The DeFi protocols Aave and Uniswap, along with other projects, will be among the first projects deployed on the zkEVM testnet.

Decentralized Ethereum Scale Platform Polygon

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announced the launch of Polygon zkEVM Public Testnet, an “Ethereum-equivalent” ecosystem with cross-compatibility with existing smart contracts, developer tools, and wallets built on Ethereum and Polygon PoS.

Zero-Knowledge Ethereum Virtual Machine (zkEVM) is a layer 2 build on top of Ethereum that aims to improve scalability by processing massive transfers in a single transaction. The testnet was released under Polygon’s zero-knowledge research and development team as a full-featured open source implementation of zkEVM.

Decentralized Finance (DeFi) Protocols Aave

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for 68.69 US dollars

and Uniswap

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for 5.80 US dollars

, along with social platform Web3 Lens and game studio Midnight Society, will be among the first projects to be deployed on the zkEVM testnet.

Polygon encourages Web3 developers to collaborate by implementing contracts and identifying bugs as the platform accelerates the adoption of zk technology. In the words of Polygon co-founder Mihailo Bjelic:

“We invite the entire community to try out the testnet, help us test its limits, break things, and identify bugs, so that together we can deliver the first zkEVM to the world.”
Full equivalence with EVM allows developers to migrate to zkEVM without the need for new programming languages ​​and tools or translation of existing code, which also includes an open source zk-prover mechanism.

The announcement emphasizes that Polygon zkEVM provides greater capital efficiency while allowing businesses to rapidly build decentralized applications on Ethereum.

Related: Polygon partners with ocean conservation NGO to promote ocean literacy

Last month, on September 27, Space and Time raised $20 million in strategic funding from investors including Microsoft’s M12 Fund, Microsoft’s venture capital arm, Avalanche

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for 15.47 US dollars

and polygon.

The $20 million funding round saw the participation of several other investors, including Coin DCX and HashKey.

M12 executive Michelle Gonzalez said Microsoft wants the VC firm to see how centralized systems can be automated and connected with smart contracts.

Source: CoinTelegraph