Polygon introduced a new privacy solution for Ethereum this year called zkEVM. The person behind it says this is just the start of making Ethereum faster and better.
Jordi Baylina also recognized important achievements this year, like Polygon 2. 0’s plans to grow the ecosystem and the Chain Development Kit.
This year, a lot of people started using scalability more, so developers worked really hard to find the best ways to make their networks bigger and more efficient. Zero-knowledge rollups were very popular solutions, and the Polygon ecosystem has been a leader in this area. Jordi Baylina is a big part of this big change, and in a recent talk, he talked about his work, including the zk-EVM that started earlier this year.
Zero-knowledge rollups are one of two kinds, and the other kind is optimistic rollups. Basically, rollups make transactions faster and cheaper on a second layer network, and then send the information to the main network to help it handle more transactions.
Polygon is the top company in this area. This year, it released zkEVM, a new technology that can connect to Ethereum Virtual Machine. Baylina was in charge of the project. In March, Ethereum founder Vitalik Buterin made the first transaction by sending 0. 005 ETH to a random address when the project was launched.
Baylina and his team achieved a big success with the launch of zkEVM. They received praise from the Polygon and Ethereum communities, including from founders Sandeep Nailwal and Buterin. Sandeep said he thinks that in a year and a half to two years, most big web3 apps will be made on the zero-knowledge-proven layer 2 chains.
At the start, more than 50 companies agreed to use the solution for making things bigger. It also caused Matter Labs, another important company in the field, to make its zkSync solution available to its users.
Scaling leadership at Polygon.
While the zkEVM was the team’s greatest achievement, Baylina was also proud of other things they did, like launching the Chain Development Kit. The kit was released in August and it allows developers to create applications on the blockchain using zero-knowledge proofs. In simpler terms, developers can change their layer 2 blockchains so they can work together through a bridge. This makes them all compatible.
Polygon said that the aim is easy: to create a basic set of rules for the Internet that allows people to easily send and receive things of value, just like they do with information.
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Baylina and the team say that using the kits is the best way to upgrade current Supernets architecture and take advantage of Polygon’s top technology. Supernets are special blockchains built for a specific purpose.
At the moment, Polygon’s MATIC is being traded for $0. 833, and it has gone up by 5% in the last day. It went up by 10% last week and now it’s worth $7. 7 billion, making it the 14th biggest cryptocurrency.