Attracting the attention of Turkish crypto investors, Polygon (MATIC) announced its plans to launch the much-anticipated zkEVM on March 27. So does this mean more price increases for the Web3 coin?
Polygon (MATIC) will launch zkEVM main-net
Polygon (MATIC), one of Ethereum’s leading scaling projects, plans to launch a new Layer-2 scaling solution, zkEVM, in the main-net phase on March 27. This development puts emphasis on security for the Web3 coin, but also means faster and cheaper transactions.
Meanwhile, Polygon claims that zkEVM is almost identical to the Ethereum Virtual Machine (EVM). So this suggests that users can expect the network to support the same code as Ethereum. This development will allow developers to import applications from Ethereum and use them on Polygon’s zkEVM network without major adjustments. ZK Rollups uses ‘proof’ to show that a transaction is not fraudulent and releases a piece of information about that transaction.
What does progress mean for Polygon?
cryptocoin.com As we reported, Polygon went live in October with zkEVM test net, which distributes EVM for ZK Rollups. This made it possible for Ethereum developers to transfer ZK Rollups from the primary Blockchain without having to rewrite their smart contracts in a different programming language. According to official data, more than 75,000 ‘ZK proofs’ have been produced and around 5,000 smart contracts have been deployed since the live test-net debuted. In Polygon’s official statement, the team highlighted the following:
The Polygon zkEVM has been battle-tested through real test-net use as well as an extensive audit process. And developers can copy and paste code that runs on Ethereum and use it to build on Polygon zkEVM.
However, it should be noted that despite the growth of Tier-2 solutions such as Arbitrum and Optimism, both of which are Optimistic Rollup-based solutions, the majority of zero-knowledge Tier-2 solutions do not yet have Ethereum compatibility.
How has the Web3 Coin price been affected?
Meanwhile, the Polygon team noted that more information on the main-net Beta will be announced by Polygon Labs in the next few weeks. It was also emphasized that Polygon zkEVM has been subjected to a series of rigorous reviews and audits, as ensuring security is of the utmost importance. During the Main-net Beta phase, users and developers can expect full transparency on the security measures that will be implemented to protect the Ethereum community.
This development has been positively received by the Polygon community. Analysts are expecting a significant price increase in the days leading up to the launch. At press time, Polygon (MATIC) was trading at $1.24, up 6.19% on a daily basis. At the same time, the Web coin stands out as one of the rare major altcoin projects that are green on a weekly basis.
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