EthCC 5, an Ethereum ETH/USD community conference, took place at the Maison de la Mutualité in Paris this past week, and it did not disappoint.
The largest Ethereum meetup in Europe brought in some big-time speakers such as Vitalik Buterin, Stani Kulechov and Jordi Baylina, who attracted big crowds keen on learning about the latest developments in the Web3 ecosystem.
Perhaps the most exciting moment at the conference was when Baylina, the tech lead of Polygon’s MATIC/USD Hermez, took the main stage. It was there where he unveiled a ground-breaking scaling solution that had been whispered about for weeks in advance — and would continue to be the talk of the conference.
What Happened: Baylina announced Polygon’s ZkEVM, a zero-knowledge rollup that is fully compatible with Ethereum’s programming language, Solidity.
Zk rollups are widely regarded as the best Ethereum scaling solution, however, Zk rollups tend to require a lot of technical prowess. Developers working on Zk rollups must combine a couple of different programming languages, which creates a friction point that drastically slows development. Polygon’s announcement changes this.
Polygon, Zk rollups and a Vision: Benzinga was able to chat with Baylina about the importance of this announcement and why Zk rollups may be the scaling solution Ethereum is looking for.
“The biggest advantage is that you don’t have to wait one week to remove funds. In ZK rollups, also, the financial costs are less. You don’t need collateral if you do something wrong. In ZK rollups we don’t have this gaming layer.
“So yeah, it’s going to be much faster and much cleaner — it’s the way to go. I think that the future is going to be with Zk rollups,” Baylina added.
With the advantages of Zk rollups laid out, Baylina went on to explain what the broader impacts would be. “At the end of the day, we are growing the capacity of the transactions. That means that theoretically, the transaction price will go lower. In the…
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