Once zkEVM become popular amongst L2s, expect a massive boost in Ethereum dApp development and DeFi as a whole

Although the DeFi market is doing well right now, its still far from the DeFi summer days that we experienced back in 2021.

And while we can definitely attribute that to the downturn in the crypto and global economy, I still think that breakthroughs in new technologies can kickstart some sort of rally.

One of the major issues with DeFi right now is the fact that it’s still pretty expensive for the consumers who are opting for L2s to help them out with this issue.

However, many devs are finding the process of migrating contracts pretty arduous due to the fact that the vast majority of L2s are not EVM equivalent but are instead a high-level-language equivalent which means that devs have to rewrite almost the entire code.

It doesn’t help that vast majority of L2s like Starkware, MatterLabs, and zkSync use this system right now

A zkEVM on the other hand would make everything much easier for devs since all it would take for them is to copy and paste their code. Of course they’ll still have to revise it to make sure everything is 100% correct but that would be a HUGE improvement of what they have to to do right now.

Currently there are more than a couple L2s are developing zkEVMs but only Polygon has an open source zkEVM testnet that is live right now and will apparently be launching the mainnet soon after devs teased with some tweets. The thing I like about this zkEVM is that it won’t be part of the Polygon PoS chain but it’ll be a fully fledged Ethereum L2 rollup with gas also being paid in ETH which I think would be a great addition to the Ethereum ecosystem.

zkSync also has a zkEVM testnet but its still closed source (which i dont get why) even after telling us time and time again that they’ll make the code open source

If this proves to be a success with the devs them I’m 100% sure almost all L2s would start following suit as it would make Ethereum a much faster, cheaper, and more efficient place for both the users and devs alike.