Polygon’s zkEVM has reached a significant milestone in the blockchain industry as its ecosystem expands.
Polygon zkEVM Records 100k Daily Transaction
Sandeep Nailwal, the co-founder of Polygon, stated on Twitter that the platform had processed 100,000 transactions in a single day for the first time, solidifying its status as a top Layer 2 scaling solution. Furthermore, the platform has generated 401,841 ZK-Proofs, illustrating the power and efficacy of its zero-knowledge-proof methodology. The platform’s total number of wallets has topped 297,107. The network has 246 active wallets, showing a high level of user participation and activity.
This outstanding result illustrates the community’s and developers’ trust and confidence in Polygon’s zkEVM. Its capacity to handle such a high volume of transactions per day highlights its potential to address the scalability challenges that Ethereum (ETH) and other blockchain networks are experiencing.
The success of zkEVM is not an isolated event but is inextricably linked to Polygon’s developing ecology. Developers and projects from a variety of industries have recognized the value of Polygon’s Layer 2 solutions and have begun to migrate to the network. Decentralized Finance (DeFi), in particular, has experienced significant growth on Polygon, as a number of protocols take advantage of the platform’s scalability and low transaction fees.
The Road to zkEVM Success
Polygon, originally known as Matic Network, has been focused to overcoming Ethereum’s scalability issues. Polygon’s past solutions, such as Plasma and PoS Chain, provided the framework for the company’s rise to prominence as a Layer 2 scaling solution.
zkEVM, on the other hand, was a watershed moment in the platform’s history, revolutionizing the way transactions are conducted on the network. This Layer 2 solution provides an appealing alternative to the Ethereum main net, drastically lowering gas prices and relieving congestion while maintaining security.
By utilizing zero-knowledge proofs, zkEVM enables faster and more efficient transaction processing while remaining compatible with the Ethereum Virtual Machine (EVM).