Safe Wallet on Polygon zkEVM: A Major Milestone Achieved
Safe, formerly known as Gnosis Safe, has finally integrated with Polygon zkEVM, bringing Safe’s battle-tested smart account infrastructure to the new ecosystem.
Safe is one of the most widely used and trusted multi-signature wallet platforms to store digital assets on Ethereum and popular EVM chains in the Web3 space. On the other hand, zkEVM is a pioneering solution for Ethereum-compatible blockchains that emphasizes high scalability and privacy.
This innovation has marked a significant milestone in the blockchain realm by launching its modular account abstraction stack on Polygon’s zkEVM.
Also read: Can Polygon (MATIC) Reach $100 dollars?
Deployment of Safe Wallet on Polygon zkEVM is a significant step in the ecosystem
On September 11, 2023, the teams from Polygon and Safe made the official announcement on X (formerly Twitter).
According to the announcement, the Safe Wallet and Safe Core are now entirely integrated into the polygon zkEVM network and ready for developers to engage, play, manage assets, and create dApps with seamless user experiences.
What to expect from this innovation?
This advancement has the potential to reshape the blockchain technology landscape. By uniting the versatility and adaptability of smart accounts with the limitless scalability of the zk-powered Layer 2 chain, it provides developers with a robust toolkit within the Polygon zkEVM ecosystem, leading to a new era of possibilities.
Using Safe’s development kit (SDK) and Safe Core, Web3 builders can now gain the capability to harness Safe’s proven smart contracts for launching novel use cases on Polygon zkEVM, all while maintaining both speed and security.
This empowers developers to construct applications that deliver high levels of security, user-friendliness, and scalability, which will simplify asset management across different sectors.
This will surely pave the way for revolutionary use cases in fields such as gaming, retail wallets, decentralized social media, and beyond.
Why did Safe choose Polygon zkEVM as their scaling solution?
Safe is the most trusted decentralized custody protocol and collective asset management platform on Ethereum and the EVM (Ethereum Virtual Machine), with $60 billion in assets. It aims to establish a universal standard for the secure custody of digital assets, data, and identities in the Web3 space.
On the other hand, Polygon zkEVM represents a significant paradigm shift in the realm of decentralization. It seamlessly combines the EVM and zero-knowledge proofs (zk-proofs), providing vast scalability and enhanced transaction privacy.
Most layer-2 scaling solutions require the data to be sent entirely to the Ethereum mainnet for verification, but with the new zkEVM technology, this is not necessary. Instead, the data is validated using zk proofs (which are the proof of transaction), with the data being off-chain.
This operational framework led many firms and developers to migrate to the polygon network, as the network allows interoperability, scalability, and global consistency on a larger scale with minimum gas fees.
Conclusion
In conclusion, the deployment of Safe Wallet on the Polygon zkEVM network is a milestone achievement that signifies a transformative phase in the blockchain and cryptocurrency space.
Safe Wallet’s deployment on Polygon zkEVM is just one example of how blockchain technology continues to evolve, driving the industry toward increased efficiency, security, and innovation.
As the crypto landscape continues to evolve, we can expect more exciting developments that further empower users and redefine the way we interact with blockchain networks.
You may also like
