Ethereum

Vision

Polygon

Cosmos

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/new-polygon-product-transforms-evms-into-ethereum-layer-2-networks" rel="noopener noreferrer nofollow">New Polygon Product Transforms EVMs into Ethereum Layer 2 Networks</a><br></p>
<p style="text-align: justify">Polygon’s development team has revealed a groundbreaking product that enables any Ethereum Virtual Machine (EVM) compatible network to transition into a second layer (L2) network for Ethereum, leveraging zero-knowledge proofs. Despite this advancement, the value of Polygon’s native token, MATIC, remained stagnant, hovering around $0.83, indicating that the market has yet to react to this technological leap.</p>
<h2 id="introducing-agglayer-compatibility">Introducing AggLayer Compatibility</h2>
<p style="text-align: justify">This innovation announced on Polygon’s platform will let any EVM network adopt the ZK Layer 2 model and integrate with Polygon’s AggLayer. This promises a significant cut in transaction costs, potentially reaching as little as a few thousandths of a dollar per transaction. Moreover, Polygon aims to achieve a 30 to 50 times reduction in cost next year, facilitated by advancements in Plonky3 and zkEVM technologies. Such improvements are set to decrease latency and bolster user experience across both Type 1 and Type 2 of all Polygon CDK chains.</p>
<h2 id="vitalik-buterin-s-vision-aligns-with-polygon-s-direction">Vitalik Buterin’s Vision Aligns with Polygon’s Direction</h2>
<p style="text-align: justify">Ethereum co-founder Vitalik Buterin has long championed the concept of second-layer networks operating on par with the main Ethereum network. Polygon’s latest product aligns with this vision by simplifying the implementation of zero-knowledge proofs. The goal is to enable easier communication and interoperability across multiple chains, a concept also pursued by networks like Cosmos within their respective ecosystems.</p>
<p style="text-align: justify">Polygon’s strategy is expected to contribute to the long-term value of MATIC Coin by connecting to the recently launched Aggregation layer, thus granting access to the entire liquidity and value within the Ethereum ecosystem. Brendan Farmer, Polygon’s co-founder, emphasized the potency of their Type 1 verifier in upgrading any chain to a zkEVM L2, enhancing <a href="https://en.bitcoinhaber.net/ethereums-rocket-pool-targeted-in-phishing-attack" rel="noopener noreferrer nofollow">security</a> and integration with Ethereum and Polygon’s ecosystem at an unexpectedly low cost.</p>
<p style="text-align: justify">The announcement may position Polygon at the forefront of L2 scaling solutions, potentially heralding increased adoption and growth for its network and token in the future.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/new-polygon-product-transforms-evms-into-ethereum-layer-2-networks" rel="noopener noreferrer nofollow">New Polygon Product Transforms EVMs into Ethereum Layer 2 Networks</a></h5>

New Polygon Product Transforms EVMs into Ethereum Layer 2 Networks

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