Ethereum

Bitcoin

Polygon

Competition among leading development firms in the Ethereum ecosystem is driving the advancement of zero-knowledge Ethereum Virtual Machines (zkEVMs) to enhance network scalability, according to Jordi Baylina, co-founder of Polygon. 
In anticipation of the EthCC conference in France, which serves as a gathering point for Ethereum ecosystem builders, zero-knowledge proof (ZK-proof) scaling tools are poised to take center stage. 
Polygon’s zkEVM utilizes ZK-proofs to reduce transaction costs and boost the throughput of the Ethereum network, leveraging the security and finality of the layer-1 blockchain. 
ZK-proofs have emerged as a crucial scaling tool for the Ethereum ecosystem, enabling protocols like Polygon’s zkEVM to conduct off-chain transaction computations and provide lightweight proofs to the Ethereum mainnet without compromising data privacy. 
Baylina, leading the development of Polygon’s zkEVM, believes that the diverse array of projects utilizing ZK technology is highly advantageous for the broader Ethereum ecosystem. 
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He emphasizes that the presence of different projects contributes valuable experience, enables the exploration of various approaches and problem-solving techniques, and allows for the identification of shortcomings that serve as learning opportunities for all ZK-based projects. 
Polygon’s zkEVM is already live on the mainnet, with nearly 250,000 unique active addresses. 
The increasing number of daily active addresses indicates growing user adoption and points to the platform’s expanding reach. 
However, Baylina considers the number of applications building on Polygon’s zkEVM as the most crucial metric for his team. 
Developer feedback and insights garnered from these applications shape protocol improvements and help address any identified issues. 
Baylina cites the example of developers uncovering timestamp-related issues critical to decentralized finance oracles, leading his team to develop temporary workarounds while working on permanent solutions. 
This collaborative approach with builders is instrumental in enhancing the protocol as more developers join the ecosystem. 
Polygon co-founder Sandeep Nailwal has previously described Polygon’s zkEVM as the “holy grail of Ethereum scaling,” as it allows the submission of proofs to the Ethereum mainnet without the need to rerun computations on the layer-1 blockchain. 
This technology holds the potential to significantly scale Ethereum, empowering developers to build decentralized applications without being hindered by the network performance of the base blockchain. 
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Fierce Competition Among Top Ethereum Development Firms Ignites Advancements in zkEVMs

Crypto Intelligence

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