- Polygon (MATIC) is in the surge over a month’s time period.
- Top brands in various streams are building their web3 applications on Polygon.
Polygon Network’s native token MATIC is in the surge over a month’s time period. The token has witnessed seven continuous weekly green candle marches. This is the first of its kind for the token. The beginning of the year 2023 is good for many of the cryptocurrencies and one team is MATIC.
At the year’s start, MATIC was trading at $0.76, now the price of the token is $1.41. The market capitalization is above $12 billion and the 24 hrs trading volume equals $1.273 billion. The market captivation percentage of the token is 1.114%.
Building zero-knowledge Ethereum Virtual Machine (zkEVM) is in development on the Polygon chain. These zkEVM are expected to increase Ethereum scalability. This particular innovation is also bringing in various web2 giants to the Polygon L2 blockchain network.
Idea behind zkEVM is to inherit the security promise from the Ethereum L1 to Polygon L2 with a functional enhancement at a lower transaction cost. The testnet of the zkEVM is live and the Mainnet launch is expected by the first half of this year.
Polygon co-founders recently had a round table to discuss the advancement of the zkEVM.
Top commercial brands from various streams are building their web3 applications on the Polygon network. From the entertainment industry, Amazon and Disney are deploying real-time animes, NFT, and the metaverse. Beverage pioneers Coca-Cola, and Starbucks are making their way into the NFT marketplace via the MATIC blockchain.
Adidas, Meta, and Reddit are a few additions to the NFT list and Nike is raising a Web3 platform over ETH compatible platform. Mercedes is in the creation of a data-sharing system and Robinhood is the construction of a Web3 wallet.
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