Polygon zkEVM, Polygon’s (MATIC) high-performance scaling solution built on the Ethereum network, has reached a new milestone in terms of growth and transaction volume. According to the data, Polygon zkEVM reached an all-time high (ATH) in transaction volume, clearly demonstrating the platform’s growing popularity and adoption among users.
Polygon zkEVM’s Stunning Performance
According to data released by the platform, Polygon zkEVM saw a 70 percent increase in Total Value Locked (TVL), making it the biggest weekly jump since its launch. It also set a trading record with over 130,000 successful transactions in a single day. As expected, the gas fee dropped as a result of users sharing the cost of submitting call data as more transactions were executed during this period.
The recent ATH in transaction volume on the Polygon zkEVM platform reflects its growing popularity among users. Likewise, the platform has seen an increase in usage due to its fast and cheap transactions, compatibility with ETH, and enhanced privacy and security features.
With the rise in popularity of decentralized finance (DeFi) and increasing demand for fast and cheap transactions, the Polygon network is expected to continue to see much more significant growth in the future.
Polygon Competing to be the Best L2 Network
April was a very important month for the Ethereum-based Layer-2 network, and performance metrics for the zkEVM protocol started to be shared one by one. According to the platform, the zkEVM protocol continued to rise with a growth rate of over 300 percent during April.
Polygon was built to help Ethereum scale, and since its inception, it has succeeded in this role and has received industry recognition. While Polygon is considered a cheaper protocol compared to the underlying Layer-1, zkEVM is designed as a much more advanced version of the protocol.
Polygon zkEVM uses zero-knowledge proofs (zk-proofs) to increase the privacy and security of transactions. However, this technology allows users to prove the validity of transactions without disclosing sensitive information such as the amount or the parties involved. This makes the platform ideal for financial applications that require high levels of privacy and security.
In particular, Polygon zkEVM is characterized by low transaction fees and fast transaction confirmation times. This is achieved through the use of Layer-2 scaling solutions that help reduce the load on the main Ethereum network and increase the speed of transactions.
