- Polygon’s zkEVM reached a brand new milestone, which was an optimistic signal for the community.
- In actual fact, Polygon revealed a number of new deliberate updates for the longer term.
Sandeep Nailwal, the co-founder of Polygon [MATIC], lately posted an replace on Twitter relating to Polygon’s newest zkEVM. In keeping with the tweet, the zkEVM reached a brand new milestone because it handed 99.5% of Ethereum take a look at vectors, placing Polygon zkEVM at extraordinarily excessive EVM equivalence.
Sandeep talked about that this replace was clearly mirrored within the developer expertise the place 1000’s of Solidity sensible contracts have been deployed on zkEVM with none adjustments.
Precisely, over three thousand sensible contracts have been deployed by customers on the open testnet with none problem or transformation.
#zkEVM passing 99.5% of Ethereum take a look at vectors placing @0xPolygon #zkEVM at extraordinarily excessive EVM-Equivalence.
That is additionally mirrored within the Dev expertise the place 1000s of solidity sensible contracts have been deployed on zkEVM with none adjustments by any means.
🏃♂️in direction of mainnet quickly! https://t.co/U4ZRCtgWn1
— Sandeep | Polygon 💜🔝3️⃣ (@sandeepnailwal) December 7, 2022
Learn Polygon’s [MATIC] Worth Prediction 2023-24
Extra updates are coming
Not solely the zkEVM, however Polygon lately introduced a number of new updates which might be within the works and can be launched quickly.
Contemplate this- Polygon revealed that very quickly the parallel EVM engine will enhance gasoline throughput by as much as two occasions on the primary chain. Moreover, researchers and builders have been testing new methods to extend the efficiency of Polygon’s PoS chain to make it even quicker.
FAST CAN BE FASTER ⏫ because of researchers of the Polygon PoS chain 👩🏿💻
The parallel EVM engine will INCREASE gasoline throughput by as much as 2X on the primary chain 🎉
We’re concentrating on a rollout of the parallel engine for late subsequent yr – wish to be taught extra? 👇🏽https://t.co/z79pGAJS63 pic.twitter.com/6dwrpijq8t
— Polygon – MATIC 💜 (@0xPolygon) December 7, 2022
In an effort to enhance the velocity of the community, the builders have give you an idea referred to as “parallel execution.” The objective of a parallelizing engine is the flexibility to course of a number of transactions on the similar time, which makes it totally different from conventional serial execution programs.
In the meantime, Polygon’s NFT area additionally got here into the limelight lately as Rarible, a well-liked NFT market, announced that it will launch on the Polygon community.
Can this assist MATIC?
Although these developments regarded fairly promising for MATIC, issues didn’t but mirror on the value chart. The alt’s value was down almost 4% within the final seven days. As per CoinMarketCap, at press time, MATIC was trading at $0.8903 with a market capitalization of greater than $7.7 billion.
Let’s examine MATIC’s on-chain metrics to higher perceive the token’s trajectory.
CryptoQuant’s knowledge revealed that MATIC’s trade reserve and web deposits on exchanges have been low, suggesting decrease promoting stress. Its MVRV Ratio was additionally significantly down, which is likely to be indicating a doable market backside.
Furthermore, MATIC managed to stay fairly common within the crypto neighborhood as its social quantity registered a spike. Nonetheless, MATIC’s community development decreased during the last week, which could trigger bother for MATIC within the coming days.