Dear Polygon (MATIC) Crypto fans, mark your calendars for March 27th
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It has been another relatively strong day in the crypto world almost across the board. But some projects surpass others, and Polygon (MATIC-USD) is one such crypto investors are keeping an eye on today. At the time of writing, MATIC crypto has risen by nearly 4% over the past 24 hours, beating the gains seen by the overall crypto market.
This increase appears to be linked to news that the beta of the network’s zkEVM mainnet will go live on March 27th. This launch, which will bring zero-knowledge scaling to Polygon’s Ethereum Virtual Machine (EVM), is a big deal. That’s because Polygon’s EVM is where all smart contracts live. For any kind of development at Polygon, EVM will play a key role. And the introduction of zero-knowledge conversations could certainly change the game.
Let’s dive into what zero-knowledge calls are and why this all matters to investors.
MATIC Crypto is moving ahead of its key launch date
Zero-knowledge hashing is generally seen as one of the most important breakthroughs necessary for crypto to get to the next level. Scalability, or the ability for networks to process more transactions faster and at a lower cost, is the silver bullet everyone is looking for. Zero-knowledge conversations must be the means to achieve this.
Essentially, zero-knowledge digests aggregate transactions together, using evidence to ensure the privacy of user data while ensuring that the transactions are genuine. It is a highly technical process that involves quite complex mathematics. But the idea is to be able to confirm a transaction and the parties involved in the transaction while knowing as little about the transaction parties as possible.
As key upgrades go in the crypto world, this is a big one. I’ll certainly be keeping an eye on how this rollout goes, and I’m sure Polygon investors will too. Accordingly, I expect some volatility between now and the upgrade date as investors price in the likelihood of success for this major improvement.
As of the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publishing Guidelines.
