Immutable and Polygon Labs Partner to Develop zkEVM
Immutable announced the strategic partnership with Polygon Labs for creating Immutable zkEVM. This new product revolutionizes the Ethereum network by introducing advanced security features and allowing for unprecedented scalability. The zkEVM will be an essential step toward the evolution of Ethereum, providing developers with more powerful tools to build on the network.
The zkEVM introduces several new security features to the Ethereum network. These features include zero-knowledge proofs, providing greater privacy and verifiability than traditional public networks. Additionally, the zkEVM has been architected with post-quantum cryptography in mind, meaning it will remain secure even in the face of quantum computing attacks. The zkEVM will also be interoperable with existing Ethereum networks, allowing users to transition from their current EVM to the upgraded version seamlessly.
Another significant benefit of the zkEVM is its ability to scale. By introducing advanced cryptographic techniques, the zkEVM will be able to handle more transactions in less time, allowing for greater throughput and improved performance. Additionally, the zkEVM will feature layer 2 solutions such as Plasma and sharding, which will further improve scalability and reduce gas costs.
Immutable & Polygon: Suspected Insider Trading Ahead of Announcement
The announcement of the partnership between Immutable and Polygon Labs was met with excitement by the Immutable community. Nevertheless, according to 0xScope, 1.5 million IMX were put into Binance two hours before the announcement by an address (0xa8…7a49) suspected of insider trading, which may generate more than $750,000 in revenue.
Action Taken by Exchange and Community
In response to the suspected insider trading, Binance suspended the account associated with the address and launched an investigation. The Immutable community also responded quickly, calling for an audit of the address and threatening to launch a hard fork if the investigation yielded evidence of wrongdoing.
The partnership between Immutable and Polygon Labs is an exciting development for the Ethereum ecosystem. The zkEVM will introduce several new features that will improve the security and scalability of the network, paving the way for the next generation of dApps. However, the suspected insider trading scandal has cast a shadow over the announcement, and Binance and the Immutable community are taking swift action to ensure that justice is served.
