zkEVM Rollups, a new scaling solution for Ethereum, will allow the smart contract protocol to outpace Visa in terms of transaction throughput, said Polygon co-founder Mihailo Bjelic in a recent interview with Cointelegraph.
Polygon recently claimed to be the first to implement a zkEVM scaling solution, which aims at reducing Ethereum’s transaction costs and improving its throughput. This layer-2 protocol can bundle together several transactions and then relay them to the Ethereum network as a single transaction.
The solution, according to Bjelic, represents the Holy Grail of Web3 as it offers security, scalability and full compatibility with Ethereum, which means developers won’t have to learn a new programing language to work with it.
“When you launch a scaling solution, you ideally want to preserve that developer experience. Otherwise, there will be a lot of friction,” explained Bjelic.
According to Sandeep Nailwal, Polygon’s other co-founder, this solution will slice Ethereum fees by 90% and increase transaction throughput to 40–50 transactions per second.
As Bjelic pointed out, if further upgraded, ZkEVM Rollups could one day handle thousands of transactions per second, thus outpacing mainstream payment systems like Visa.
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Tagged: crypto blog, Crypto news, Ethereum 2.0, layer2, proof-of-stake, proof-of-work, Scalability, Security, Smart Contracts, Tech Analysis, Transactions, web3