Polygon Labs, the firm responsible for the Web3 framework employed by prominent companies like Meta, Stripe, and Reddit, has unveiled the Mainnet Beta for its revolutionary Polygon zkEVM. This cutting-edge technology, now entirely open-source under the AGPL v3 license, allows developers to access repositories for modification, utilization, and distribution as required.
The innovative Polygon zkEVM is a fundamentally equivalent scaling solution to the Ethereum Virtual Machine (EVM) and fully benefits from Ethereum’s ecosystem. This technology reduces transaction costs and significantly increases throughput by leveraging zero-knowledge (ZK) proofs while maintaining Ethereum’s security. ZK-proof technology works by grouping transactions together and transmitting them to the Ethereum Network as a single, bulk transaction, dramatically lowering fees for all participants involved.
The Mainnet Beta launch for Polygon zkEVM coincides with its open sourcing under the AGPL v3 license. This decision aligns with the broader Ethereum community’s values, driven by the open-source movement. By adopting this license, any modifications or distributions of the Polygon zkEVM code must remain open-source, ensuring that the technology cannot be used for proprietary purposes.
Before the launch of the Mainnet Beta, Polygon zkEVM underwent thorough audits by top-tier teams at Hexens, Spearbit, and internally by Polygon Labs. The finalized audit reports have been made available to the public and Web3 teams for full transparency.
Although Polygon zkEVM has been meticulously audited, the possibility of undiscovered bugs remains. To mitigate potential risks, Polygon Labs has implemented strict security measures, including forming a temporary security council. Additionally, a bug bounty of up to $1,000,000 has been established for reporting critical vulnerabilities.
Developers of payment and DeFi applications may find Polygon zkEVM’s high security and censorship resistance more appealing than other Layer 2 scaling solutions. Unlike Optimistic roll-ups, which require users to wait up to seven days for deposits and withdrawals, zk-Rollups offer faster settlement and superior capital efficiency.
Polygon zkEVM also enables the easy migration of decentralized applications (dApps) from Ethereum-compatible chains, offering distinct advantages to developers. Using familiar programming languages and tools like Solidity, Metamask, Hardhat, Truffle, and Remix, developers can migrate dApps by simply switching nodes. This makes Polygon zkEVM an ideal platform for creating NFTs, new gaming technologies, and enterprise applications.
Mihailo Bjelic, the co-founder of Polygon Labs, has stated that the ultimate goal of Web3 infrastructure should encompass scalability, security, and Ethereum compatibility. Polygon zkEVM’s breakthrough technology achieves these properties, paving the way for mass adoption and further growth of the Web3 ecosystem.
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