BlocksInform
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. The weekly market capitalization chart shows Matic up 22%.
Speaking of technology, the head of the polygon zkevm and polygonid project, david schwartz, confirmed that zk-rollups are compatible with ethereum after creating 12,000 zk-proofs for the testnet. The purpose for zkevm, in the promoter's opinion, is to increase the speed with which the Layer 2 scaling platform can achieve its purpose without compromising transaction validity and security.
Referred to as the most important step in scalability, zkEVM primarily targets Ethereum blockchain scale-up, different from other scaling solutions – StarkNet zk-SNARK and zk-STARK – that ensure scalability by bundling multiple transactions into one evidence to confirm chain validity.
How ZK Rollup technology is up and running.
Polygon's ZK roll-up is a resizing solution that brings together multiple offline transactions into a single chain transaction, eliminate the need to validate individual transactions on the Ethereum main network by generating evidence of validity for each synthesis. The ethereum-scaling network plans to invest more than a billion dollars in zero-awareness technology, where currently, It has at least four products that are based, including zero, miden, hermez, and nightfall.
Polygon zero is one of the solutions in zkevm which focuses primarily on scalability by reducing the cost of computation to come with proof of validity, or no proof of acquaintance, enabling the synthesis operations on the main network to be confirmed instantaneously. Users can easily transfer funds between the roll-up and Ethereum in no time.
Polygon’s latest development happens amid a bullish sentiment that has started the year off well for cryptocurrencies. It remains to be seen whether the material thrust would be sustained; however, the global factors influencing cryptos would inform the next step. But given the double-digit explosion in the token, investors may be prepared to take profits, capping new earnings before the next step.
