Polygon Hermez has been busy building Hermez 2.0 — a ZK implementation of the Ethereum Virtual Machine (EVM).
- ZK Rollups: Brief History
- Polygon Hermez Set to Change the Game
ZK Rollups: Brief History
Zero-Knowledge Rollups have been dubbed by Vitalik himself the most robust and secure long-term option for scaling Ethereum. Vitalik went on a podcast just about a year ago and lamented Polygon’s lackluster approach to security, urging them to embrace rollups rather than embracing the “quick and dirty solution.” The problem with ZK-Rollups is that the technology is mathematically and computationally complex. So much so that it has not been possible to employ ZK Rollups in an environment where the EVM (Ethereum virtual machine) is needed.
This means that the likes of Loopring, who first employed ZK Rollups, have been unable to compete with Polygon, who employed a simple sidechain. Why? Because Loopring cannot handle the smart contract requirements of dApps. This is why you don’t see anything like Curv, Aave, or Sushiswap on Loopring. This problem has hamstrung Loopring in a massive way. The inability of ZK Rollups to support complex dApps and the EVM has become a problem that has yet to be fixed. However, Polygon Hermez, the rollup iteration of the Polygon framework, has announced that they are close to changing this.
All you ever wanted to know about the next iteration of the successful @0xPolygonHermez, collected in 1 blog!
Get the latest scoop on the upcoming Polygon Hermez 2.0 and its revolutionary #zkRollups implementation of the #Ethereum Virtual Machine 👇https://t.co/GwH9eMtLtGTrendingTerra’s Anchor Protocol Is Landing On This Top Blockchain
— Polygon – MATIC 💚 (@0xPolygon) May 13, 2022
Polygon Hermez Set to Change the Game
The bottleneck, which is really a fatal flaw for rollups apparently has been solved. Polygon Hermez 2.0 is a “decentralized Ethereum Layer 2 scalability solution utilizing cryptographic zero-knowledge technology to provide validation and fast finality of off-chain transaction computations.” Polygon notes that this release would be revolutionary, as it includes what they call zkEVM, which is a “virtual machine that executes Ethereum transactions in a transparent way, including smart contracts with zero-knowledge-proof validations.”
As noted, ZK proofs are the safest, most robust way to scale. Simply put, they inherit the base layer security of Ethereum itself. Using a cryptographic proof, ZK Proofs do not sacrifice security or decentralization. There is no validator set required, federated sidechain, week long fraud proof, or any other roadblock to seamless efficiency. The Rollups settle on ETH’s base layer, and thus ETH holders still benefit. Of course, it’s also a very fast solution. Keep in mind, there has never been a dApp, like Aave, that lives on an L2 using ZK Rollups. Polygon Hermez would be breaking ground in doing so.
In short, this would make Polygon the most advanced Layer 2, and give them a massive edge over competitors should be employed in the way which it is described. Polygon Chief Sandeep has been teasing this release since late January. It appears it may be coming soon now.
Bringing to your fingertips, full EVM ZK Rollup via @0xPolygonHermez, soooooon!
Polygon Hermez 2.0!#Ethereum FTW https://t.co/G2y68cKXKq
— Sandeep – Use Stripe on Polygon 💜 (@sandeepnailwal) January 27, 2022