Stepping up pace in the race to become the numero uno solution provider for Ethereum, Polygon has launched a public testnet. Polygon\u2019s Hermez testnet is built on top of the Ethereum blockchain. It is a zkEVM solution that will primarily help Ethereum scale up operations.<\/p>\n
In addition to improving scalability, such solutions help blockchains reduce transaction costs through the mass transfer of transactional data. zkRollups, in fact, get their name from the fact that they help \u201croll up\u201d or bundle up transactions to verify them all together. The introduction of this solution means that many more people will now be able to use the network as the transactions speed up.<\/p>\n
In the words of Polygon co-founder Mihailo Bjelic, developers will now be able to migrate from the Ethereum Virtual Machine (EVM), the program that scripts operations on the Ethereum network, to the zkEVM without having to use any new programming languages or tools. There will also be no changes in existing code. zkEVM enables developers to build and deploy decentralized applications on Ethereum in a quick and cost-effective manner.<\/p>\n
The testnet also allows cross-compatibility with existing smart contracts, developer tools, and wallets built on Ethereum and Polygon PoS.<\/p>\n
Polygon acquired Hermez Network late last year. The $250 million deal was the first-ever full-blown merger of two blockchain networks. Polygon network was the first to completely absorb another blockchain including its token.<\/p>\n
Polygon\u2019s blog post announcing the recent launch read: \u201cToday\u2019s release of the Public Testnet achieves that vision, and we\u2019re proud to say we\u2019re the first zkEVM to reach public testnet with an open-source ZK proving system.\u201d<\/p>\n
Polygon\u2019s post describes its recently launched testnet as its \u201cbest shot\u201d at helping Ethereum, a network that it believes set the bar for the Web 3.0 space.<\/p>\n
DeFi protocols like Aave and UniSwap will be among the first to join the public zkEVM testnet. Web 3.0 social platform Lens and gaming studio Midnight Society also hopped on the bandwagon.<\/p>\n
Polygon is becoming the preferred choice of developers and businesses when it comes to building and deploying Web 3.0 applications. Numerous corporations like Starbucks and Coca-Cola have already forged partnerships with the company behind the network.<\/p>\n","protected":false},"excerpt":{"rendered":"
Stepping up pace in the race to become the numero uno solution provider for Ethereum, Polygon has launched a public testnet. Polygon\u2019s Hermez testnet is built on top of the Ethereum blockchain. It is a zkEVM solution that will primarily help Ethereum scale up operations. In addition to improving scalability, such solutions help blockchains reduce […]<\/p>\n","protected":false},"author":67,"featured_media":25854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-25853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Deepan Datta\",\"description\":\"A keen observer of the crypto market and believes crypto\/blockchain will bring the next phase of the industrial revolution and build an inclusive society.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/deepan\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ea29018d03e4615947c5df3ce7b4030b?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/25853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=25853"}],"version-history":[{"count":3,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/25853\/revisions"}],"predecessor-version":[{"id":25881,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/25853\/revisions\/25881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/25854"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=25853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=25853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=25853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}