Polygon zkEVM, a layer-2 scaling solution, will undergo optimizations in the following weeks, drastically reducing costs by about 20%, even without data compression.
This change should make the platform more cost-effective and convenient for its users. A recent Twitter conversation, however, highlighted that users already have access to tools that may help them minimize the cost of using Polygon zkEVM.
First, what are transaction fees on Polygon zkEVM for?
Transaction fees cover the cost of data availability & posting a proof to Ethereum. Polygon zkEVM publishes state data for every transaction processed.
Fees also cover the expense of running the server that generates proofs pic.twitter.com/fO1Wphduvb
— Polygon (Labs) (@0xPolygonLabs) May 22, 2023
The fees associated with Polygon zkEVM transactions are used to pay for the upkeep of the servers that generate proofs on the Ethereum network and the expenses related to making the underlying data available. It’s important to note that data availability accounts for almost 80% of the network transaction price. Although data compression is currently unavailable, plans for enhancements and EIP-4844 are anticipated to significantly improve the system’s efficiency.
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Tips from Polygon on optimization
To optimize fees on Polygon zkEVM today, users can employ several strategies. Timing plays a crucial role, particularly for on-network transactions. Users are advised to wait for periods when Ethereum gas fees are at their lowest, as most of the transaction fee is associated with interactions with the Ethereum Layer 1 (L1). Platforms like ethereumprice.org provide tools to monitor gas prices and determine the most cost-effective transaction times.
Users should also think about interacting with Polygon zkEVM when network traffic is high. Despite the seeming contradiction, costs on a roll-up network often drop with increasing activity. The rising number of transactions is causing proof-generating expenses to be spread out. This is further supported by a graph showing how average transaction costs decrease as transaction volume increases.