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Project Polygon Unveils Most Important Upgrade of 2022 as MATIC Cryptocurrency Price Rise and Impact

Project Polygon Unveils Most Important Upgrade of 2022 as MATIC Cryptocurrency Price Rise and Impact

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Answer Project Polygon Unveils Most Important Upgrade of 2022 as MATIC Cryptocurrency Price Rise and Impact

Polygon revealed what it considers the most important upgrade for 2022 is an upgrade:

“zkEVM polygon” Which is equivalent to EVM for Layer 2 ZK (Zero Knowledge).

Ahead of the reveal, Polygon co-founder Mihailo Bjelic tweeted on July 17:

When we started Polygon, we embraced the Ethereum community.

This enabled us to have 30,000 apps, 150 million users, and become a giant between expansion efforts and alternatives to L1s.

We have pledged to stay committed and give back to Ethereum.

Read:Learn about the details of the new subscription on the Binance platform

He further states that Polygon’s tech team has been quietly working on the latest version, which he refers to as the “Holy Grail of Blockchain Infrastructure” for over a year.

The new version focuses on the development of Ethereum scaling and the innovation of ZK, which is believed to help users experience significantly lower costs and faster speeds.

The team describes Polygon zkEVM’s features in a blog post, claiming that it enables developers to create and deploy multiple smart contracts the same way they do on Ethereum.

In addition, Polygon zkEVM will provide Ethereum-powered tools, allowing users to perform any action as they would on Ethereum at a lower cost and faster rate.

ZK Proof of Validity can be used for verification on the Ethereum network.

The testnet is slated to launch soon, according to the blog, allowing developers and the community to explore possibilities and make improvements.

Read:Bitcoin is facing an “inflection point”, according to the director of the information department at “Soros” company.

The price of the MATIC cryptocurrency was affected after the new upgrade was revealed and the coin has risen by 40% in the last seven days.

Read also:

Elon Musk clarifies his stance on bitcoin after Tesla sells its bitcoin holdings

Tesla sells most of its bitcoin holdings in Q2 2022


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