• Polygon (MATIC) has recently revealed the launch date for its zero-knowledge Ethereum Virtual Machine (zkEVM) beta mainnet—March 27th, 2023.
• zkEVMs are a scaling solution that allows blockchain networks to process transactions faster and reduce the cost of transactions on Layer 2.
• The project promises additional information about the beta network will be released as the launch date approaches in weeks to come.
Polygon Announces Launch Date for zkEVM Mainnet Beta
Polygon (MATIC), a well-known Ethereum scaling project and one of the largest crypto projects in the industry, has announced an exciting new development. According to its blog post, the project has selected a launch date for its zero-knowledge Ethereum Virtual Machine (zkEVM) beta mainnet to go live: March 27th, 2023.
What is ZK Technology?
Zero-knowledge technology is viewed by many as a major turning point in blockchain technology, as it offers improvements to cryptography and blockchains that reduce transaction costs and increase their speed. This is especially important for Ethereum, as it will enable further scalability beyond what is possible on Layer 1.
What Does The Beta Network Include?
While Polygon’s blog post did not specify what exactly the beta network will include yet, it did say that additional information will become available as we approach the launch date in weeks to come. It also mentioned that security remains priority above all else when it comes to this upcoming release.
How Does ZK Technology Work?
ZK technology works by allowing blockchain networks to process transactions on Layer 2 much faster than would normally be possible with just Layer 1 alone. After processing on Layer 2, transaction data goes back onto Layer 1 so that everything can be recorded properly and securely within a shorter amount of time when compared with traditional methods of dealing with transactions within blockchain networks.
Conclusion
The upcoming release of Polygon’s zkEVM Mainnet Beta marks an important milestone in Ethereum scalability and could potentially have major implications on how blockchain networks are able to handle large numbers of transactions while maintaining high levels of security and efficiency at low costs. With more details expected soon regarding what features will be included in this release, we can look forward to seeing how zk technology revolutionizes cryptocurrency over the coming months ahead!