Can MATIC Sustain Current Upsurge as Polygon Tests Zero-Knowledge Rollups?

Can MATIC Sustain Current Upsurge as Polygon Tests Zero-Knowledge Rollups?
фото показано с : zycrypto.com

2023-1-18 16:37

Among the cryptocurrencies posting impressive gains is Polygon’s MATIC which has added 11% in the past day at $1.03, coinciding with the network’s test of its zero-knowledge (zk-Rollups) technology before the full deployment. On the weekly CoinMarketCap chart, MATIC has climbed 22%.

Speaking about the technology, the project lead of Polygon zkEVM and PolygonID, David Schwartz, confirmed that the zk-rollups are compatible with Ethereum after creating 12,000 zk-proofs for the testnet. The aim of zkEVM, according to the developer, is to increase the speed at which the layer-2 Ethereum scaling platform can achieve finality without compromising the validity and security of transactions.

Described as the most significant milestone in scalability, zkEVM mostly targets the scaling of the Ethereum blockchain, different from other scaling solutions – zk-SNARK and zk-STARK by StarkNet’s – that guarantee scalability by grouping multiple transactions into one proof to confirm validity on-chain.

How ZK Rollup Technology Works

Polygon’s ZK roll-up is a scaling solution that bundles several off-chain transactions into one on-chain transaction, eliminating the need for individual transactions to be validated on the Ethereum Mainnet by generating validity proofs for each roll-up. The Ethereum-scaling network is reportedly planning to invest more than $1 billion in zero-knowledge technology, where currently, at least four of its products are based, including Zero, Miden, Hermez, and Nightfall.

Polygon zero is one of the solutions in zkEVM that focuses mainly on scalability by reducing the computational cost of coming up with validity proofs, or zero-knowledge proofs, enabling instant confirmation of roll-up transactions on the mainnet. Users can transfer funds smoothly between the roll-up and Ethereum without delays.

Polygon’s latest development happens amid a bullish sentiment that has started the year off well for cryptocurrencies. The MATIC surge remains to be seen if it would be sustainable; however, the overall factors affecting cryptos would inform the next step. But considering the double-digit explosion of the token, investors could be readying to take profits, capping further gains before the next leg up.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Matic Network (MATIC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.5485
Капитализация $0 Rank 99999
Цена в час новости $ 1.0096 (-100%)

polygon matic zero-knowledge coinciding day past network

polygon matic → Результатов: 126


Фото:

Трансформация Polygon: от MATIC к POL, и эволюция к агрегированному Web3

Есть предложение по подключению Polygon PoS к механизму AggLayer. Миграция токена MATIC в POL представляет собой не просто техническую модернизацию, а фундаментальный сдвиг в парадигме развития сети Polygon.

2024-9-9 14:56


Polygon (MATIC) Nears Resistance Level; Whales Eye Avalanche (AVAX) and InQubeta (QUBE), an Emerging AI Altcoin

The crypto scene isn’t short of excitement, from GoDaddy’s recent integration with ENS to Wormhole’s snapshot of its upcoming massive airdrop to Bitcoin hitting $50,000. With the overall market on the rise, altcoins have been gaining traction, with Polygon (MATIC) about to break the $1 resistance level.

2024-2-23 23:00


Polygon’s MATIC Price Faces Potential Downturn Due to Major Holder’s Sales

Polygon holders were left scratching their heads today as Polygon’s native token MATIC faced selling pressure seemingly out of the blue. The selloff might came on the heels of a report from on-chain analytics platform Spot On Chain, which revealed that wallet address 0xa31 – linked to layer-2 scaling protocol Hermez Network which was acquired […] The post Polygon’s MATIC Price Faces Potential Downturn Due to Major Holder’s Sales appeared first on CaptainAltcoin.

2024-2-17 11:34


Polygon Spikes 6.5% In Last 24 Hours As MATIC Investors See Bullish Momentum

Polygon (MATIC) is currently having a rally of its own as it recovered from its range low of $0. 721 recorded last September 22. MATIC is the only asset in top 20 cryptocurrencies to record double-digit gains for the past week Buyers are back and so is the buying pressure, propelling the asset to go higher Polygon now has two versions of SynFutures mainnet At press time, data from CoinGecko shows the crypto is trading at $0.

2022-10-5 15:51


How far can MATIC climb as Polygon works with Shopping.io to integrate it for payments?

Polygon has begun working with Shopping. io as a means of integrating the MATIC cryptocurrency as a form of payment on the platform. Polygon (MATIC/USD) is essentially a platform purpose-built to scale Ethereum (ETH/USD) and provide an infrastructure on top of which developers can create numerous decentralized applications (dApps).

2022-10-6 13:18