Vitalik Buterin Completes First Transaction on Polygon Mainnet

03/27/2023 14:55 • Metaverse Matters • 160 views

According to reports, according to Stephen Polygon, a development engineer at Polygon Labs, who revealed on social media that Vitalik Buterin, the co founder of Ethereum, has completed its first transaction on the main website of Polygon zkEVM. The transaction hash is 0x18db0b46e46777b5b369460be229b0704abe7d24bf88dbfee99054c43b0c121c, with a transaction amount of 0.005 ETH, a transaction fee of 0.0003367104 ETH, and a gas fee of 0.00000000152 ETH.

V Shen completed its first transaction on the main network of Polygon zkEVM

Introduction

Stephen Polygon, a development engineer at Polygon Labs, recently revealed on social media that Vitalik Buterin, co-founder of Ethereum, has made his first transaction on the main website of Polygon zkEVM. The transaction hash is 0x18db0b46e46777b5b369460be229b0704abe7d24bf88dbfee99054c43b0c121c, with a transaction amount of 0.005 ETH, a transaction fee of 0.0003367104 ETH, and a gas fee of 0.00000000152 ETH.

What is Polygon and zkEVM?

Polygon (MATIC) is a Layer 2 scaling solution for Ethereum that aims to improve scalability and reduce transaction costs on the network. It is a protocol that allows for faster and cheaper transactions, as well as interoperability between different blockchains. Polygon has its own mainnet as well as support for Ethereum and other networks.
zkEVM (zero-knowledge Ethereum Virtual Machine) is a Layer 2 solution that uses zero-knowledge proofs to provide private and scalable smart contracts. It runs on top of Polygon and allows for faster and cheaper transactions with high scalability.

Why is Vitalik Buterin’s Transaction Significant?

Vitalik Buterin’s transaction on Polygon’s main website is significant because it showcases the benefits of using Polygon and its Layer 2 solutions. Buterin has been a proponent of Layer 2 scaling solutions in the past and his use of Polygon further reinforces the importance of such solutions for the success and growth of Ethereum.
Additionally, Buterin’s transaction marks the first successful transaction on the main website of Polygon’s zkEVM. This highlights the potential of zkEVM as a valuable Layer 2 solution for Ethereum and other networks.

Benefits of Polygon and zkEVM

Polygon and its Layer 2 solutions offer several benefits to users and developers including:
– Faster and cheaper transactions
– Interoperability with other blockchains
– Improved scalability for Ethereum and other networks
– Enhanced privacy with zero-knowledge proofs

Conclusion

Vitalik Buterin’s first transaction on Polygon’s zkEVM demonstrates the potential of Polygon and its Layer 2 solutions for improving scalability, reducing transaction costs, and increasing interoperability on the Ethereum network. The success of this transaction also highlights the growing importance of Layer 2 scaling solutions for the continued success and growth of Ethereum and other networks.

FAQ

Q: What is Vitalik Buterin’s role in the cryptocurrency world?
A: Vitalik Buterin is the co-founder of Ethereum, one of the largest and most popular cryptocurrencies in the world.
Q: What are Layer 2 scaling solutions?
A: Layer 2 scaling solutions are protocols that run on top of existing blockchains like Ethereum and provide faster and cheaper transactions with improved scalability.
Q: What is a gas fee?
A: A gas fee is a fee charged by the Ethereum network for processing transactions. It is paid in ETH by the user sending the transaction.

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