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Polygon Launches zkEVM for Ethereum Scaling, Offers $1M Bug Bounty

Polygon Launches zkEVM for Ethereum Scaling, Offers $1M Bug Bounty

Polygon's scaling solution for Ethereum, known as zkEVM, has been highly anticipated for some time now.

The solution is a zero-knowledge rollup (ZK-rollups) equivalent to the Ethereum Virtual Machine, which is designed to improve the blockchain’s throughput by bringing computations and state storage to layer-2.

This will allow for off-chain transactions while minimizing data on the Ethereum mainnet. With its mainnet beta version launched, developers can start experimenting with the technology to take advantage of its potential benefits.

Polygon‘s zkEVM aims to provide developers with an easy way to deploy smart contracts with higher finality and lower transaction costs.

In an announcement today, Polygon Labs revealed that the solution is now live and fully open-source under an AGPL v3 license. This means that developers can modify, use, and distribute the software as they see fit without any proprietary restrictions.

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Despite the two recent audits that the new network has undergone, Polygon Labs acknowledges that there may still be bugs in the code.

To combat this, the company has posted a bounty of up to $1 million for identifying critical vulnerabilities. As battle-testing the protocol unfolds, it will be interesting to see how developers take advantage of the technology to scale their applications and services on the Ethereum blockchain.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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