Polygon (MATIC) zkEVM Achieves Major Upgrade Milestone
Polygon (MATIC) zkEVM, a scaling solution designed to be compatible with the Ethereum Virtual Machine (EVM), has reached a significant milestone with its first upgrade called the Dragonfruit Upgrade. This marks a significant step forward since its launch in mainnet beta in March 2023. The upgrade ensures seamless compatibility with existing smart contracts, developer tooling, and wallets, allowing for a smooth transition without disrupting the ecosystem. Developers can leverage the benefits of zero-knowledge proofs offered by Polygon zkEVM to reduce transaction costs and increase transaction throughput while maintaining Ethereum’s security. With the completion of the upgrade, the system has resumed full activity and is now included in the list of EVM networks that support the PUSH0 opcode.
Polygon zkEVM Strengthens Position as Scaling Solution
The successful upgrade further enhances the functionality and scalability of Polygon zkEVM, making it a strong scaling solution within the Ethereum ecosystem. Its compatibility with existing Ethereum-based networks expands options for developers. By combining zero-knowledge proofs, lower transaction costs, increased throughput, and Ethereum’s base-layer security, Polygon zkEVM aims to provide an efficient and secure environment for decentralized applications and blockchain development. Developers and users can leverage its capabilities to build and interact with decentralized applications while enjoying improved efficiency and reduced costs.
MATIC Holds Significant Seven-Day Increase Despite Range-Bound Trading
While MATIC, the native token of Polygon, has remained range-bound in recent days without testing upper resistance levels, it has seen a modest gain of 0.5% over 24 hours. However, MATIC still holds a significant seven-day increase of 5.9%, reclaiming the $0.500 level after a decline on September 11. MATIC faces resistance at $0.5587 and $0.5930, posing challenges for its recovery. It must surpass these levels to regain the $0.600 mark. MATIC has a support level at $0.4614, which bulls must defend to prevent further downtrends. However, if market conditions favor altcoins, MATIC could experience a price surge.
Hot Take: Polygon (MATIC) zkEVM Achieves Milestone Upgrade, Strengthens Position as Scaling Solution
Polygon (MATIC) zkEVM has successfully completed its Dragonfruit Upgrade, marking a significant advancement in zero-knowledge scaling solutions. This upgrade enhances compatibility and scalability, making Polygon zkEVM a strong player within the Ethereum ecosystem. By leveraging zero-knowledge proofs, developers can reduce transaction costs and increase throughput while maintaining robust security. Furthermore, MATIC, the native token of Polygon, has shown resilience with a significant seven-day increase despite recent range-bound trading. While facing resistance levels, if market conditions improve for altcoins, MATIC could see a price surge. Overall, these developments demonstrate the continued progress and potential of Polygon and its scaling solutions.
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