MATIC Set For Exponential Growth As Polygon Releases zkEVM Mainnet Beta Release Date

Polygon has chosen March 27 as the launch date for the much-awaited zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet beta network.

According to the statement, Polygon did not clarify what the mainnet beta would include, but it vowed to provide more information in the coming weeks, emphasising that “security is the top concern” for the time being.

Polygon zkEVM is a revolutionary technology that, like its competitors Solana and XRP, strives to accelerate the speed and minimise the cost of blockchain transactions. ZK rollups are distinct from Optimistic Rollups in that they do not need the transaction-slowing delay period technique. Instead, zkEVMs construct cryptographic proofs to process transactions more quickly before sending them back to layer 1 networks, such as Ethereum.

Significantly, in contrast to past rollups, Polygon zkEVM’s architecture allows Ethereum to be grown without resorting to half measures. According to the statement, Polygon zkEVM intends to safeguard the Ethereum ecosystem by assisting in the network’s scalability without tampering with its code or structure.

“All the Ethereum development tools are compatible with Polygon zkEVM, so developers can simply copy-and-paste code that already runs on Ethereum to create decentralized applications.”

Since the introduction of the upgrade’s testnet in October 2022, Polygon zkEVM has undergone a battery of tests and audits, passing all applicable Ethereum test vectors for a zkEVM. According to the statement, since October over 84,000 wallets, 5000 smart contracts, and over 75,000 ZK proofs have been produced.

In an interview with Coindesk last week, Mihailo Bjelic said that they were also studying methods to include ZK technology into the Polygon POS chain in order to expand its ecosystem.

MATIC, the native currency of Polygon, increased in value by almost 8% to $1.3 after the news. MATIC profited from January’s market-wide rebound, increasing over 60% after falling over 88% during the crypto winter of last year. According to statistics from CoinMarketCap, the price of the cryptocurrency was $1.31 at press time, an increase of 6.15 percent over the previous 24 hours.

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