Polygon zkEVM is running at a loss of over $1M annually
The post Polygon zkEVM is running at a loss of over $1M annually appeared on BitcoinEthereumNews.com. Researcher Lorenz Lehmann revealed that Polygon acquired Hermez for $250 million in 2021 and renamed it Polygon zkEVM. Lehmann added that deployment of the zkEVM has never been upgraded to use blobs, and the chain is currently running at a loss of more than $1 million per year. The organization has revealed its plans to phase out Polygon zkEVM by 2026, marking the end of its zero-knowledge scaling efforts. The Ethereum side-chain also plans to pivot, focusing on the PoS and AggLayer with leadership from CEO Nailwal. Nailwal becomes CEO of Polygon Foundation Agglayer will usher in the next phase of the Internet : The Trustless Internet https://t.co/zFjR3LGzAF — Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal) June 16, 2025 Sandeep Nailwal, CEO and co-founder of Polygon Foundation, believe that with a healthy treasury and several hundred million in cash, Polygon is in a great position to keep building for the long term. Nailwal disclosed that Polygon PoS will focus on stablecoin payments and real-world assets (RWA) while AggLayer will continue in its efforts to build a trustless Internet of Blockchains. The foundation’s co-founder said the first milestone of the Polygon PoS’s Gigagas roadmap is live in testnet and will push network capacity beyond 1,000 transactions per second in early July, which is only the start. Nailwal disclosed that blockchain already plans to move to zero reorgs and 1-second finality with >5000 TPS achieved in a devnet environment. “I’ve always stayed away from moving into the CEO role because I’ve been focused on building PF as an institutionally governed foundation. But right now, Polygon needs clear direction and focused execution and that means stepping up.” –Sandeep Nailwal, CEO and Co-founder of Polygon Foundation. The firm believes the new upgrade will put Polygon PoS amongst the most performant blockchains by September to…
The post Polygon zkEVM is running at a loss of over $1M annually appeared on BitcoinEthereumNews.com.
Researcher Lorenz Lehmann revealed that Polygon acquired Hermez for $250 million in 2021 and renamed it Polygon zkEVM. Lehmann added that deployment of the zkEVM has never been upgraded to use blobs, and the chain is currently running at a loss of more than $1 million per year. The organization has revealed its plans to phase out Polygon zkEVM by 2026, marking the end of its zero-knowledge scaling efforts. The Ethereum side-chain also plans to pivot, focusing on the PoS and AggLayer with leadership from CEO Nailwal. Nailwal becomes CEO of Polygon Foundation Agglayer will usher in the next phase of the Internet : The Trustless Internet https://t.co/zFjR3LGzAF — Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal) June 16, 2025 Sandeep Nailwal, CEO and co-founder of Polygon Foundation, believe that with a healthy treasury and several hundred million in cash, Polygon is in a great position to keep building for the long term. Nailwal disclosed that Polygon PoS will focus on stablecoin payments and real-world assets (RWA) while AggLayer will continue in its efforts to build a trustless Internet of Blockchains. The foundation’s co-founder said the first milestone of the Polygon PoS’s Gigagas roadmap is live in testnet and will push network capacity beyond 1,000 transactions per second in early July, which is only the start. Nailwal disclosed that blockchain already plans to move to zero reorgs and 1-second finality with >5000 TPS achieved in a devnet environment. “I’ve always stayed away from moving into the CEO role because I’ve been focused on building PF as an institutionally governed foundation. But right now, Polygon needs clear direction and focused execution and that means stepping up.” –Sandeep Nailwal, CEO and Co-founder of Polygon Foundation. The firm believes the new upgrade will put Polygon PoS amongst the most performant blockchains by September to…
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