Technology

Crypto: Polygon (MATIC) Savior of Ethereum?

Polygon (MATIC), the scaling solution for the Ethereum (ETH) blockchain, has launched zkEVM. It is an open source protocol that promises to greatly improve the parent network’s ability to handle heavy traffic.

What is a zkEVM polygon?

On Twitter, Polygon, a layer 2 blockchain, has unveiled zkEVM, a new solution that should improve scalability in Ethereum.

According to the Polygon team, zkEVM uses a zero-knowledge (ZK) cryptographic protocol, also known as ZK proof, to optimize costs. Specifically, this algorithm combines multiple transactions into one before sending them to the Ethereum blockchain for processing. This greatly reduces gas costs compared to sending them separately to the underlying blockchain.

Ethereum virtual machine compatibility

Polygon zkEVM offers absolute compatibility with the Ethereum Virtual Machine (EVM). In fact, Ethereum developers can easily deploy their smart contracts and decentralized applications (DApps) on the Polygon network. While taking advantage of the security provided by Ethereum. In addition, zkEVM also provides interoperability with developer tools and Ethereum wallets.

With this new solution, Polygon promises to reduce processing times and increase productivity. Separately, the company said that zkEVM also allows the seamless creation of non-fungible tokens (NFTs) and other blockchain-based digital assets.

In recent days, the price of MATIC tokens has skyrocketed from $0.63 to $0.86, up over 36.5% in just 7 days. This announcement does not appear to have affected the price of the token, which has lost 6% of its value in the last 24 hours. This may be a sign that investors, far from fantastic promises, are expecting concrete results.

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Avatar Juni MUFFOK

Juney MUFFOK

I came to blockchain out of curiosity and stayed with it out of passion. I was blown away by the possibilities it offers thanks to the various use cases. With my pen, I hope to help democratize this technology and show how it can help make the world a better place.

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