The Ethereum Ecosystem is Going all-in on zkEVM Tech

TL;DR

• Last week Ethereum founder, Vitalik Buterin, made an announcement that the Ethereum ​blockchain​ would be developing a zkEVM.

• Now, the Polygon team are so ‘in’ on zkEVM technology that they just announced they're shifting their focus (and funding) from other projects, like Polygon Edge, and putting it all into zkEVM.

• If Ethereum can become faster/cheaper/easier to use, it will grow quicker and fend off its rivals.

Full Story

The domino effect is real...or is it the snowball effect?

Regardless, it's happening.

Here’s the trend we're talking about:

Last week Ethereum founder, Vitalik Buterin, made an announcement that the Ethereum ​blockchain​ would be developing a zkEVM.

It stands for: Zero Knowledge, Ethereum Virtual Machine.

Which looks like a bunch of mumbo jumbo (and it is!).

Basically, for Ethereum-based blockchains that want to securely move more data, faster and cheaper, zkEVMs can do exactly that.

Cool, so who else is doing this?

Polygon.

In fact, the Polygon team are so ‘in’ on zkEVM technology that they just announced they're shifting their focus (and funding) from other projects, like Polygon Edge, and putting it all into zkEVM.

(Some pretty serious moves!)

And a few big-time projects have already committed to using Polygon's zkEVM tech, including: Immutable, Astar, Canto, and Gnosis Pay.

What's the takeaway?

If Ethereum can become faster/cheaper/easier to use, it will grow quicker and fend off its rivals.

It hasn't been able to confidently tick all of those boxes up until this point, but the adoption of zkEVM tech could soon change that.

(And the fact that Vitalik and the Polygon team are all-in on the technology, instills faith that it will!).