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Polygon (MATIC) Drops New zkEVM Mainnet Beta: $1,000,000 Bug Bounty Program

It’s been just revealed the fact that Ethereum (ETH) scaling solution Polygon (MATIC) has launched the mainnet beta of its highly-anticipated zkEVM with a high-prize bug bounty. Check out the latest reports about this below.

Polygon reveals important update

The zkEVM is a zero-knowledge rollup (ZK-rollups) scaling solution equivalent to the Ethereum Virtual Machine.

“ZK-rollups aim to boost the throughput of the Ethereum blockchain by bringing computations and state storage to layer-2, allowing transactions to be made off-chain while only putting minimal data on the Ethereum mainnet,” according to the latest notes from the Daily Hodl.

Polygon’s zkEVM aims to easily let developers deploy smart contracts with higher finality and lower transaction costs. It’s important to note that there is an announcement from Polygon today, which states that Polygon zkEVM is now live and open source.

“Today, Polygon Labs is pleased to announce that Polygon zkEVM has not only launched Mainnet Beta, but it is also fully open-source under an AGPL v3 license.”

The notes continue and say the following:

“This means Polygon zkEVM will not be proprietary and developers will have access to the repositories to modify, use, and distribute as they see fit. As a growing number of ZK-rollups are announced, the question of how to license ZK software, which Polygon Labs has addressed in the past, will only become more pressing.”

People lose faith in the monetary system

According to the latest reports, in a new YouTube update, Wood says that Bitcoin’s decentralized nature and scarce supply will attract capital looking for a superior store of value compared to what has historically been available to them.

“[Bitcoin is] playing the store of value role right now. And, if the global monetary systems right now, shall I say, lose the confidence of people generally, there will be a shift to more crypto from a store of value point of view, certainly.”

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