Polygon zkEVM is an exciting new development in the world of Ethereum-compatible blockchains. It combines two powerful technologies, zero-knowledge proofs (aka zk-proofs) and Ethereum Virtual Machine (EVM), to create a highly scalable and secure blockchain solution.
So what does that mean exactly? Well, let's break it down. First, let's talk about zero-knowledge proofs. These are cryptographic proofs that allow a party to prove the authenticity of a piece of data without revealing any additional information. For example, let's say you have a friend who doesn't believe you have a superpower. You claim that you can unlock any door without a key. To prove your claim, you could use a zero-knowledge proof by asking your friend to choose any door and not show you the key. Then, you can approach the door and unlock it without a key. Your friend can see that the door is unlocked, but they still don't know how you did it or what your secret method is. This is a zero-knowledge proof because you proved your claim without revealing any information about your method.
By using zero-knowledge proofs, it's possible to prove that a transaction is valid without revealing any sensitive information about the transaction itself. This makes it possible to build more secure and private blockchains, which is a huge benefit in today's digital world.
Next, let's talk about the Ethereum Virtual Machine (EVM). This is the software that runs on the Ethereum blockchain and allows developers to write smart contracts. Smart contracts are self-executing contracts that are stored on the blockchain and can be programmed to execute when certain conditions are met automatically.
What does this all mean for users transacting on the chain? The Polygon zkEVM will be at least one order of magnitude cheaper than Ethereum. Users can expect to pay just a few cents for a single transaction, which should have a finality of ~2-3 seconds.