- Polygon’s adoption of zkEVM promises to reduce gas costs and increase processing capacity for dApps.
- Polygon 2.0 seeks to store transaction data off-chain, increasing scalability and reducing operational costs.
Ethereum’s Dencun update stands to be a catalyst for the advancement of Layer 2 solutions, especially for Polygon’s zkEVM, marking a before and after in the way transactions are executed and valued in the cryptocurrency world.
L2 transaction fees are expected to drop by 10x from a current average of $0.23 thanks to the upcoming Ethereum Dancun upgrade. pic.twitter.com/9GuLgxky08
— IntoTheBlock (@intotheblock) February 10, 2024
have you ever wondered how a technical improvement can directly impact your wallet? Well, Dencun is here to prove it, promising a reduction in transaction costs that will not only ease users’ pockets but also boost activity on the network.
Imagine making transactions on zkEVM at a lower cost, unbelievable, isn’t it? This is the reality that Dencun promises to bring. With lower costs, it stands to reason that more users will be incentivized to transact, which in turn could revive activity on networks that have seen better days in terms of usage and value captured.
This increase in activity is not only good news for existing users, but also puts Polygon’s zkEVM in a more competitive position against other scaling solutions.
MATIC’s Value Impact: Market Optimism
The mood of anticipation around Dencun has positively influenced MATIC’s value, showing the market’s enthusiasm for the changes this update could bring to the Ethereum environment and its associated projects .
This enthusiasm reflects confidence that reduced transaction costs and increased utilization will result in robust development for Ethereum and systems such as zkEVM.
Advantages for Developers with zkEVM from Polygon
- Reduced Gas Costs: By storing less data on-chain and processing many operations off-chain, the costs associated with gas are drastically reduced.
- Increased Processing Capacity: Thanks to the clustering technique, more transactions can be processed at the same time, allowing dApps to handle more users and operations without congestion.
- EVM Compatibility: Developers already working in the Ethereum environment can move to Polygon zkEVM without the need to learn new tools or redesign their applications.
- Enhanced Security: Zero Knowledge Testing integration ensures that even with off-chain computations, transaction integrity and security remain intact.
- Polygon is not satisfied with zmVM: its vision goes further to Polygon 2.0 – the value layer of the Internet.
Differences between Polygon zkEVM rollup and Polygon 2.0 Validium
Although both validiums and rollups use validity tests to verify transactions, the key difference lies in their approach to data availability. This influences their security, reliability and functionality.
zkEVM Rollup
It offers lower scalability as its transaction data needs to be published on the blockchain, resulting in higher costs by consuming more Ethereum block space. However, data availability risks are low, making it ideal for high-value transactions and applications where security of funds and data is paramount.
Validium
Optimizes scale and cost by storing transaction data off-chain, allowing for greater scalability and cheaper costs. However, the risk of off-chain data aggregation and accessibility is higher, being preferred for Web3 gaming platforms or social dApps due to its high scalability and low fees.
The beauty is that thirdweb offers tools for developers to build on top of both zkEVM rollups and Polygon’s validium, providing unprecedented flexibility in creating decentralized applications.
In this context, Polygon zkEVM and Dencun are charting paths to a future where developing and using decentralized applications becomes simpler, cheaper and more secure.
The flexibility to build on both platforms, thanks to tools such as thirdweb, highlights the versatility and potential that the Polygon ecosystem makes available to the crypto community.
