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We recently reported the upcoming launch of a unique product in the Ethereum overlay landscape: the Polygon zero-knowledge Ethereum Virtual Machine solution.
As a reminder, layer 2 solutions such as Polygon exist to solve Ethereum’s congestion problems (a “layer 1”). More transactions per second, without sacrificing security or decentralization. Except that until now, there remained a major limitation: the applications developed on the Ethereum mother blockchain could not be transposed as is on layer 2.
Last July, the Indian creators of Polygon unveiled zero-knowledge Ethereum Virtual Machine, a zkRollup-like second-layer solution that is absolutely compatible with the Ethereum Virtual Machine.
Developers are very excited about zero-knowledge Ethereum Virtual Machine: since the opening of the testnet, they have been able to see that they benefit from the network effects of the EVM while inheriting its development tools and its support infrastructure. No more tinkering!
The opening of the mainnet is planned for the first quarter of 2023.
Expected impact on the price
The implementation of zero-knowledge Ethereum Virtual Machine implies that MATIC tokens will be used to pay for gas on the network. This will significantly increase the demand for MATIC.
The launch of zero-knowledge Ethereum Virtual Machine should most likely lead MATIC to outperform as the token will be used in parallel to increase network decentralization with more staking.