After the completion of the Polygon zkEVM infrastructure, the second phase will focus on the development of applications on the chain.

The Polygon team announced that its zero-knowledge proof-based Layer2 project, Polygon zkEVM, will begin the second phase of its plan as testing and technology mature, aiming to boost ecosystem activity and user participation on the chain.

Introduction to Polygon zkEVM

Polygon zkEVM is a Rollups based on zero-knowledge proofs, aiming to create an EVM-compatible, highly efficient Layer2 network with EVM equivalence to enhance the performance of the Ethereum mainnet.

The network supports most Ethereum EIPs, precompiles, and opcodes. Developers can seamlessly deploy smart contracts, tools, and wallets that are already running on Ethereum to Polygon zkEVM, reducing gas costs.

The proof mechanism of Polygon zkEVM uses a combination of eSTARK and FRI, and then compresses it using FFLONK SNARK to create the final ZK proof.

How will the privacy-focused Layer2 project, Manta Pacific, compete with zk Rollups as a latecomer?

Phase 2: Building the On-chain Ecosystem

Shifting Focus to On-chain Applications

The testnet of Polygon zkEVM was launched in October 2022, with the mainnet scheduled to go live in March 2023. The zkEVM network has undergone two major upgrades since then: the Dragon Fruit upgrade ForkID5 in September 2023 and the Berry ForkID6 in November.

The past 10 months have been the first phase of the Polygon zkEVM mainnet Beta testing, focusing on network operation testing and infrastructure improvement. With the gradual improvement in technology and security, the next phase of the plan will focus on market-oriented strategies.

The team announced the start of the second phase today, emphasizing assisting on-chain DApp growth and increasing user activity. With new teams joining Polygon zkEVM, many new DApps are expected to be gradually launched in the next two months. The team mentioned that Polygon zkEVM season-related activities will be welcomed.

Market Status

According to Polygon's official data, the total value locked (TVL) on the Polygon zkEVM network is currently around $17 million, which is still a very small number compared to other leading Layer2 networks, indicating significant room for growth.

According to DeFiLlama data shown, the top three projects in terms of on-chain funds on the network are Quickswap with $6.68 million, Balancer with $4.87 million, and Gamma with $2.62 million, currently lacking practical applications.