Uniswap, the leading decentralized exchange (DEX) on Ethereum, has launched its highly anticipated V3 protocol on Polygon’s zkEVM. This move is expected to significantly boost decentralized finance (DeFi) scalability and interoperability while improving the user experience for traders.
A New Era Of DeFi Scalability?
Per the announcement, the leading DEX and Polygon will work together to provide faster and cheaper transactions while maintaining high security and trust through cryptographic zero-knowledge proofs. But what is Polygon’s zkEVM, and why is it attracting the interest of many protocols?
Polygon’s zkEVM is a Layer 2 scaling solution that provides Ethereum Virtual Machine (EVM) equivalence. It is fully compatible with the Ethereum ecosystem, allowing seamless integration with existing smart contracts and tools.
The zkEVM uses Zero-Knowledge Proofs (ZKPs) to validate and finalize off-chain transaction computations, providing high security and trust. ZKPs also enable the zkEVM to achieve fast and cheap transactions, making it an ideal scaling solution for DeFi protocols like Uniswap.
Uniswap V3, on the other hand, is a major upgrade to the popular DEX, introducing new features such as concentrated liquidity, multiple fee tiers, and more flexible trading strategies.
