Polygon’s zkEVM vs zkSync – The ‘how’ of it all

• zkEVM’s variety of transactions reached a brand new all-time excessive on 25 Could.
• zkSync was nonetheless forward of zkEVM by way of energetic addresses and transactions.

Polygon [MATIC] revealed a brand new weblog highlighting its much-talked-about zkEVM’s efficiency within the month of Could.

As per Polygon’s newest tweet posted on 31 Could, single-day transaction quantity on Polygon zkEVM reached a brand new all-time excessive. The ATH was famous on 25 Could 2023 because the variety of transactions exceeded 25,000. 

In Could, single-day transaction quantity on Polygon #zkEVM reached all-time highs ⬆️

👉🏾 Regular TVL progress
👉🏾 Decrease charges

Could metrics for Polygon zkEVM present that exercise adopted liquidity. pic.twitter.com/s0XIm4EZZZ

— Polygon (Labs) (@0xPolygonLabs) May 30, 2023

A month of Polygon zkEVM setting new data

The month of Could turned out to be beneficiant for zkEVM, because the roll-up efficiency seemed promising. One of many achievements was that over the past two weeks, gasoline optimizations drastically lowered the price of transacting on the community.

For reference, in contrast to Ethereum, rollups develop into cheaper as exercise will increase. This was as a result of amortization of the price of producing proofs throughout all transactions in a batch. 

Supply: Polygon

Over the previous few weeks, there have been extra transactions as a consequence of a lower within the gasoline payment. A rise within the variety of transactions instantly signifies that extra customers share the price of proof technology.

Not solely that, zkEVM’s adoption additionally witnessed a surge, as evident from its variety of distinctive wallets. As per the weblog, distinctive energetic wallets elevated by 54% from 25 April to 25 Could, with the largest rise occurring when the brand new property had been linked on 15 Could. 

Rollups’ TVL reaches new heights

DeFi-related property surpassed the $10 million milestone, bringing the general worth of the community’s property to virtually $18 million. This resulted in a substantial surge in zkEVM’s TVL.

It was additionally fascinating to notice that not solely zkEVM, however zkSync, and Starnet additionally hit data in TVL this month.

ZK-Rollups are quickly attracting liquidity and a focus.

zkSync Period, Polygon zkEVM, and Starknet all hit an all-time excessive in TVL as we speak.

— Patrick | Dynamo DeFi (@Dynamo_Patrick) May 29, 2023

Polygon zkEVM vs zkSync Period

Although final month’s figures seemed encouraging for zkEVM, was it sufficient to outperform its competitor, zkSync Period?

A take a look at Artemis’ knowledge supplied the much-needed reply. zkSync was forward of zkEVM by way of virtually each metric onboard.

As an example, although zkEVM’s each day energetic addresses and transactions spiked final month, they had been nonetheless decrease in comparison with zkSync. The identical remained true for TVL, as zkSync’s chart was greater. 

Supply: Artemis

A take a look at MATIC’s efficiency

Whereas zkEVM’s efficiency was commendable, the identical can’t be stated for MATIC. In keeping with CoinMarketCap, MATIC’s worth declined by greater than 1% within the final 24 hours.

At press time, it was buying and selling at $0.893 with a market capitalization of over $8.2 billion.

Is your portfolio inexperienced? Examine the Polygon Revenue Calculator   

As per CryptoQuant, a motive behind the worth decline could possibly be MATIC’s rising change reserve. An uptick within the metric suggests {that a} token is underneath promoting stress.

Bullish sentiment round MATIC additionally registered a decline of 15% within the final 24 hours, which was worrying. 

Supply; CoinMarketCap