Altcoins, Cryptocurrency, Ethereum (ETH), News, Price Analysis

Polygon (MATIC): Next Breakout Highly Dependent on This Factor

Polygon has remained committed to improving infrastructure on the platform lately. It introduced the Midem VM version 0.2 update on August 24. The upgrade brings lots of new features and a complete architectural renovation.

Moreover, the upgrade is Turing and boasts a read-wire RAM (random access memory). That means users can execute any program with the Miden VM. Nevertheless, it remains a progressing work, with Polygon planning functionalities for the release. The new features include:

  • Function calls with separated memory space.
  • Customizable VM Kernels.
  • Effective ways to support massive public outputs/inputs count.

Recently, Polygon rolled out the highly-anticipated zkEVM. That is the first EVM-attuned zk layer2. Polygon stated that the upgrade inherits Ethereum’s security while amplifying throughput and reducing fees.

The Journey Continues

The network has attracted attention within the cryptocurrency community while awaiting the September ETH Merge. Polygon has published a blog to publicize the issue. Meanwhile, the anticipated Merge would make ETH more environ-friendly but does not increase transaction speed or lower gas charges.

Meantime, Polygon capitalizes on Ether’s security, whereas ETH benefits from MATIC’s scaling solutions, like the zkEVM. Meanwhile, Ethereum will support more future upgrades with the Merge, enabling the second-largest blockchain to scale and grow.

The growth will translate to increased utility in Polygon. The blog highlighted that each improvement on ETH magnifies Polygon’s power. Moreover, Polygon updated the network activity within the last 24 hours.

While writing these lines, QuickSwap decentralized exchange was the most utilized Dapp on the Polygon network, with more than 20.3K users within the previous 24 hours. Overall, Polygon witnessed more than 2.9M network transactions by more than 306K investors since August 23.

MATIC Amid All This

A late respite on August 24 erased MATIC’s daily losses (Coinmarketcap data). While publishing this news, the alternative token changed hands at $0.81. However, it remained 2-digit low as most cryptocurrency assets suffered declines. A successful Merge upgrade will support MATIC’s breakout in the upcoming months.

The crypto market saw brief upticks overnight, with most assets hovering with slight 24Hr gains. The global crypto market capitalization confirms this with a 1.32% increase to $1.04 trillion. However, upcoming sessions will clarify the next price moves.

Editorial credit: Dennis Diatel / shutterstock.com

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