Polygon’s zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up solution will be used for the launch of Uniswap, which is one of the most famous decentralized exchanges (DEX) built on the Ethereum blockchain. All 191 Ethereum addresses cast their ballots in support of the integration, meaning the proposal has already passed the barrier of 40 million votes needed for acceptance.
Polygon is a provider of scaling solutions that was originally known as Matic Network. Their mission is to make it easier for developers to construct decentralized apps (dApps) on the Ethereum network using their technology. Its zkEVM roll-up approach aims to increase Ethereum’s scalability, security and ease of use, while lowering the prices of transactions.
It is expected that the incorporation of Uniswap on Polygon’s zkEVM will bring great benefits to both of these platforms. Uniswap, which has experienced difficulties on the Ethereum mainnet due to high gas prices and poor transaction times, will be able to use Polygon’s scaling solution to provide its customers with transactions that are both faster and cheaper. Meanwhile, Polygon will benefit from the increased adoption and liquidity Uniswap brings to its network thanks to the addition of Uniswap.
The Uniswap proposal to launch on Polygon’s zkEVM was first presented in March 2021, and token holders were given until April 14 at 21:05 UTC to vote on the proposal. Uniswap is a decentralized exchange (DEX) that allows users to buy and sell digital assets. However, the need for approval, which was 40 million votes, was met long before the deadline, and more than 42.4 million votes were registered in support of the merger.
According to Tally, a voting panel for decentralized finance projects, Ethereum infrastructure provider ConsenSys and financial modeling platform Gauntlet were among the top contributors to the vote, both with over 7 million votes.
It is expected that the successful integration of Uniswap on Polygon’s zkEVM will further accelerate the expansion of decentralized finance (DeFi) on both platforms, in addition to the expansion of the Ethereum ecosystem as a whole. Ethereum is positioned to emerge as a more viable and appealing platform for decentralized app development in the coming years as a result of the proliferation of blockchain scaling solutions such as Polygon.
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