Polygon zkEVM is a solution aimed at improving Ethereum's efficiency. It's like an enhanced Layer 2 system using zero-knowledge proofs, a type of cryptography, to speed up transactions and reduce costs.
What is Polygon zkEVM
Here's how it works:
- Trusted Sequencer: This part collects and organizes transactions.
- Trusted Aggregator: It checks these transactions and creates a sort of 'proof' to show they're valid.
- Consensus Contract: Finally, this component confirms everything is correct and records the transactions.
In summary, Polygon zkEVM makes Ethereum transactions faster, cheaper, and more secure, addressing some of the main challenges faced by the Ethereum network.
Team of Polygon zkEVM
Sandeep Nailwal
Co-Founder
Sandeep Nailwal is a co-founder of Polygon and has been actively involved in the cryptocurrency and blockchain space for several years. Sandeep has a deep understanding of decentralized systems and has been focused on driving the adoption of blockchain technology. He has been instrumental in building partnerships, fostering developer communities, and promoting the growth of Polygon ecosystem.
Jaynti Kanani
Co-Founder
Jaynti Kanani has a strong background in computer science and blockchain technology. With his expertise, Jaynti has been instrumental in the technical development and strategic direction of Polygon. He has played a crucial role in driving innovation and scaling solutions for the Ethereum network.
Antony Martin
Co-Founder & Business Development Lead
Antony Martin is a Co-Founder and Business Development Lead at Polygon Hermez. He has extensive experience in Digital Asset Development as a Finance professional with over 14 years experience in Deutsche Bank and self taught software development skills. He has tested expertise in global coordination of teams and project management.
David Schwartz
Co-Founder
David Schwartz is a dynamic leader with a passion for cutting-edge technology. With a focus on blockchain-based solutions, he drives the development of Polygon ID, a groundbreaking identity system with programmable privacy. As the Project Lead for Polygon zkEVM, he spearheads the scaling of payments and token transfers on Ethereum. David's entrepreneurial spirit led him to co-found Ausum Cloud, revolutionizing cloud services. With extensive experience in cloud ICT and managed services, he has mastered the art of virtualization and hybrid environments. David's impressive career also includes roles as CTO, COO, and Operations Manager, delivering exceptional solutions to diverse industries.
Jordi Baylina
Technical Lead
Jordi Baylina, a skilled solidity programmer and software engineer, brings a wealth of experience to Polygon. Before joining Polygon, he co-founded the White Hat Group, where he played a key role in resolving the DAO Hack in 2016. This hack jeopardized 10% of the total ETH in existence, but Jordi and his team successfully rescued funds, targeted other hackers, and returned the funds to DAO token holders. In 2017, they also recovered millions of dollars in ETH and tokens.
Anurag Arjun
Ex Co-Founder
Anurag Arjun is also a co-founder of Polygon and has contributed to the project's success by leveraging his expertise in blockchain technology, business development, and marketing. Anurag has played a vital role in shaping the vision and strategy of Polygon, as well as in building strong relationships with industry partners and stakeholders.
Polygon zkEVM review
Pros
EVM-Equivalence
Polygon zkEVM fully emulates Ethereum's Virtual Machine, allowing Ethereum smart contracts to be deployed seamlessly, ensuring ease of use for developers familiar with Ethereum's environment.
Ethereum Security
Inherits Ethereum's robust security model, providing a high level of safety and reliability for transactions and smart contract operations.
ZKP-Powered
Utilizes zero-knowledge proofs for scalability, enabling faster transaction processing and increased transaction throughput, greatly enhancing the performance compared to Ethereum.
Compatibility and Scalability
Offers the best of both worlds - compatibility with Ethereum's tools and applications, and improved scalability for handling more transactions at lower costs.
Cons
Learning Curve
Developers may need time to adapt to the nuances of zkEVM's architecture, despite its similarity to Ethereum's EVM.
Dependency on Ethereum
Being a Layer 2 solution, zkEVM's performance is tied to the underlying Ethereum blockchain, meaning any Ethereum issues could indirectly affect zkEVM.
Governance and Upgradability
Managing protocol upgrades and ensuring effective decentralized governance can be challenging, requiring a balance between innovation, security, and community consensus.
Opportunities
AirdropMainnet
Minimal cost: ~70 USD
Polygon zkEVM
This is a product from Polygon Labs that has successfully launched the Polygon Network which is currently the 11th largest cryptocurrency by marketcap