Polygon (MATIC) ZkEVM Launches: Here's How Much Transactions Cost Here
Polygon (MATIC) zkEVM, a novel Layer-2 scalability solution based on cryptographic zero-knowledge proofs (ZKPs), will process Ethereum (ETH) transactions with unmatched speed and resource-efficiency. Cryptocurrency veteran Eduardo Antuña, a core developer of Polygon (MATIC) zkEVM shares details of its testing.
Polygon (MATIC) zkEVM can process 10,000 transactions for $1, core dev says
On Feb. 9, 2023, Antuña took to Twitter to share details about the stress-testing of Polygon (MATIC) zkEVM, a hotly-anticipated scaling development by Polygon Network.
Really excited about our results on the @0xPolygon zkEVM Prover! Batchproof 2:30 (2min soon) ~500 or ~250 ERC20 tx/batch🚀On a spot m6id.metal prover's cost: $0.064/proof ($0.0001/tx) The fastest ZK tech and the first production-ready zkEVM💪The prover is no longer a bottleneck🍾
— Eduardo Antuña 🦇🔊 (@eduadiez) February 9, 2023
According to the statistics provided by the developer, the prover mechanism of Polygon (MATIC) zkEVM now only spends 2.5 minutes to validate a batch of 250-500 transactions of Ethereum-based ERC-20 tokens.
This design allows to dramatically reduce transactional fees. Should it be rolled out on an m6id.metal instance (cloud computer with 128 vCPU, 512 GB RAM, 4x1900 NVMe SSD and 50 GB per second bandwidth), it will only charge a transaction with a $0.0001 fee.
Antuña highlights that so far this design is the world's fastest zero-knowledge technology and the first-ever production-ready zkEVM platform.
Vladislav SopovThe prover mechanism (which checks and confirms the validity of transactions) is no longer a bottleneck for Ethereum (ETH) scaling, the dev added.
Rally of zk-narrative tokens on menu?
Polygon zkEVM will significantly advance the scaling opportunities of Ethereum (ETH), improve its developer friendliness and inject new life into the ZKP narrative.
As such, some researchers are expecting an upsurge of all tokens somehow related to this narrative. While Polygon (MATIC) is the most obvious one, there are also some mid-caps that might explode on the zkEVM release.
Typically, Loopring (LRC), Dusk Network (DUSK), ImmutableX (IMX) and Mina Protocol (MINA) are highlighted as the most promising projects of this segment.
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