High-volume crypto projects MATIC, UNI, BNB have announced new upgrades that will revolutionize their networks. StarkNet, which has joined the stream, plans to upgrade to a new version by the end of this quarter.
Important upgrade news from MATIC, UNI and BNB
Polygon (MATIC)
Ethereum scaling solution Polygon has proposed a technical upgrade for MATIC as part of its Polygon 2.0 roadmap. The proposal is currently awaiting community approval. Once adopted, MATIC will be converted to Polygon (POL), which can be stashed across multiple Blockchains in the Polygon ecosystem.
The new token POL is intended to work on all Polygon protocols, including zkEVM and Supernets. This upgrade also gives Polygon validators the ability to secure transactions across different chains.
Meanwhile, the transition from MATIC to the new token POL is expected to take 4 years. This longer period will give users more time to adapt to the new token. The proposed upgrade is subject to approval from the Polygon community. The team says the transition to POL could begin in a few months, subject to community decision.
cryptocoin.com As we reported, Polygon made radical changes in its team last week.
BNB Coin (BNB)
BNB Coin has set a July 19 date for the “ZhangHeng” upgrade. According to the official announcement on July 12, BNB will undergo a major upgrade known as the “ZhangHeng” upgrade. This hard fork brings various changes and improvements to the BNB Beacon Chain network.
The “ZhangHeng” upgrade was named after Zhang Heng, an accomplished scientist from ancient China. Zhang Heng was a sage who excelled in astronomy, mathematics, engineering, and more.
The upcoming “ZhangHeng” upgrade brings notable changes to the BNB Beacon Chain. One of the new features is the implementation of on-chain asset consensus through the BEP-255 offering. This enhancement specifically aims to improve security by monitoring user balance changes in each block and identifying reconciliation errors. Also, in case of such errors, Blockchain will stop generating new blocks.
Uniswap (UNI)
Uniswap V3 made its debut on the Avalanche C-Chain as another DeFi bluechip expanding into the Avalanche ecosystem. Following in the footsteps of leading DeFi platforms such as Curve and Aave, Uniswap’s launch on Avalanche introduces another DEX option to the network, complementing existing Avalanche-specific exchanges such as Trader Joe’s, Dexalot, and DeltaPrime.
The deployment on Avalanche kicked off in February with a proposal put forward by the University of Michigan’s blockchain club, Michigan Blockchain. The proposal aims to support a diverse and robust multi-chain future and leverage the growing ecosystem on Avalanche. The vote for the proposal was overwhelmingly favourable, with 95%.
Introduced on Ethereum in 2018, Uniswap revolutionized the AMM model. However, it quickly gained popularity in the DeFi field.
StarkNet announces V12.0 upgrade
In another development, the StarkNet team announced the Quantum Leap V12.0, which increases the throughput of the network. The new upgrade went live on the Ethereum network after more than a week of testing on the Goerli network.
At this stage, StarkNet developers have significantly increased transactions per second (TPS) on the network. Additionally, the team stated that their current project goal is to perform hundreds of transactions per second by the end of the third quarter of 2023.
Also, the Quantum Leap upgrade recorded 37 TPS during the testing phase, achieving a notable 90 TPS peak. The Quantum Leap upgrade will improve transaction latency as well as increase network throughput. The upgrade reduces the processing time to under 10 seconds under standard conditions. StarkWare anticipates that these improvements will facilitate the expansion of Ethereum applications in areas such as DeFi and GameFi by providing faster transactions with higher transaction volume for users.
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