Polygon Labs, the team behind the popular altcoin project, announced that the zkEVM technology has been made available in Mainnet Beta and is now fully open source under an AGPL v3 license. The company believes the open source Polygon zkEVM is essential to scaling Ethereum in a community driven by the open source movement.
Popular altcoin announces important development
Polygon zkEVM is a ZK-rollup for a ZK-proof that revolutionizes proof generation with its innovative, modular design. The technology can now be modified, used and distributed by developers under the terms of the AGPL v3 license. Polygon Labs has chosen this license as the most appropriate license for Ethereum’s technology designed to scale the public good.
As a solid copyleft license, AGPL v3 obliges developers who modify or distribute Polygon zkEVM code to open source their changes under the same AGPL v3 license or a more authoritative license. This means that all future changes and distributions of the code will remain open source and the code cannot be used for private purposes.
Reward for critical vulnerabilities from altcoin project
Polygon zkEVM was audited internally by the best-in-class Hexens, Spearbit teams and Polygon Labs prior to Mainnet Beta release. Final audit reports are made available for the public and any Web3 team to read. Still, there is always the possibility of undetected bugs that could destabilize the network, put crypto assets at risk, or cause users to lose data. Polygon Labs has outlined strict security measures, including an interim security council, to help ensure the safety of everyone using the Polygon zkEVM Mainnet Beta.
As Polygon zkEVM has been battle-tested in the real world, a bug bounty of up to $1,000,000 has been set for documenting critical vulnerabilities. Using the code as open source will allow other researchers to track and modify the code in real time. Because Polygon zkEVM has become fully featured and is working to deploy the sequencer in the future.
Privilege to Vitalik Buterin to start first transaction on zkEVM
Sandeep Nailwal, co-founder of Polygon, said in an interview, “We want to be highly aligned with the Web3 ethos. We want more experiments,” he explained. As part of the announcement ceremony, Ethereum Blockchain co-founder Vitalik Buterin was given the privilege to initiate the first transaction on the new zkEVM, which was broadcast live on ETHGlobal, according to the Polygon team.
Vitalik Buterin’s transaction at zkEVM was successful and sent 0.005 ETH to a random address in a stale message, apparently referring to Neil Armstrong’s famous first words as he walked on the moon: “A few million constraints for man, unlimited scalability for humanity.”
“ZK technology will be the future of leading altcoin Ethereum”
According to Polygon’s press release, more than 50 companies have shared that they will build using Polygon zkEVM technology. The race to debut the first zkEVMs culminated last week when Polygon rival Matter Labs made zkEVM, zkSync Era, public. Buterin himself has supported the development of scaling systems for Ethereum since at least 2020.
Although Polygon zkEVM is live for users, Nailwal cautioned that this is still a new technology. That’s why it’s called beta main-net. “This is a new technology, so please be careful about it, don’t bring your life savings into it right away,” Nailwal said. Nailwal also said that he believes ZK technology is the future of Ethereum. Meanwhile, Nailwal claimed, “In 18 to 24 months, you will see almost all major web3 applications being built on zk-proof layer-2 blockchains.”
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