Polygon (MATIC) zkEVM, a scaling solution for Ethereum, has reached an important milestone with its first major upgrade called the Dragonfruit Upgrade.
This upgrade is a significant advancement for Polygon zkEVM, which launched on the mainnet beta in March 2023.”
Polygon zkEVM Enhances with Key Improvements
“Polygon zkEVM is like a supercharged version of Ethereum that works with existing tools and contracts. This means everything can keep running smoothly without causing problems.
Developers can use the cool feature of zkEVM called ‘zero-knowledge proofs’ to make transactions cheaper and faster while keeping everything safe, just like on regular Ethereum.
The upgrade to the Polygon zkEVM main network, which includes bridge operations, is a big deal, as announced on September 20.”
Dragonfruit Upgrade: successful
Polygon zkEVM Mainnet Beta upgrade + bridge operations have completed successfully. System resumes full activity.
Devs, the list of EVM networks that support PUSH0 opcode:
1) Ethereum
2) Polygon zkEVM Mainnet Beta https://t.co/YEjDhHDD6w— Polygon Foundation (@0xPolygonFdn) September 20, 2023
After the upgrade, the system is back to normal, offering users more features and better performance.
One important thing to note is that Polygon zkEVM Mainnet Beta now supports the PUSH0 opcode, which is a technical detail that makes it even more compatible with Ethereum.
By being on the list with Ethereum, it shows that Polygon zkEVM can work with other Ethereum-based networks and gives developers more choices.
This upgrade is a big step forward for zero-knowledge scaling solutions. It brings together the advantages of zero-knowledge proofs, cheaper transactions, faster processing, and Ethereum’s strong security.
Polygon zkEVM is now even more reliable and capable, making it a key player in the Ethereum world. Developers and users can use it to build and use decentralized apps more efficiently and cost-effectively.”
MATIC Posts Modest Gains with Strong Seven-Day Performance
Even though Polygon (MATIC) has been making progress in its ecosystem, its native token MATIC has been stuck in a narrow range for the past two days. It hasn’t been able to break through higher price levels.
Right now, the token’s price is moving between $0.536 and $0.5472, and it’s currently trading at $0.5426. It has stayed pretty steady for more than a day, with a small increase of 0.5% during this time.
MATIC’s sideways price action on the daily chart over the past 24 hours. Source: MATICUSDT on TradingView.com
Over the past week, MATIC has made significant gains, going up by 5.9%. This helped the token get back above the $0.500 mark after it dropped to $0.419 on September 11, which was the lowest point for MATIC this year due to a general market decline.
MATIC is facing challenges because it’s having trouble getting past two important levels, namely $0.5587 and $0.5930. These levels are like walls that are making it harder for the token to go up. MATIC needs to overcome these challenges in the near future if it wants to reach $0.600 again.
On the flip side, there’s a concern that MATIC only has support at a low point of $0.4614 that it hit about a year ago. To avoid a big drop to new lows, the buyers need to make sure the price doesn’t go below this level.
However, there’s also hope that MATIC could start doing better if the overall market becomes more favorable for alternative cryptocurrencies. In that case, it might go up in price.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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