Introduction

Polygon zkEVM is a Layer Two (L2) scaling solution for Ethereum that leverages the scaling power of zero-knowledge (ZK) proofs while maintaining EVM Equivalence. Developers on Polygon zkEVM can use the same code, tooling, apps, etc that they use on Ethereum, but with higher throughput and lower fees.

Polygon zkEVM is an exciting new development in the world of Ethereum-compatible blockchains, and in this guide, we will learn a bit about it.

What is Polygon and zkEVM?

Polygon is a blockchain platform offering diverse blockchain solutions. Their most popular offering is Polygon PoS, a Layer 2 proof-of-stake blockchain providing low-cost transactions, full EVM compatibility, and web3 community support. Other offerings from Polygon include Polygon Supernets, Polygon Miden, Polygon ID, and last but not least, Polygon zkEVM.

Polygon zkEVM is a virtual machine designed and developed to emulate the Ethereum Virtual Machine (EVM) by recreating all existing EVM opcodes for transparent deployment of existing Ethereum smart contracts. It is the first zero-knowledge scaling solution that is fully equivalent to an EVM, allowing developers and users on Polygon zkEVM to use the same code, tooling, apps, etc that they use on Ethereum, but with much higher throughput and lower fees.

How does it work?

Polygon zkEVM employs verifiable zero-knowledge proofs as validity proofs, allowing for secure and private blockchains. By using zero-knowledge proofs, it's possible to prove that a transaction is valid without revealing any sensitive information about the transaction itself.

Polygon zkEVM offers compatibility and scalability without compromise on security. Transactions are grouped into batches with a zero-knowledge proof proving the validity of each transaction. The Trusted Sequencer generates and publishes proofs of valid state transitions and is supported by a network of Trusted Aggregators, which help to process and validate transactions in a scalable and efficient manner.

What are the benefits?

Developers will deploy their existing contracts to Polygon zkEVM, and users can deposit assets from Ethereum and transact for lower gas costs. The cost-saving feature of zkEVM is passed on to the applications and end-users of the zkEVM, making it an attractive option for those who are mindful of their budget. Additionally, zkEVM provides fast finality due to its validity being finalized once it is published on Ethereum L1. Lastly, zkEVM provides scalability as it follows different consensus rules compared to Ethereum but still verifies its proofs on Ethereum L1.

Polygon zkEVM has various use cases in the world of blockchain. Here are a few examples:

1. Decentralized Finance (DeFi)
   Polygon zkEVM is an ideal solution for DeFi applications, given its high security and censorship resistance nature. The platform's ability to scale and process transactions quickly makes it an attractive option for blue chip NFTs, GameFi, and Enterprise applications. With Polygon zkEVM, DeFi developers can easily deploy existing Ethereum smart contracts with zero-knowledge proofs that ensure privacy and security.
2. Non-Fungible Tokens (NFTs)
   NFTs have become increasingly popular in recent years, and their popularity has only increased with the emergence of Polygon zkEVM. The platform's compatibility with Ethereum and its ability to scale and process transactions faster make it an attractive option for NFT developers looking to create secure and scalable NFT marketplaces.
3. Payments
   Polygon zkEVM's fast finality and low transaction fees make it an ideal solution for payment platforms. By enabling secure and scalable transactions at a lower cost, the platform makes it easier for merchants to accept cryptocurrencies as payment, thus increasing adoption.

Comparison with Other Layer 2 Solutions

Polygon zkEVM is not the only Layer 2 scaling solution available in the market. Here are a few examples of other popular Layer 2 solutions and how they compare with Polygon zkEVM:

1. Optimistic Rollups
   Optimistic Rollups (ORUs) are another Layer 2 scaling solution for Ethereum that use a different approach than Polygon zkEVM. ORUs allow for faster and cheaper transactions by grouping them into batches and processing them off-chain. The validity of each batch is then verified on the Ethereum mainnet. While ORUs offer a cheaper and faster solution, they have higher latency, meaning that it takes longer to confirm transactions.
2. Arbitrum
   Arbitrum is another Layer 2 scaling solution for Ethereum that uses an Optimistic Rollup approach. Similar to ORUs, Arbitrum batches transactions off-chain and verifies their validity on the Ethereum mainnet. One key difference between Arbitrum and Polygon zkEVM is that Arbitrum requires developers to write custom code to deploy their smart contracts, whereas Polygon zkEVM offers complete EVM compatibility, allowing developers to deploy their existing Ethereum smart contracts without any changes.
3. ZK Sync
   ZK Sync is another Layer 2 scaling solution that uses zero-knowledge proofs to enable faster and cheaper transactions. ZK Sync uses a rollup approach where transactions are processed off-chain and the validity is verified on the Ethereum mainnet. One key difference between ZK Sync and Polygon zkEVM is that ZK Sync has limited support for existing Ethereum smart contracts, whereas Polygon zkEVM is fully EVM-compatible and supports the deployment of existing Ethereum smart contracts.

Conclusion

In conclusion, while there are various Layer 2 scaling solutions available for Ethereum, Polygon zkEVM stands out due to its full EVM compatibility, allowing developers to deploy their existing Ethereum smart contracts without changes. Additionally, its use of zero-knowledge proofs enables secure and private transactions, making it an attractive option for DeFi, NFT, and payment applications.