polygon network, Ethereum’s network congestionannounced the release of an advanced ZK (zero-knowledge)-based scaling solution that could potentially solve the problem. Polygon’s “Miden virtual machine”, MATIC It aims to offer faster verification as it improves the efficiency of its network.
Polygon generated over $610,000 in total network revenue last week. If analysts MATIC They are still optimistic about the issue and have set a target of $6.72 for the end of the current bull run. Ethereum Despite the drop in transaction fees, it continues to grapple with the problem of network congestion. MATIC network plans to solve the bottleneck with Miden, its new scaling solution.
New Update Announced
Polygon Networkis gearing up for a new update to clear congestion on the Ethereum network. Zero-knowledge (ZK) aggregation is fully compatible with Ethereum. Miden virtual machine supports arbitrary logic and operations like other ZK aggregations.
With the addition of the Miden virtual machine, a crucial step has been taken to overcome the technical challenges in the Polygon network. Polygon will also offer developers the ability to compile smart contracts directly on the “Miden line.”
In addition to being flexible, Miden will be Ethereum-based and support official verification.
polygon meshOn-chain activity in the company reached a fairly high level, with $610,000 in revenue last week. Transactions on MATIC exceeded ETH more than four times. With the launch of Miden, fans expect an increase in utility and adoption of the native token MATIC.
The Polygon network has long operated as a Tier-2 scaling solution, thus scaling services and solutions faster. With this feature, it was able to attract developers and applications on the Ethereum network. It offers higher risk-adjusted returns than Ethereum, making it a lucrative token for investors.
Analyst of YouTube channel “Invest and Trade with Jaxx” explained that he is optimistic about MATIC. The analyst has set a target of $6.72 for the MATIC price before the current bull run of 2021 ends.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.