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Polygon Co-founder Confirms Date for Ethereum Scaling Solution Mainnet Launch

Wed, 02/15/2023 - 12:33
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Tomiwabold Olajide
Polygon co-founder says to expect more this year
Polygon Co-founder Confirms Date for Ethereum Scaling Solution Mainnet Launch
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Polygon co-founder Mihailo Bjelic on Twitter has confirmed the launch date of the Polygon zkEVM Mainnet Beta to be March 27.

"It's official: The Polygon zkEVM mainnet will be launched on March 27. After more than a year of intense and inspiring research, development, and testing, we are incredibly proud to launch the first ever zkEVM mainnet," Bjelic stated.

"Expect a lot more this year," the co-founder of Polygon said in response to a user's comment.

Over the next few weeks, Polygon Labs says it will be releasing more details about the Polygon zkEVM Mainnet Beta.

Several milestones reached

The testnet of the Polygon zkEVM, which deploys the Ethereum Virtual Machine (EVM) for its ZK rollup, was launched in October and has reached several milestones, which were stated in a blog post.

Proof generation times have been reduced to nearly two minutes. The Polygon zkEVM has also garnered nearly 84,000 wallets, and over 300,000 blocks have been produced by the protocol. In this, over 75,000 ZK proofs were generated and 5,000 smart contracts were deployed.

Another noteworthy achievement was the reduction of proof costs for a sizable batch of transactions to around $0.06 (less than $0.001 for a straightforward transfer).

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A sort of zero-knowledge (ZK) rollup, ZkEVMs process transactions more quickly on Layer 2 before sending the transaction data back to the mainnet blockchain.

Many consider zero-knowledge (ZK) technology to be a significant advancement for blockchains in that it will speed up and lower the cost of transactions.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.