Ethereum will outpace Visa with zkEVM Rollups, says Polygon co-founder

Read full article at Cointelegraph.com News.

zkEVM Rollups, a new scaling solution for Ethereum, will allow the smart contract protocol to outpace Visa in terms of transaction throughput, said Polygon co-founder Mihailo Bjelic in a recent interview with Cointelegraph. 

Polygon recently claimed to be the first to implement a zkEVM scaling solution, which aims at reducing Ethereum’s transaction costs and improving its throughput. This layer-2 protocol can bundle together several transactions and then relay them to the Ethereum network as a single transaction.

The solution, according to Bjelic, represents the Holy Grail of Web3 as it offers security, scalability and full compatibility with Ethereum, which means developers won’t have to learn a new programing language to work with it.

 “When you launch a scaling solution, you ideally want to preserve that developer experience. Otherwise, there will be a lot of friction,” explained Bjelic. 

According to Sandeep Nailwal, Polygon’s other co-founder, this solution will slice Ethereum fees by 90% and increase transaction throughput to 40–50 transactions per second.

As Bjelic pointed out, if further upgraded, ZkEVM Rollups could one day handle thousands of transactions per second, thus outpacing mainstream payment systems like Visa.

Watch the full interview on our YouTube channel and don’t forget to subscribe!

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency