereum that incorporates zero-knowledge proofs to prove the correctness of smart contracts on the Ethereum Virtual Machine.ย 

Sponsored

In Polygon zkEVMโ€™s case, it will operate as a zero-knowledge rollup, meaning that it will take thousands of transactions off-chain, put them in batches, and send the batches to verify on the Ethereum mainnet. This way of verifying transactions increases the throughput and lowers transaction costs.

Polygonโ€™s zkEVM has been in testnet since last October. The team aims to release the first zkEVM on mainnet.

But Polygon isnโ€™t the only project planning to release a zkEVM on the Ethereum mainnet this year. Scroll, zkSync, and Consensys are also working on their own zkEVMs and plan to launch them sometime in 2023.

On the Flipside

  • โ€œSoonโ€ in crypto may mean different things to different teams. Itโ€™s unclear when exactly Polygon is planning to launch its zkEVM.

Why You Should Care

Polygon is a powerhouse when it comes to scaling Ethereum. If it successfully launches a fully functional zkEVM this year, Ethereum might finally be ready for mass adoption.

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.

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