Cross Chain Transactions of Over $880k Completed since Polygon zkEVM Launch

03/28/2023 14:06 • Tech Ticker • 129 views

According to data from Dune Analytics, over 2500 users have completed over 2700 cross chain transactions of $880000 since Polygon zkEVM was launched nearly 24 hours ago. Currently, Polygon TVL is about $884000.

Polygon zkEVM has had more than 2500 cross chain users in the past 24 hours

With the increasing demand for decentralized finance (DeFi), various blockchain platforms are racing to provide faster and cheaper transaction processing for their users. One of the promising platforms in the DeFi space is Polygon, formerly known as Matic Network. Recently, Polygon launched their zkEVM solution which offers fast and secure cross-chain transactions. In this article, we will delve deeper into the cross chain transactions on Polygon zkEVM, and the impressive adoption rate it has achieved since its launch.

What is Polygon zkEVM?

Polygon zkEVM is a Layer 2 scaling solution that is built on top of the Ethereum network. It combines the efficiency of ZK-rollups with the EVM compatibility to offer faster and cheaper cross-chain transactions. With Polygon zkEVM, users can benefit from the security and decentralization of the Ethereum network, while enjoying the scalability and low fees of Polygon.

Adoption Rate of Polygon zkEVM

According to data from Dune Analytics, over 2500 users have completed over 2700 cross chain transactions of $880000 since Polygon zkEVM was launched nearly 24 hours ago. This adoption rate is impressive, given that Polygon zkEVM is a new solution that was launched recently. This indicates the growing demand for faster and cheaper cross-chain transactions in the DeFi space.

The Benefits

One of the major benefits of using Polygon zkEVM is the low transaction fees. With the current congestion on the Ethereum network, users are often forced to pay high gas fees to get their transactions processed. With Polygon zkEVM, users can enjoy significantly cheaper transaction fees, making it an attractive option for those looking to save money.
Additionally, Polygon zkEVM offers fast transaction processing, with transactions being confirmed in seconds. This is a significant improvement over the slow and often unreliable transaction processing on the Ethereum network.

The Future of Polygon zkEVM

The adoption rate of Polygon zkEVM since its launch is a testament to its potential in the DeFi space. As more users seek faster and cheaper transaction processing, Polygon zkEVM is poised to become a leading solution in the space. Given that Polygon already has a strong community and ecosystem, the growth potential for Polygon zkEVM is high.

Conclusion

Polygon zkEVM offers a promising solution to the challenges that users face when transacting on the Ethereum network. Its fast cross-chain transaction processing and low fees are attractive to users seeking efficiency and cost-effectiveness. With the impressive adoption rate of over 2500 users completing over 2700 cross-chain transactions of $880000 since its launch, Polygon zkEVM is a promising solution in the DeFi space.

FAQs

1. How does Polygon zkEVM achieve faster transaction processing?
– Polygon zkEVM combines the efficiency of ZK-rollups with the EVM compatibility to offer faster transaction processing.
2. What is the main benefit of using Polygon zkEVM?
– The main benefit of using Polygon zkEVM is the low transaction fees, making it a cost-effective option for users.
3. What is the future of Polygon zkEVM?
– With its impressive adoption rate and potential for growth, Polygon zkEVM is poised to become a leading solution in the DeFi space.

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