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Will Polygon’s MATIC Claim The $10 Price Tag By Q2 Following This Upgrade?

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Feb 11, 2022

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Highlights

    Polygon’s Hermez 2.0 attracts talks and interests revolving around zk-Rollups.

    The network continues its sprawl, garnering inputs for its bullish price run.

The ever-curious crypto folks who fail to resist over the future prospects of the coin market. Have set their radar on Polygon, which has been on a constant uphill trek. With its growing count of utility, developments, initiatives, and metrics. This time around, Polygon is the talk of the town with talks revolving around Hermez 2.0 and zk-Rollups.

Successively, Polygon’s Hermez 2.0 has been seeking the interests of the fraternity who have been pondering over zk-Rollups. And scalability of the network, which has been the pivotal factor for developmental initiatives. In the interim, the network’s sprawl has been compounding the inputs for its bullish price run in the future.

Will zk-EVM Be The Stepping Stone For Polygon’s Top-10 Dream?

 Polygon network’s Hermez 2.0 (zk-EVM) which is expected to launch on the test-net in Q2 and mainnet in Q3. Still remains in the mist for a majority of the investors, while the tech-savvies have been following up. A couple of months ago the Hermez team had rolled down the curtains over zk-EVM which is the Hermez 2.0. 

Successively, Hermes 2.0 intends to solve the pertaining limitations around zk-roll-ups, like the difficulty to support smart contracts. The Polygon Hermez team has been working on the zk-Implementation and has been developing a new consensus mechanism for decentralized L2 protocol. The team has been considering Proof-of-Efficiency over the existing Proof-of-Donation.

The new protocol aims to cover the requisites such as producing L2 batches, empowering efficiency. Avoiding control from any single party, protection from malicious attacks, and total validation effort proportional in the network.

Proof-of-Efficiency (PoE) model is the protocol of creation of batches that consists of a 2-step model, that splits activities between different parties. The two steps include “Sequencers” and “Aggregators”. 

As cited, the PoE consensus mechanism solves some of the challenges of decentralized and permission-less validators for zk-rollups. In addition, the 2-step model adheres to the requisites whilst tackling limitations and empowering the network.

Polygon Continues To Compound Its Strengths?

The Polygon team has been hosting a number of initiatives, a recent one comes as Polygon Academy. Which is a free online school to help Web 2.0 developers transit to Web 3.0.

On the other hand, the metrics have been escalating at a steady pace. Uniswap Polygon TVL has gone parabolic, which has doubled since the previous week.

In succession, Polygon Studios has been striding towards NFTs, which has been a welcoming move for creators, investors, and savvies.

On the contrary, Polygon’s PoS bridge has been the 4th most used dApp on Ethereum over the past month. The mentioned strengths are in addition to the numerous adoptions of the network.

Summing up, Polygon with its developments around scaling, growing utility, metrics would continue to garner the interests of institutional investors and retailers.

With the current stance, Polygon could possibly welcome more investments like that from Sequoia Capital. Whilst running higher to the summit.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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