• Mon. Jun 17th, 2024

Uniswap scales using Polygon’s zkEVM Testnet, introduced today

Polygon’s zero-knowledge (ZK) R&D team has launched the leading ecosystem’s zkEVM Public Testnet, Coin Journal learned from a press release. 

High security and infinite scalability 

zkEVM is the only solution that fulfills the most important goals of blockchain design: high security, infinite scalability, and an Ethereum-familiar developer experience. 

Uniswap adopts testnet, UNI up 9%

Leading DeFi platforms like Uniswap and Aave, as well as gaming studio Midnight Society and Lens, the web3 social platform, will count among the first to scale their dApps using the zkEVM testnet.

Uniswap’s token UNI gained nearly 9% on the news of this major expansion. 

Fast withdrawal and censorship resistance 

DeFi applications will also benefit from Polygon zkEVM’s censorship resistance and high security. Zk-rollups don’t have much waiting time when it comes to withdrawals, unlike their optimistic counterparts. The zkEVM is far more capital-effective as a result. 

Full EVM equivalence  

Polygon zkEVM sets itself apart from the competition by being fully equivalent to the Ethereum Virtual Machine. This is advantageous to developers because they won’t have to transport existing code or use new programming tools and languages to migrate to zkEVM. 

David Schwartz, Co-Founder of Polygon Hermez, commented:

Ultimately, Polygon zkEVM is the next step in Ethereum’s journey, and we are moving towards giving our users the full benefits of a working zkEVM — scalability without compromise. We have some work to do before we fully achieve those goals, and we’re eager to find out exactly what needs improvement and receive feedback. That’s why we’re inviting you to help us battle-test the testnet version of Polygon zkEVM.

Commitment to web3 growth 

Polygon is passionately committed to the growth of the web3 ecosystem and the pursuit of a decentralized future. Upon announcing the launch of zkEVM at Eth Paris in July of this year, the code for zkEVM was open-sourced and fully accessible to developers. 

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