All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Polygon and its zkEVM innovations have received a new publicity boost from Sandeep Nailwal.
- Despite the SEC’s designation of MATIC as a security, its future prospects remain high.
The launch of Polygon (MATIC) and its zkEVM development has played a crucial role in the progress of Web3, bringing significant advancements and addressing key challenges in the blockchain industry.
Accordingly, Polygon’s co-founder Sandeep Nailwal stated on Twitter that the mainnet launch of the Polygon zkEVM network has altered the world forever, and now it is about to undergo “hyper-blockchainization.”
Nailwal’s statement reflects his belief that zkEVM is a game changer for the blockchain industry, offering new opportunities for Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), supply chain management, and other areas. It is worth noting that Nailwal’s statements come amid an accelerating attack on top-tier altcoins by the US Securities and Exchange Commission (SEC).
As earlier reported, the SEC has decided to sue Binance and Coinbase for offering unregistered securities. For the first time, Polygon (MATIC) assets were classified as securities. Similarly, Cardano’s ADA and Solana’s SOL were also included on the list, along with other well-known cryptocurrencies.
Unleashing the Power of zKEVM
Notably, the activation of the first version of the Polygon zkEVM network on the mainnet was indeed a highly anticipated milestone for Polygon enthusiasts. This development represents a significant step forward in Polygon’s mission to enhance scalability, security, and privacy on the Ethereum network.
Also, MATIC stands to benefit from this groundbreaking technology, positioning itself as a key player in the blockchain industry.
Furthermore, the activation of zkEVM has several important consequences for Polygon and its supporters. To begin with, it reinforces Polygon’s position as a premier blockchain platform by offering a scalable and efficient infrastructure for dApps and smart contracts.
Another key advantage of zkEVM is the potential to reduce fees by orders of magnitude. By utilizing zero-knowledge proofs, zkEVM can significantly lower transaction costs compared to traditional EVM-based transactions. Meanwhile, Eduardo Antuña, the lead developer of Polygon zkEVM, estimates the network can handle 10,000 transactions for just $1 in gas.
Can MATIC Reach $5?
As of the time of writing, MATC was trading at $0.7786, suggesting a price increase of 2.32% over the past 24 hours.
Notably, Polygon’s native token, MATIC, has emerged as a frontrunner in the wake of zkEVM’s launch. As the preferred scaling solution for Ethereum, Polygon has witnessed a surge in popularity and network activity.
As more developers and users flock to the network, the demand for MATIC is expected to rise and hence, its price. Additionally, the improved scalability, security, and privacy offered by zkEVM will attract institutional investors seeking robust blockchain solutions.
Given these considerations, a target price of $5 for MATIC appears to be within reach in the near future.
