ZK Roll Up Wars Heat up, Matter Labs Announces Its Plans For ZkSync
Matter Labs, parent company of the zero-knowledge rollup zkSync, announced on blogging platform Medium on Wednesday, its plans to launch zkSync 2.0 to Ethereum’s mainnet in 100 days and included a public roadmap of the process.
The first EVM-compatible zero knowledge rollup
According to information on zkSync’s website, zkSync 2.0 is an (Ethereum virtual machine) EVM-compatible ZK Rollup— zero knowledge rollup, that solves Ethereum’s scalability, it is going live in October, after zkSync 1.0 launched year and a half ago.
It is an upgraded version of zkSync 1.0 which functions to half the cost of transfers on Ethereum and has secured close to four million transactions. The announcement noted that with zkSync 2.0, projects will inherit the full security of Ethereum.
Matter Labs also insists it will be the first team to introduce this type of technology to the market— a fully EVM-compatible zero knowledge rollup with the zkEVM.
In an interview with CoinDesk, Matter Labs CEO Alex Gluchowski said We’ve been pretty quiet for the entire existence of the company and the product [because] we’ve been doing a lot of R&D work, and R&D work is unpredictabl
Polygon introduces the polygon zkEVM
On a similar note, Polygon announced its zkEVM, “the future of ethereum scaling” today, the announcement noted that contrary to the belief that it will take years to build Layer 2 scaling solutions with ZK proofs benefits and EVM compatibility, it wouldn’t actually take that much time.
Polygon pointed out the problem with Zero Knowledge proofs, first is the issue of performance and then compatibility. The Ethereum SIdechain provides a solution to these with its zkEVM.
The announcement read, You can build on Polygon zkEVM the same way you would on Ethereum. You can deploy any Ethereum smart contract. Any tooling that works with Ethereum will work on Polygon zkEVM. Do anything you would do on Ethereum, for lower cost and at greater speeds, and have it verified on the Ethereum network via a ZK validity proof. It’s Ethereum, but with ZK scalability.
- John Bollinger Sees ‘W’ Bottom Forming in Ethereum and Solana, Not Bitcoin
- Robert Kiyosaki Calls Bitcoin and Ethereum ‘Real Money,’ Urges Investors to Ditch ‘Fake’ Fiat
- ‘Sell Gold, Buy Bitcoin’: Expert Flags Major Market Bottom Signal
- Ripple Makes ‘Unusual’ $500M Transfer Amid $1 Billion XRP Treasury Plans
- ‘I’m Going Bonkers’: Dave Portnoy Says He’ll Buy XRP Again If It Dips Below This Level
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
- HYPE Price Teeters Amid Weak Technicals and Soaring Liquidations
- XRP Price Prediction As Ripple Announces $1B Treasury Plans – Is a Rebound Imminent?
- Bitcoin Price Prediction Amid Gold’s Parabolic Rally to Second-Largest Reserve Asset
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
