Accordint to a report released by Messari, Polygon ($MATIC), a suite of Ethereum-based scaling solutions, unveiled key insights and recent developments in its ecosystem for the second quarter of 2023. Among the key highlights, Polygon Labs introduced Polygon 2.0, a network of zero-knowledge Layer-2 blockchains. This new development aims to become the “Value Layer of the Internet,” bringing significant updates to protocol architecture, tokenomics, and governance.
The Polygon zkEVM, a Zero-Knowledge (ZK) Layer-2 rollup protocol for Ethereum, showed steady growth, achieving 200,000 unique addresses by the end of Q2. This notable achievement was marked by collaborations and integrations with various industry players. An important aspect of the report was MATIC’s inclusion in the SEC’s complaints against Binance and Coinbase. However, the document emphasizes that Polygon’s network fundamentals were unaffected by this news.
Further, the report indicates that Polygon has expanded its partnerships with prominent legacy companies and institutions such as Franklin Templeton, Securitize, Mastercard, and Warner Music Group. These new additions join existing partners including Adobe, Adidas, Disney, Meta, Nike, Reddit, Robinhood, and Starbucks.
Other exciting developments include the launch of the Polygon zkEVM Mainnet Beta on March 27, 2023, aimed at enabling secure, quick, and cheap transactions. Additionally, the report provides insights into Polygon Miden, an upcoming ZK Layer-2 rollup protocol designed for Ethereum, utilizing the Miden Virtual Machine (MVM) written in Rust. An app-chain-focused scaling solution for Polygon PoS, known as Polygon Supernets, is currently in testnet. Finally, Polygon ID, a privacy-preserving identification service for Web3 users, uses ZK-proofs to verify user credentials privately.
Polygon’s Q2 report underscores the platform’s ongoing commitment to innovation, collaboration, and growth. These initiatives place Polygon at the forefront of the blockchain industry, reinforcing its position as a leading provider of Ethereum-based scaling solutions. Image source: Shutterstock
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