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The Coin Rise 2025-06-18 22:30:47

Polygon zkEVM Team Breaks Away to Launch Zisk Amid Restructuring

Polygon zkEVM Team Breaks Away to Launch Zisk Amid Restructuring

Polygon Labs co-founder Jordi Baylina and the team behind the zkEVM network have spun out into an independent company called Zisk. The move comes as the Polygon Foundation plans to shut down the zkEVM chain due to low usage and refocus its priorities. Zisk to Build New Privacy Tech for Blockchains Zisk became its own company on June 13, 2025, after starting inside Polygon Labs in May 2024. As announced, the new startup will focus on creating a new zero-knowledge virtual machine (zkVM). This system is a tool that helps verify blockchain data without revealing the actual details. This makes transactions more private and helps blockchains run faster and more securely. In a recent post on X, Jordi Baylina said Zisk will be open-source and have low latency, making it easier for developers to build on the platform. Notably, all zkEVM-related tools and assets have been moved to SilentSig Switzerland GmbH, a company wholly owned by Baylina. Polygon Shifts Focus After New CEO Takes Over Polygon Foundation is changing direction shortly after co-founder Sandeep Nailwal became the new CEO. In a recent statement, Nailwal revealed that the zkEVM chain will be shut down due to low use and high operation costs. He shared that the foundation will focus on improving Polygon PoS and building Agglayer, a new tool connecting different blockchains. This update caught the attention of the blockchain community, with many members stating that this decision is long overdue. Blockchain expert Lorenz Lehmann noted in a X post that Polygon bought the zkEVM project, originally Hermez, for $250 million in 2021. However, the company stopped working on or developing it. Lehmann added that the network was losing over $1 million yearly, likely contributing to the decision to shut it down. Baylina Remains Connected to Polygon Despite launching Zisk, Jordi Baylina continues to contribute to the Polygon ecosystem. He will retain his status as a co-founder and serve as an advisor to the foundation. With the creation of Zisk, the former zkEVM team has a new path forward. They are focused on advancing zero-knowledge technologies outside of Polygon’s direct structure. Zisk will focus on improving zero-knowledge tools and helping blockchains grow more securely and privately. The recent launch of Zisk from Polygon is not an isolated event. It is part of a bigger pattern in the crypto world. Top leaders and expert teams leave large, well-known projects to start their own companies. The growing popularity of decentralized finance (DeFi) and Non-fungible tokens (NFTs) has increased demand for high-speed, low-cost, and scalable blockchain solutions. The post Polygon zkEVM Team Breaks Away to Launch Zisk Amid Restructuring appeared first on TheCoinrise.com .

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