Will Polygon Reach the $2 Mark Again?
Known as a Layer 2 sidechain, Polygon (CRYPTO: MATIC) is designed to help streamline Ethereum's (CRYPTO: ETH) congested, and at times costly, network. As a result of Polygon's innovative solutions to help Ethereum become more usable, high-profile companies are starting to take notice of the potential role that Polygon could have in the world of Web3.
On the technology side of things, Polygon developers recently announced that the blockchain will be taking the next step in its evolution soon. Known as zero knowledge Ethereum Virtual Machine, or more concisely, zkEVMs, this software was believed to be years out from final maturation. But based on a statement in July, it looks like zkEVMs will go live on Polygon sometime in early 2023.
With zkEVMs, Polygon will be able to support more smart contract-based applications without sacrificing speed or costs. Even better, zkEVMs will allow Ethereum developers to move their smart contracts over to Polygon without having to rewrite any code. By moving to Polygon, developers can take advantage of the fast speeds and low fees the Layer 2 sidechain offers. And since it's a sidechain to Ethereum, they get the added benefit of Ethereum's highly desired security and decentralization.
Source Fool.com
