Polygon Labs’ zkEVM Goes Open Source: What You Need to Know

On March 28th, Polygon Labs announced that its Polygon zkEVM has been fully open source under the AGPL v3 license. The trial version of the main network of Polygon zkEVM has also been launched synchronously. Currently, up to $1 million in vulnerability rewards have been set up to record critical vulnerabilities.

Polygon zkEVM is now fully open source with a bug reward of up to $1 million

The release of Polygon Labs’ zkEVM was met with excitement from the crypto community. On March 28th, Polygon Labs announced that its Polygon zkEVM has been fully open source under the AGPL v3 license. The trial version of the main network of Polygon zkEVM has also been launched synchronously. Currently, up to $1 million in vulnerability rewards have been set up to record critical vulnerabilities. In this article, we’ll go over everything you need to know about Polygon Labs’ zkEVM going open source.

What is Polygon Labs’ zkEVM?

Polygon Labs’ zkEVM is a highly scalable, EVM-compatible implementation of Zero-Knowledge Proof (ZK) technology. This technology enables smart contracts to be processed off-chain, which enhances the performance of the network. This technology is a step up from the existing EVM-compatible solutions, which are typically not scalable and cannot handle high volumes of transactions. By adopting ZK technology, Polygon Labs’ zkEVM is expected to offer high throughput and lower transaction fees.

The Significance of zkEVM Going Open Source

By making their technology open source, Polygon Labs aims to increase the adoption of zkEVM technology. Furthermore, open sourcing the code means that developers can build their own applications and platforms on top of the Polygon zkEVM chain. This move is also seen as a step towards greater community involvement, which is essential for the growth and success of any blockchain project.

What are the Benefits of the Polygon zkEVM?

– Scalability: The Polygon zkEVM is highly scalable, thanks to its use of ZK technology. It can handle a large number of transactions per second, which makes it ideal for use in high-performance applications.
– Compatibility: The Polygon zkEVM is compatible with the Ethereum Virtual Machine (EVM), which means that Ethereum developers can use their existing skills and knowledge to develop on Polygon.
– Lower transaction fees: By processing smart contracts off-chain, the Polygon zkEVM reduces the transaction fees associated with on-chain transactions. This makes it more accessible for users who are looking for a more cost-effective solution.
– Security: Polygon Labs has set up a $1 million vulnerability reward program to encourage developers and security researchers to identify and report potential security issues.

How can Developers Get Involved?

Developers can contribute to the Polygon zkEVM project by downloading the code from Github and building their own applications on top of the platform. Polygon also has a developer community, which provides a platform for developers to engage with one another and share knowledge and ideas. Developers can also participate in the vulnerability reward program by reporting potential security issues to Polygon Labs.

Conclusion

Polygon Labs’ zkEVM going open source is a significant step towards greater community involvement and adoption of ZK technology. This highly scalable, EVM-compatible implementation of Zero-Knowledge Proof technology is expected to enhance the performance of decentralized applications and platforms. Its lower transaction fees, security, and scalability make it an attractive solution for developers and users alike.

FAQs

#1. What is zkEVM technology?

zkEVM is a highly scalable, EVM-compatible implementation of Zero-Knowledge Proof technology. It can handle a large number of transactions per second and reduce the transaction fees associated with on-chain transactions.

#2. What is the significance of zkEVM going open source?

By making their technology open source, Polygon Labs aims to increase the adoption of their zkEVM technology. This move is also seen as a step towards greater community involvement, which is essential for the growth and success of any blockchain project.

#3. How can developers get involved in the Polygon zkEVM project?

Developers can contribute to the Polygon zkEVM project by downloading the code from Github and building their own applications on top of the platform. Polygon also has a developer community, which provides a platform for developers to engage with one another and share knowledge and ideas.