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Polygon (MATIC) ZkEVM Launches: Here's How Much Transactions Cost Here

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Sat, 11/02/2023 - 15:15
Polygon (MATIC) ZkEVM Launches: Here's How Much Transactions Cost Here
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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.

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.

Related

The 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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