Investing in Crypto: The Bottom and the Looming Bull Run
Cryptocurrency has never been a space for the faint of heart, with its extreme volatility and the associated risks and rewards. But, it's essential...
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Juliette Twain : Apr 25, 2023 9:25:56 AM
Ethereum scaling giants, Polygon and Immutable, are collaborating to develop a gaming-focused network utilizing Polygon's upcoming zkEVM technology. The companies announced their strategic alliance to create the Immutable zkEVM, an Ethereum scaling network that combines Polygon's soon-to-launch zkEVM tech with the Immutable platform, designed for blockchain-based gaming. The announcement was made during the annual Game Developers Conference (GDC).
Although they are not merging, both Polygon and Immutable will continue their individual projects and initiatives. Polygon's zkEVM mainnet network is set to launch in beta on March 27, while Immutable X's existing scaling network, based on StarkEx zk-Rollup tech, will continue alongside the new Immutable zkEVM network.
Immutable co-founder and President, Robbie Ferguson, views the partnership as the "endgame," expecting it to onboard the next billion users into Web3. Both Polygon and Immutable X are Ethereum scaling networks, with different approaches, but similar goals: improving Ethereum's usefulness for video games, large-scale NFT projects, and other decentralized apps (dapps) by providing faster, cheaper transactions.
The anticipated zkEVM solution is expected to enhance Ethereum scaling by combining zero-knowledge proof cryptography-based transaction rollups with full Ethereum Virtual Machine (EVM) support. Despite their history as competitors, Polygon and Immutable's shared vision of expanding Ethereum's capabilities laid the foundation for their partnership.
Immutable zkEVM is scheduled to roll out by the end of Q2 2023, with developers able to start building on software development kits (SDKs) immediately. The network will use Immutable's IMX token for gas fees and transaction sequencing, while also aiming to develop cross-rollup liquidity between the networks.
Both companies believe the Immutable zkEVM network will combine the best aspects of Polygon's next-gen scaling tech with Immutable's gaming infrastructure, offering an attractive platform for developers as the Web3 gaming market grows. Polygon Labs President, Ryan Wyatt, sees Web3 gaming moving towards mainstream adoption, with an increasing focus on providing enjoyable games featuring player-owned and easily tradable assets.
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