The Critical Day Has Arrived For Polygon, But Things Are Going Bad!

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The day that Polygon (MATIC) investors have been eagerly waiting for has arrived. It was noteworthy that the Ethereum Layer-2 protocol decreased despite the rise expectation.

As Koinfinans.com reported, the long-awaited zkEVM protocol on the network was activated today. This update is critical enough to change the course of the network contains.

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A lot of time has been spent developing zkEVM, which has invested a total of about 1 billion dollars to date. The protocol was first introduced in the middle of last year, but the testnet was not released until October 2022. Today, it provides the most ambitious, fast and inexpensive transaction layer for the Ethereum blockchain. zkEVM‘s mainnet beta is getting ready to go live.

While Polygon was designed as a major improvement over Ethereum as a whole, zkEVM was designed as a major improvement over Polygon.

According to information shared by Web3.0 trainer Bickersteth Emmanuel, the proof time of transactions performed on the zkEVM protocol is less than two minutes for a batch of 10 million gases. under.

With zkEVM, any protocol with Ethereum compatibility can easily work or connect with the new Polygon tool.

Polygon Price Was a Dead End

The excitement in the community helps create a big jump in MATIC price. However, at the time of this writing, MATIC is trading at $1.08, down 0.55% in the last 24 hours and more than 7% in the last seven days.

The token’s correlation with BTC and negative sentiment are thought to be the reason behind the drop.

That will change once ZkEVM goes live, and many envision sustained growth going forward thanks to this launch and Polygon’s positioning as the blockchain of choice for mainstream Web2.0 companies.

You can follow the current price action here.


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