TL; DR
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Last week, Ethereum founder Vitalik Buterin announced that the Ethereum blockchain would develop a zkEVM.
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Now the Polygon team is so “into” zkEVM technology that they just announced they’ll be shifting their focus (and funding) from other projects, like Polygon Edge, and putting it all into zkEVM.
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If Ethereum can become faster/cheaper/easier to use, it will grow faster and fend off its rivals.
Full story
The domino effect is real… or is it a snowball effect?
Whatever the case, it happens.
This is the trend we are talking about:
Last week, Ethereum founder Vitalik Buterin announced that the Ethereum blockchain would develop a zkEVM.
It stands for: Zero Knowledge, Ethereum Virtual Machine.
That looks like a bunch of mumbo jumbo (and it is!).
In short, for Ethereum-based blockchains that want to move more data securely, faster, and cheaper, zkEVMs can do just that.
Cool, so who else does this?
Polygon.
In fact, the Polygon team is so “into” zkEVM technology that they just announced that they will be shifting their focus (and funding) from other projects, like Polygon Edge, and putting it all into zkEVM.
(Some pretty serious moves!)
And a few major projects have already committed to using Polygon’s zkEVM technology, including: Immutable, Astar, Canto, and Gnosis Pay.
What’s the takeaway?
If Ethereum can become faster/cheaper/easier to use, it will grow faster and fend off its rivals.
So far we have not been able to tick all these boxes with confidence, but the adoption of zkEVM technology could quickly change that.
(And the fact that Vitalik and the Polygon team are all-in on the technology inspires confidence that this will happen!).