Five Advantages of Polygon zkEVM Validium

Hello Everyone!!! I hope you are having a great time over there? It's really nice to see you visit my blog today and I must say I'm really happy to have a great personality like you visiting my blog today 😊. Thank you once again 💕❤️

My Canva Design

There's definitely no doubt that whenever we discuss Ethereum Scalability, the Polygon Blockchain must never be overlooked as it plays a vital role in providing layer 2 Scalable solution and this also explains why the impact of Polygon can never be over emphasised on the Ethereum Blockchain.

img src

According to a recent publication which can be found on Polygon Forum, the technical team made a proposal to upgrade from PoS to a zkEVM Validium which is the first of it's kind secured by Zero Knowledge (ZK) on the Polygon Blockchain.

In my content today, I'll be sharing with you Five Advantages of Polygon zkEVM Validium and I definitely hope you'll find this interesting. Also feel free to share your opinion about the recent zkEVM Validium Polygon technology via the comment section.

Let's Get Down To Business

#1 Scalability

img src

One of the most significant advantages of zkEVM Validium is its potential to enhance scalability on the Ethereum network. This is quite possible for the new technology by batching and compressing multiple transactions into a single proof which enables Polygon zkEVM Validium to reduce the number of transactions needed to be processed on the Ethereum mainnet. This can also help to alleviate network congestion and significantly increase the overall throughput of the system which leads to faster and more efficient transaction processing.

img src

It is also important to know that even though rollups are a Layer 2 solution for Ethereum scalability their throughput is sometimes limited by the mainnet's capacity to handle transaction data and there's definitely no doubt that this can be handled by the new Polygon zkEVM Validium technology.

#2 Lower Transaction Fees

img src

In the long run, the sole additional expense of operating Polygon PoS as a zkEVM validium would involve the cost of generating proofs. However, Polygon Labs' ZK teams have made remarkable strides in reducing these costs.

img src

According to the a recent publication on Polygon Blog, Polygon zkEVM proves a 10 million gas batch amounts to just $0.0259 which translates to a mere $0.00005 per transfer. With fewer transactions being processed on the Ethereum mainnet, it is undoubtedly that users can expect lower gas fees for interacting with smart contracts and conducting transactions. Reduced gas fees make decentralized applications (dApps) more accessible to users, encouraging broader adoption and usage.

#3 Privacy

img src

Privacy on the blockchain is definitely one of the ultimate goal of most Web3 technologies and there's definitely no doubt that Polygon has always been work on this using Zero Knowledge proofs. The Zero-Knowledge Proofs (zkSNARKs) allow users to prove the validity of transactions without revealing the underlying data or personal information to the public. This provides a higher level of privacy, confidentiality and trust for users sensitive information and transaction details. As a result, zkEVM Validium can be particularly beneficial for applications that require privacy and confidentiality, such as financial transactions and data sharing.

#4 EVM Compatibility

img src

Being based on the Ethereum Virtual Machine (EVM), zkEVM Validium maintains compatibility with existing Ethereum smart contracts and decentralized applications. Developers can easily port their applications from the Ethereum mainnet to the Validium solution with minimal modifications, making it easier for them to take advantage of the scaling benefits without sacrificing the existing ecosystem.

Also, By offloading a significant portion of transaction processing to layer 2 Validium solutions, the Ethereum mainnet experiences reduced congestion and strain on its resources. This can lead to better overall performance and stability for the Ethereum network.

#5 Interoperability

img src

zkEVM Validium is
designed to be interoperable with the Ethereum mainnet. Smart contracts deployed on the Ethereum mainnet can interact with Validium solutions to ensure seamless user experience and preserving the existing network effects of Ethereum on the Blockchain.

Reference Link

• https://polygon.technology/blog/polygon-2-0-polygon-pos-zk-layer-2?utm_source=twitter&utm_medium=social

• https://polygon.technology/blog/introducing-polygon-2-0-the-value-layer-of-the-internet

• https://forum.polygon.technology/t/pre-pip-discussion-upgrading-polygon-pos-to-a-zkevm-validium/12187

About Me

I am Adebola by name and I'm also a graduate of Agricultural Engineering (BSC). I am someone who cherish self development and being productive is in my DNA, this is why I am always open to learning from anyone and I love making research. I have been in the crypto space for the past five years and my level of enthusiasm for cryptocurrency and blockchain technology keeps increasing day by day. My hobbies are reading, writing, eating, engaging in agricultural operations, travelling, designing and blogging. My skills include Content writing, Graphic Design, UI/UX (Product) Deisgn, Copywriting, Internet Marketing, Blogging, Research and Coding (Novice). Feel free to connect with me via;
Email
Telegram
Discod: Hardaeborla#103
Twitter

If its your first time here?? Start blogging on Hive and start earning free Hive tokens and HBD.
Hive : This is a native cryptocurrency used to reward Hive bloggers. Hive has a thriving ecosystem of over a hundred apps, communities & projects and is home to some of the most-used Web3 apps in the world, such as @splinterlands, @peakD, @HiveBlog, @leofinance and many others.

HBD : Hive Backed Dollar is the stable coin used on Hive blockchain. It is pegged to the price of one US dollar and users can earn 20% APR on HBD savings.
Learn more about Hive blockchain here

Thank You for your time and I hope you have a great day ahead with love from @hardaeborla
💕❤️💕❤️💕