Polygon ecosystem development and upcoming zkEVM launch add to MATIC’s bullish momentum
Polygon’s steady ecosystem development and first mover status in launching a zkEVM has traders feeling bullish about MATIC price. Matter Labs, the firm managing Polygon (MATIC), 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 launch ing a public mainnet before zkSync and Scroll. Zk-based roll-up technology is accepted as the gold standard for scaling. The existing optimistic-based roll-ups like Arbitrum and Optimism have EVM capability but are less secure because they are “fraud-proof.” Malicious transactions on an optimistic roll-up can stay valid for up to seven days or more before being reversed. Thus, giving an advantage to zk-technology. Moreover, the Ethereum (ETH) community’s focus on Liquid Staking Derivatives may shift toward L2 networks after the anticipated Shanghai upgrade in March. This is because the update following Shang...