Vitalik Buterin Proposes zk-EVM Integration to Enhance Ethereum

Ethereum co-founder Vitalik Buterin recently discussed the integration of zero-knowledge Ethereum Virtual Machines (zk-EVMs) at Ethereum's base layer. The use of zk-EVMs could expedite the verification process while maintaining decentralization and security. Buterin emphasized Ethereum's "multi-client philosophy" and explained how introducing zk-EVMs at layer 1 would create a third type of client. He also cautioned against transferring most activities to layer 2, as it could make layer 1-based apps economically nonviable.

Buterin elaborated on an "open" zk-EVM system that would necessitate different clients with distinct zk-EVM implementations, preserving the "multi-client" paradigm and facilitating the development of new clients. The implementation of the zk-EVM ecosystem would simplify the process of running a full Ethereum node, with Ethereum blocks being smaller, and anyone could operate a fully verifying node on various devices.

Polygon recently open-sourced its zkEVM to the Polygon mainnet, promising to decrease transaction costs and increase the throughput of smart contract deployments. Other organizations are also working on zk-EVM scaling solutions.

In conclusion, Buterin's contemplation of zk-EVMs at Ethereum's base layer showcases a commitment to balancing scalability with the platform's core values of decentralization and security. The Ethereum ecosystem may experience significant advancements in efficiency, accessibility, and decentralization as layer 2 solutions progress and zk-EVMs move closer to implementation.

Takeaways:

Ethereum co-founder Vitalik Buterin proposes integrating zero-knowledge Ethereum Virtual Machines (zk-EVMs) at Ethereum's base layer.

Introducing zk-EVMs at layer 1 would create a third type of client, preserving the "multi-client philosophy" of Ethereum.

An "open" zk-EVM system would necessitate different clients with distinct zk-EVM implementations, facilitating the development of new clients.

Polygon recently open-sourced its zkEVM to the Polygon mainnet, promising to decrease transaction costs and increase smart contract deployment throughput.

Buterin's proposal showcases a commitment to balancing scalability with decentralization and security.

Disclaimer: This article is for informational purposes only and is not intended as legal, tax, investment, financial, or other advice.

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Polygon, the popular Ethereum Layer 2 scaling solution, has announced the launch of its highly anticipated zkEVM (Zero Knowledge Ethereum Virtual Machine) mainnet. This marks a major milestone for the project as it seeks to offer an even faster and more efficient network for decentralized applications (dApps) and decentralized finance (DeFi) projects.

With the launch of the zkEVM mainnet, Polygon aims to provide a more secure and scalable solution for Ethereum-based applications. The new mainnet will make use of Zero-Knowledge Proofs (ZKPs) to ensure privacy and scalability on the network. ZKPs enable users to verify the authenticity of transactions without revealing any sensitive data. This is a crucial feature for many DeFi projects that require anonymity and privacy for their users.

The launch of the zkEVM mainnet is expected to have a positive impact on the price of Polygon's native cryptocurrency, MATIC. MATIC has already seen significant growth in the past year, increasing from around $0.02 in March 2020 to an all-time high of $2.68 in May 2021. As of the time of writing, MATIC is trading at around $1.38, according to CoinMarketCap.

With the launch of the new mainnet, Polygon is expected to attract even more attention from developers and investors, potentially leading to a surge in demand for MATIC. The improved network speed and security offered by the zkEVM mainnet is likely to make Polygon an even more attractive option for developers and users looking for a scalable and secure platform for their dApps and DeFi projects.

However, as with any cryptocurrency investment, there is always a risk involved. The crypto market is highly volatile, and prices can fluctuate rapidly in response to news and events. While the launch of the zkEVM mainnet is expected to have a positive impact on MATIC's price, it is important to do your own research and consider the risks before investing in any cryptocurrency.

In conclusion, the launch of the zkEVM mainnet is a major milestone for Polygon, and it is likely to have a positive impact on the price of MATIC in the short and long term. However, as with any investment, it is important to proceed with caution and consider the risks involved.

#matic #polygon #zkEVM #crypto2023 #cryptotrading

The zero-knowledge #Ethereum Virtual Machine (zkEVM) has been given the name "Linea" by the Ethereum software company ConsenSys, and it has been made available for public testing.

#ConsenSys established a private testnet for its #zkEVM in December, and more than 350,000 transactions have been completed since then. In a blog post, the developers behind Linea said that:

“Linea represents the next evolution of ConsenSys zkEVM, powering a new generation of dapps built on Ethereum.”

Moreover, ConsenSys tweeted that its well-known #MetaMask wallet and Truffle, its developer tools, will be fully integrated into Linea.

Many believe that zero-knowledge technology is the best way to scale blockchains since it lowers transaction costs and speeds up transactions.

A ZK rollup that works with the Ethereum Virtual Machine, the program that runs smart contracts, is known as a zkEVM. Developers may switch their apps over to Ethereum without experiencing any issues if there is a ZK rollup that is compatible with the EVM.

Recently, there has been a lot of activity in the Ethereum ecosystem's zero-knowledge area. Both Matter Labs and Polygon released their own zkEVMs, putting an end to the competition to make Ethereum-compatible ZK rollups available to consumers.

This news is republished from https://coinaquarium.io/

The race between Ethereum scaling platforms to come out with the first ”zero knowledge Ethereum Virtual Machine” (zkEVM) – seen as a key advance in speeding up blockchain transactions and reducing the cost – culminated Friday as Matter Labs opened its zkSync Era to users.
Matter Labs said zkSync Era, which launched last month for developers only, is now also open to general users.
So-called ZK rollups are a type of blockchain scaling solution based on cryptography known as zero-knowledge proofs. A zkEVM is a special type of ZK rollup compatible with Ethereum Virtual Machine, a piece of software that executes smart contracts – so it’s easier for developers familiar with the ecosystem to design or reconfigure applications.
Zero-knowledge proofs were invented in the early 1980s, and blockchain developers have been working on ZK rollups for years, but not until now has one been made available to general users with the EVM compatibility.
The competition among developers to reach market first with a zkEVM has been a source of intense speculation this year in blockchain tech circles. Polygon, a rival Ethereum scaling provider, has disclosed plans to push its own zkEVM live on Monday.
“ZK Rollups are the holy grail of scaling Ethereum, but obviously, only if you can preserve compatibility with the existing ecosystem,” said Alex Gluchowski, the CEO of Matter Labs, to CoinDesk.
According to Gluchowski, zkSync Era will have over 200 projects ready to be deployed on the ZK Rollup.
He said a differentiator for zkSync Era is that there will be native Account Abstraction, enabling users to have a more user-friendly experience where they can define how they pay their gas (meaning, they won’t need to necessarily pay gas in ether).
The Rollup race comes to a close
When Polygon announced the date it would release the first zkEVM on the market, Matter Labs had not publicly shared when it intended to release its version – providing an extra jolt of drama in the competition.
A few days’ difference probably won’t make a huge difference in the long run, but it could confer bragging rights and possibly some extra juice in the marketing.
Gluchowski claims that Matter Labs was “ready to launch earlier” so the team saw little reason to wait.
“We opened the mainnet to developers a month ago,” he said.
ZkSync Era has gone through seven independent security audits, according to Matter Labs’ press release.
Gluchowski also noted that the team is referring to Friday’s opening as the “Alpha launch” because he wants to warn users that this is a new technology so “ people should take it carefully.”
“We don't want people to bridge a lot of funds and, like, just ape into it,” he said.