Polygon zkEVM Crosses Historic Milestone Amid Expansion

In a noteworthy development, Polygon’s zkEVM has reached a significant milestone in the blockchain industry, amidst its ecosystem expansion. 

Polygon zkEVM Records 100k Daily Transaction

Polygon’s co-founder, Sandeep Nailwal gave comments on Twitter that the platform has processed 100,000 transactions in a single day for the first time, consolidating its position as a top Layer 2 scaling solution.

Additionally, the platform has produced 401,841 ZK-Proofs, demonstrating the strength and effectiveness of its zero-knowledge-proof technology. The total number of wallets on the platform has surpassed 297,107. There are 246 active wallets on the network, indicating a solid level of user participation and activity.

This remarkable achievement demonstrates the trust and confidence that the community and developers have placed in Polygon’s zkEVM. Its ability to handle such a large number of transactions per day demonstrates its potential to address the scalability issues faced by Ethereum (ETH) and other blockchain networks.

The success of zkEVM is not an isolated event but is closely tied to the growing ecosystem that Polygon has cultivated. Developers and projects across various industries have recognized the potential of Polygon’s Layer 2 solutions and have been actively migrating to the network.

The Decentralized Finance (DeFi) space, in particular, has experienced significant growth on Polygon, with an increasing number of protocols leveraging the platform’s scalability and low transaction fees.

Furthermore, NFT markets, and gaming Decentralized Applications (dApps) have found a new home on Polygon, benefiting from a more seamless and cost-effective user experience.

The Road to zkEVM Success

Polygon, formerly known as Matic Network, has been dedicated to overcoming the scalability challenges faced by Ethereum. Its previous solutions, such as Plasma and PoS Chain, laid the groundwork for Polygon’s ascent as a prominent Layer 2 scaling solution.

However, zkEVM marked a turning point in the platform’s journey, revolutionizing the way transactions are processed on the network. This Layer 2 solution offers a compelling alternative to the Ethereum mainnet, significantly reducing gas costs and alleviating congestion without compromising security.

zkEVM allows for faster and more efficient processing of transactions while maintaining compatibility with the Ethereum Virtual Machine (EVM) by leveraging zero-knowledge proofs.

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.