The governance of Uniswap, the second largest decentralized exchange (DEX) in Ethereum, has approved the implementation of its version 3 (v3) on the second layer of the zkEVM network recently launched by Polygon.
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The proposal, whose vote ended on April 14, was approved unanimously. Among its foundations are the “transparent user experience” offered by zkEVM, the existence of tools and technologies for the necessary recreation of Ethereum Virtual Machine (EVM)-compatible code, and the fact that “Polygon aligns with the Ethereum values”.
zkEVM, which stands for “Ethereum Virtual Machine with zero-knowledge proofs”, is the term used to identify rollups that work with this technology. A rollup is a second layer scalability solution that bundles (“rolls”) many transactions to bring them all together to the main network. Thus, it becomes faster and cheaper for users.
Polygon and Matter Labs were the first to release ZK-like rollups fully compatible with the Ethereum Virtual Machine (EVM). For this reason, both companies are in a bid to gain a greater market share as soon as possible.
So far, zkSync Era, Matter Labs’ rollup, outperforms Polygon’s in average transactions per second (2.87 vs. 0.07) and total value locked ($243 million vs. $4.5 million), according to L2beat data .com.
Arbitrum and Optimism, the most used rollups at the time of writing this article, are of the optimistic type. This means that their operation differs from those of the ZK type in the method they use to check and demonstrate the validity of the transactions they include.
Optimistic type rollups, such as Arbitrum and Optimism, offer high compatibility with EVM. Instead, those based on zero-knowledge proofs promise greater privacy and faster completion. However, early forays into ZK rollups were hampered by specialized programming languages, making it difficult to migrate code from the mainnet to a ZK rollup.
Uniswap and its various recent releases
This Uniswap strategy in zkEVM is complemented by other expansions that have been reported in CriptoNoticias, such as its arrival in the BNB Chain network. Thus, Uniswap seeks to strengthen its position as one of the most important DEXs on Ethereum and its compatible networks.
According to statements by Matter Labs to specialized decentralized finance (DeFi) outlets, Uniswap will launch soon on zkSync Era as well.
Meanwhile, Uniswap continues to grow. Last week, the announcement of its Apple mobile wallet, with support for Ethereum, Polygon, Arbitrum and Optimism, was reported in this medium.
take from: criptonoticias