Table Of Contents
01).About EVM and Polygon
02).Insight To Polygon zkEVM
03).PolygonzkEVM Introduction Merits
04).Other Crucial Uses Of Polygon zkEVM
05). Matic Market Interaction And Prospect
About EVM And Polygon
EVM is the kind of software that has been developed and set up to run on the Ethereum Network. The EVM is an abbrieviated kind of terms to that of Ethereum Virtual Machine.
More like Ethereum and Bitcoin , in which everyone do know that they are created to serve the need of money . In digital form and nature.
Polygon is the kind of platform in which those behinds the creation intended to bring about possible difference , into the world of blockchain technology. Polygon formally known as Matic is indeed core crypto currency technology that has been brought diverse solutions to the blockchain.
Upon all the solutions brings about by the polygon network to blockchain, remain that of POS. That being basically about an introduction of proof of stakes, and since polygon is being created on Ethereum network. And Ethereum has kind of layer one (L1) and layer two (L2) security base system among other known ones possibly.
The Polygon POS is mainly layer 2 proof of stakes , basically set up to reduce cost of transactions on the blockchain.
“What is Polygon?
Polygon is a layer 2 blockchain built on top of Ethereum blockchain. Also called as a side chain, Polygon’s technology primarily reduces the TPS and gas fee to help dApps scale faster without any downtime. MATIC is the native token of the blockchain and is used to carry out certain tasks on the blockchain.
Built by the stalwarts of blockchain technology, Polygon has come a long way to establish itself as a blockchain developer and user centric blockchain. Polygon has already signed some meaningful partnerships with top brands from around the world. Polygon is also commended for it being a scalable blockchain aiming to position itself as a multi-chain haven for different kinds of businesses that may have varying needs.”
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Polygon has touched a lots within cryptocurrency space and the world of blockchain technology.
Insight To PolygonzkEVM
Polygon-zkEVM : Due to various solutions and an improvement strides in which polygon do bring on board to the blockchain. Among others is the combination of zk and EVM , purposely to derived more scalable blockchain system and to become more compatible with the Ethereum blockchain network.
Polygon-zkEVM is actually a combination of zero knowledge proofs and Ethereum Virtual Machine.
As can get seen above I have been already made known ,an exact what EVM meant in full and represent.
Here I want to make plain more as about (zk ) being zero knowledge proofs , zero knowledge proofs introduction and integrations into the blockchain related transactions . Do make the blockchain transactions more scalable and secure.
“A zero-knowledge Ethereum Virtual Machine or commonly referred to as zkEVM, is a virtual machine which generates zero-knowledge proofs in order to verify the correctness of ....”
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The concept of zero knowledge proofs
The zero knowledge proofs is the kind of concept in which Polygon initiate , to enable fast and timely , safe an secure transactions on blockchain. That would seems more like a magic in the nature , in the sense that most transactions using zero knowledge proofs concept can get appear untraceable yet still very secure and scaling in forms.
For instance while being around with your friend , then you let him or her get understand that . You want that your friend to empty his or her pulse or wallet that , you can bring forth 💰 money out from the given empty pulse or wallet.
As your friend did obey and do just as you did instructed , then he or she get to have the money as you did said . Though that your friend might stand to have kind of slight doubt , but see that doesn't changes fact.
Polygon-zkEVM Introduction Merits
The following are the merits and an advantage for zero knowledge proofs and Ethereum Virtual Machine introduction :
✓ The zero knowledge proofs and Ethereum Virtual Machine do brings about fast finality to the blockchain compatible transactions
✓ The zero knowledge proofs and Ethereum Virtual Machine is the kind of leveling factor for polygon , as the zkEVM is an equivalent to Ethereum there by facilitating all an applicable transactions among others.
✓ The zero knowledge proofs and Ethereum Virtual Machine introduction do make the transaction fee and gas applicable fees to get reduce to closely zero.
✓ The zero knowledge proofs and Ethereum Virtual Machine do make the polygon blockchain network more safe and secure
Others Crucial Uses Of Polygon-zkEVM
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Polygon matic network due to how solutions oriented within the blockchain technology world , it get viewing to be and their very nature to constantly evolving diverse projects to enhance their peak operational nature perception. Has build so many software and applications for partners companies among others are the following :
Decentralized Finance DeFi
Polygon reasons of the diverse evolvement bringing into blockchain , has been able to create lending system of decentralize finance
Payment
Payment has been made possible via using blockchain technology network , here even Matic the polygon kind of token can be possibly use for payment purposes. Fast and low cost payment transaction have been quite possible, on polygon matic network.
Non Fungible Token NFT
Rewarding those related artist and ease fun on gamefi and games have been indeed very possible , reasons to polygon matic success on blockchain technology .
Matic Market Interaction And Prospect
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Polygon with own coin as was being initially known to be Matic. Now Matic crypto currency current price in coin market is around $0.92.
Here I would do have the market cite in my local currency .
“ NGN 1.00 NGN would allow you to trade for 0.0023 MATIC while NGN 50.00 NGN would convert to 0.1171 MATIC, not including platform or gas fees.
In the last 7 days, the exchange rate has increased by 6.3%. Meanwhile, in the last 24 hours, the rate has changed by 0.81%, which means that the the highest exchange rate of 1 MATIC to Nigerian Naira was 0.9335 NGN and the lowest 24 hour value was 1 MATIC for 0.9121 NGN. This time last month, the value of 1 MATIC was NGN 457.69 NGN, which is a 6.74% increase from where it is now. Looking back a year, Polygon has changed by -NGN 155.94 NGN. .”
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More like Bitcoin and other altcoin that , was reasons for their bull market get make lots of wealth . Indeed many crypto currency lover , enthusiast who have been eyes on Matic truly hope to get huge success in wealth . Through surging and climbing to the moon by Matic polygon crypto currency. In terms of market values.