Polygon Decentralized Scaling Platform Ethereum (
matic
knock
$0.8363
) announced the launch of the Polygon zkEVM Public Test Network, an Ethereum-equivalent ecosystem with cross-compatibility with existing smart contracts, developer tools, and wallets built on Ethereum and Polygon PoS.
The Ethereum Zero Knowledge Virtual Machine (zkEVM) is a second layer on top of Ethereum that aims to improve scalability by handling bulk transfers bundled into a single transaction. testnet was launched by Polygon’s zero-knowledge development team as a full-featured, open source application for zkEVM.
Decentralized Financial Protocols (DeFi) (Aave)
avi
knock
USD 74.83
) and Uniswap (
UNI
knock
6.35 dollars
), along with social platform Web3 Lens and game studio Midnight Society, will be among the first projects published on the zkEVM testnet.
Polygon encourages collaboration between Web3 developers by rolling out contracts and spotting bugs as the platform takes the lead in using zk technology. According to Mihailo Bellek, co-founder of Polygon:
“We invite the entire community to try out the testnet, help us test limits, break things, and catch bugs so we can all introduce our first zkEVM to the world!”
Full parity with EVM allows developers to migrate to zkEVM without having to use new programming languages and tools or compile existing code, which also includes the fully open source zk-Prover engine.
The announcement highlights that Polygon zkEVM offers higher capital efficiency, enabling companies to build fast, low-fee decentralized applications on Ethereum.
Related Topics: Polygon partners with an ocean conservation NGO to promote marine literacy
Last month, on September 27, Space and Time raised $20 million in strategic funding from investors such as Microsoft’s M12 fund, Microsoft’s investment arm, Avalanche (
Several other investors participated in the $20 million funding round, including Coin DCX and HashKey.
Michael Gonzalez, CEO of M12, said venture capital firm Microsoft is looking to automate central systems and connect them to smart contracts.
