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Polygon ecosystem development and upcoming zkEVM launch add to MATIC’s bullish momentum

Published 02/15/2023, 12:46 PM
Updated 02/16/2023, 02:00 AM

Polygon Labs, the development and growth team for Polygon, announced that the beta version of its zero-knowledge Ethereum Virtual Machine (zkEVM) would launch on March 27, 2023. It’s possible that Polygon will enjoy a first-mover advantage in this space by launching a public mainnet before zkSync and Scroll.

Zk-based roll-up technology is accepted as the gold standard for scaling. The existing optimistic-based rollups like Arbitrum and Optimism have EVM capability but are less secure because they are “fraud-proof.” Malicious transactions on an Optimistic Rollup can stay valid for up to seven days or more before being reversed. Thus, giving an advantage to zk-technology.

The volume of NFT sales and mints on Polygon. Source: Nansen
Total liquidity across DeFi applications on Polygon. Source: DefiLlama
Open interest volume for MATIC futures contracts. Source: CoinGlass
Polygon balance on exchanges. Source: glassnode
MATIC/USD daily price chart. Source: TradingView

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