The Web3 sector needs to overcome the blockchain trilemma of decentralization, scalability, and security.
Polygon released Polygon Bridge for Polygon zkEVM. The zero-knowledge rollup on Mainnet Beta launched a month prior.
Vitalik Buterin made Polygon zkEVM Mainnet Beta’s first transaction. Polygon zkEVM Mainnet Beta is an all-purpose Ethereum scaling technology that developers can build on without changing languages or tooling.
Polygon zkEVM
Polygon Bridge for zkEVM will include a more visible progress bar, transaction history, recent transaction panel with color-coded completion status, time estimates for pending transactions, and filtering, according to the official blog post.
Polygon Bridge for zkEVM uses zero-knowledge technology and is regulated by smart contracts on Ethereum and Polygon. Ethereum mainnet users can withdraw funds within 30-60 minutes. It supports ERC-20 and ERC-777 coins.
Polygon zkEVM reduces mapping, which can take hours or days. Once a user initiates the bridging transaction, the bridged token is automatically mapped. This is a “major UX improvement” over other chains that require token mapping before bridging.
“Permissionless, open source, and public – anyone can use it to transact and build. An impressive array of teams is already building on the Mainnet Beta, including premier dApps such as Lens and Balancer, blue-chip gaming projects such as Midnight Society and Oath of Peak, and trusted infrastructure providers such as ANKR, Alchemy, Sequence, and The Graph.”
Ethereum Scaling Breakthrough
Polygon’s zkEVM has received $5.4 million in TVL since its inception last month. Uniswap’s unanimous approval of Polygon Labs’ DEX protocol deployment to zkEVM earlier this month boosted Polygon’s zero-knowledge rollup.
Polygon zkEVM deposits grew significantly. Quickswap, the Polygon PoS Chain’s main DEX, and Sushi, Uniswap’s longtime adversary, are active.
Polygon has gained developers and important institutions this year. Polygon Labs, which developed the layer 2 blockchain, cut its personnel by 20% in February.
