Polygon Labs Makes Polygon zkEVM Open Source Under AGPL v3

On March 28th, Polygon Labs announced that its Polygon zkEVM has been fully open source under the AGPL v3 license. The trial version of the main network of Polygon zkEVM has also been launched synchronously. Currently, up to $1 million in vulnerability rewards have been set up to record critical vulnerabilities.

Polygon zkEVM is now fully open source with a bug reward of up to $1 million

Polygon Labs recently announced that their Polygon zkEVM is now fully open source under the AGPL v3 license. Additionally, the trial version of the main network of Polygon zkEVM has already been launched, with vulnerability rewards of up to $1 million set up to record any critical vulnerabilities. In this article, we will cover the features and benefits of Polygon zkEVM as well as the implications of its recent shift to open source.

What is Polygon zkEVM?

Polygon zkEVM is a Layer 2 scaling solution that allows faster and more efficient transaction processing on the Ethereum blockchain network. It is built on zk-rollups technology, which enables a more secure and cost-effective way of executing smart contracts while maintaining the decentralized nature of the blockchain.
zkEVM stands for “zero-knowledge Ethereum Virtual Machine” and it is designed to execute smart contracts with zero-knowledge proofs. This means that transactions can be processed off-chain rather than on-chain, thereby reducing congestion on the Ethereum network and lowering gas fees.

Why Open Source?

Open-sourcing Polygon zkEVM means that its source code is now publicly available for anyone to view, copy, and modify. This allows developers to create and deploy their own version of the software, which fosters innovation and collaboration within the community.
The AGPL v3 license chosen by Polygon Labs ensures that any new versions or changes to the software must also be released under the same license. This helps to protect the open nature of the project and prevent it from being exploited for commercial gain.

Benefits of Polygon zkEVM

One of the biggest benefits of using Polygon zkEVM is the cost savings for users. By processing transactions off-chain and settling them on-chain only when necessary, the gas fees associated with Ethereum transactions are greatly reduced. This makes it more affordable for users to interact with smart contracts and contribute to the Ethereum ecosystem.
Another benefit of Polygon zkEVM is its scalability. With the recent surge in popularity of the Ethereum network, there has been a significant increase in transaction volume, causing congestion and delays. Polygon zkEVM offers a solution by enabling faster and more efficient transaction processing, which helps to alleviate the congestion and improve the user experience.

Implications of Open Source

The move to open-source Polygon zkEVM is significant for both the developers and the wider blockchain community. It encourages a more collaborative approach to development, which can lead to quicker and more innovative solutions to problems.
The transparency that comes with open source also ensures that the software is more secure, as any vulnerabilities can be identified and patched by the community at large. This provides peace of mind for developers and users alike, knowing that the software is being continually improved and updated by a global network of experts.
Open source also enables developers to build on top of Polygon zkEVM, creating their own products and services that can benefit the wider blockchain community. This can lead to a more diverse and decentralized ecosystem, which is more resilient to attacks and less prone to monopolies.

Conclusion

Polygon Labs’ recent move to open source their Polygon zkEVM is a significant step forward for the Ethereum ecosystem. It offers an affordable and scalable Layer 2 solution that can empower developers to create innovative solutions on top of it. By making it open source, Polygon Labs has also ensured that the software is more secure and transparent, which should encourage wider adoption and development.

FAQs

#Q: What is Polygon zkEVM?

A: Polygon zkEVM is a Layer 2 scaling solution for the Ethereum blockchain network that uses zk-rollups technology to enable faster and more efficient transaction processing.

#Q: Why is Polygon zkEVM open source?

A: Open sourcing Polygon zkEVM fosters collaboration and innovation within the blockchain community, while also ensuring greater transparency and security for the software.

#Q: What are the benefits of using Polygon zkEVM?

A: Polygon zkEVM offers cost savings in terms of reduced gas fees, as well as improved scalability by enabling faster and more efficient transaction processing on the Ethereum network.