Polygon Labs, the company behind the Web3 framework used by companies such as Meta, Stripe, and Reddit, has released the Mainnet Beta for its revolutionary Polygon zkEVM. This cutting-edge technology, which is now completely open-source under the AGPL v3 license, enables developers to gain access to repositories for modification, utilization, and distribution as needed.
The innovative Polygon zkEVM is a scaling solution that is fundamentally equivalent to the Ethereum Virtual Machine (EVM) and fully benefits from Ethereum’s ecosystem. By leveraging zero-knowledge (ZK) proofs, this technology reduces transaction costs and significantly increases throughput while maintaining Ethereum’s security. ZK-proof technology works by grouping transactions together and sending them to the Ethereum Network as a single, bulk transaction, resulting in significantly lower fees for all participants.
Polygon zkEVM’s Mainnet Beta launch coincides with its open sourcing under the AGPL v3 license. This decision is consistent with the values of the larger Ethereum community, which is fueled by the open-source movement. Any modifications or distributions of the Polygon zkEVM code must remain open-source under this license, ensuring that the technology cannot be used for proprietary purposes.
Polygon zkEVM was thoroughly audited by top-tier teams at Hexens, Spearbit, and Polygon Labs prior to the launch of the Mainnet Beta. For complete transparency, the finalized audit reports have been made available to the public and Web3 teams.
Despite the fact that Polygon zkEVM has been thoroughly tested, the possibility of undiscovered bugs remains. Polygon Labs has implemented strict security measures, including the formation of a temporary security council, to mitigate potential risks. A bug bounty of up to $1 million has also been established for reporting critical vulnerabilities.
Polygon zkEVM’s high security and censorship resistance may appeal to developers of payment and DeFi applications more than other Layer 2 scaling solutions. Unlike optimistic roll-ups, which can take up to seven days to settle deposits and withdrawals, zk-Rollups provide faster settlement and superior capital efficiency.
Polygon zkEVM also allows for the simple migration of decentralized applications (dApps) from Ethereum-compatible chains, providing significant benefits to developers. Developers can migrate dApps by simply switching nodes using familiar programming languages and tools such as Solidity, Metamask, Hardhat, Truffle, and Remix. Polygon zkEVM is thus an ideal platform for developing NFTs, new gaming technologies, and enterprise applications.
Polygon Labs co-founder Mihailo Bjelic has stated that the ultimate goal of Web3 infrastructure should include scalability, security, and Ethereum compatibility. These properties are achieved by Polygon zkEVM’s breakthrough technology, paving the way for mass adoption and further growth of the Web3 ecosystem.
