Yahoo Finance Video
On this week's episode of The Crypto Mile our host Brian McGleenon speaks to Mihailo Bjelic, co-Founder of Polygon, a layer two scaling solution that runs alongside the Ethereum blockchain, and issuer of the Matic cryptocurrency.On March 27th Polygon announced their zkEVM technology. So, what is Polygon's zkEVM, is the hype justified and will zkEVM be the solution to the age-old issue of scalability?In this episode, Polygon's co-founder explains why the zkEVM upgrade can solve the problem of the blockchain tri-lemma, which has foxed developers for years. This being that either security, decentralisation, or scalability must be sacrificed to improve the performance of the other two factors when building a blockchain. The co-founder also discusses how this layer two will eclipse the economic activity currently on the Ethereum blockchain.Polygon has committed $1bn and raised $450m to build zkEVM, which they claim massively improves transaction speeds and cuts transaction costs by over 90%, "all while remaining fully compatible with Ethereum and retaining its robust security model".In the interview, Bjelic declared that the launch of the zkEVM upgrade is a critical step in seeing mass adoption of this web3 technology by the global technology, e-commerce, fashion, and entertainment industries.