Polygon

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Polygon Labs has recently made a major announcement that is set to impact the Ethereum network’s future positively. The protocol has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and build. 
According to the announcement, to further support the protocol’s development, Polygon zkEVM is now completely open-source. With this launch, Polygon is allegedly helping to pave the way for the next chapter of Ethereum’s development and offering developers and users a new tool for building decentralized applications. 

What Are The Benefits Of Polygons’s New zkEVM?
The Polygon zkEVM is a zero-knowledge proof (ZPK) scaling solution developed by the same protocol, designed to enable faster and cheaper transactions on Ethereum’s network. The public testnets for zkEVM have established it as a leader among Ethereum Virtual Machine (EVM) equivalent ZK scaling solutions. 
One of the key benefits of zkEVM is its use of zero-knowledge proofs, which ensures security and reduces gas fees. Another win for users is that zero-knowledge proofs enable transaction verifications without revealing sensitive information, making them highly secure. 
Furthermore, Polygon’s zkEVM is designed to be fully compatible with the EVM, so developers can easily deploy existing Ethereum smart contracts on the network, facilitating developers to migrate their existing applications to zkEVM. 
Additionally, the zkEVM is designed to improve the scalability of Ethereum, allowing faster and more efficient transactions with lower fees for developers and users of the protocol’s new feature. 

Polygon Takes Precautions Against Potential Risks of zkEVM Mainnet Beta Launch
According to the announcement, the protocol refers to the risks of using zkEVM Mainnet Beta. While the launch of the mainnet is a significant development for the protocol, undetected bugs can always disrupt the network’s stability. 
To address these potential risks, Polygon Labs has outlined “stringent” security measures, which will include the establishment of a temporary security council, which will be responsible for overseeing the network’s security and addressing any issues-
The security council will comprise various companies and organizations in the blockchain industry. Moreover, Polygon will implement a bug bounty program, which is intended to incentivize researchers and developers to identify and report any bugs or vulnerabilities that they discover in the Polygon zkEVM Mainnet Beta. 
With the risks and potential vulnerabilities, the established bug bounty program will have rewards of up to $1,000,000 being offered for documenting critical vulnerabilities, according to the protocol. 
Despite the positive development of the new Polygon feature, the protocol’s native token, MATIC, has not responded positively to the announcement. Currently, MATIC is trading at $1.0462, indicating a decline of over 5% in the last 24 hours.
However, the launch of these new developments has been met with positive reception from the cryptocurrency community, which could have a positive impact on MATIC’s price in the long term.


Featured image from Unsplash, chart from TradingView.com 


Polygon Labs has recently made a major announcement that is set to impact the Ethereum network&#8217;s future positively. The protocol has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and bui...

bitcoinist.com

Polygon Launches zkEVM Mainnet Beta, Will It Reduce Costs Of Ethereum Transactions?

Ethereum (ETH) scaling solution Polygon (MATIC) has launched the mainnet beta of its highly-anticipated zkEVM with a high-prize bug bounty.
The zkEVM is a zero-knowledge rollup (ZK-rollups) scaling solution equivalent to the Ethereum Virtual Machine.

ZK-rollups aim to boost the throughput of the Ethereum blockchain by bringing computations and state storage to layer-2, allowing transactions to be made off-chain while only putting minimal data on the Ethereum mainnet.
Polygon’s zkEVM aims to easily let developers deploy smart contracts with higher finality and lower transaction costs. According to a new announcement from Polygon today, Polygon zkEVM is now live and open source.
“Today, Polygon Labs is pleased to announce that Polygon zkEVM has not only launched Mainnet Beta, but it is also fully open-source under an AGPL v3 license. 
This means Polygon zkEVM will not be proprietary and developers will have access to the repositories to modify, use, and distribute as they see fit. As a growing number of ZK-rollups are announced, the question of how to license ZK software, which Polygon Labs has addressed in the past, will only become more pressing.”
The announcement says that though Polygon’s new network has undergone two stringent audits recently, there is still the chance that the new mainnet could still have some undetected bugs in the code. To combat bugs, Polygon has posted a hefty bounty for bug finders.
“As discussed, Polygon zkEVM Mainnet Beta comes with the possibilities of bugs–so as the process of battle-testing the protocol in the real world unfolds, a bug bounty has been set, with as much as $1,000,000 for documenting critical vulnerabilities.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Jorm S
The post Polygon (MATIC) Launches New zkEVM Mainnet Beta With $1,000,000 Bug Bounty Program appeared first on The Daily Hodl.


Ethereum (ETH) scaling solution Polygon (MATIC) has launched the mainnet beta of its highly-anticipated zkEVM with a high-prize bug bounty. The zkEVM is a zero-knowledge rollup (ZK-rollups) scaling solution equivalent to the Ethereum Virtual Machine. ZK-rollups aim to boost the throughput of the ...

dailyhodl.com

Polygon (MATIC) Launches New zkEVM Mainnet Beta With $1,000,000 Bug Bounty Program

Xrp moved back towards a five-month high on Monday, as prices surged for a third straight session. The token formerly known as ripple was one of the very few gainers to start the week, as markets mostly consolidated. Polygon edged closer to a multi-week low to start the week.
XRP
XRP, formerly ripple, rose for a third consecutive session on Monday, as prices neared a five-month high.
Following a low of 0.4438 on Sunday, XRP/USD raced to an intraday high of $0.4877 earlier in today’s session.
As a result of the move, XRP moved closer to a recent high of $0.4940, which is the strongest point the token has hit since November 6.

Looking at the chart, this latest rally comes as the relative strength index (RSI) moved towards a ceiling at 70.00.
As of writing, the index is tracking at 66.91, and should it pass the 70.00 mark, then XRP will likely hit a fresh multi-month high.
A long-term ceiling at the $0.5000 mark could potentially be a target for current bulls in the market.

Polygon (MATIC)
Polygon (MATIC), moved lower to start the week, with the token falling towards a recent support point.
MATIC/USD fell to a bottom at $1.08, which comes a day after prices were trading at a high of $1.12.
Overall, polygon is now on the brink of colliding with the $1.05 floor, which was last hit on March 12.

From the chart, it looks like a downward cross has taken place between the 10-day (red), and 25-day (blue) moving averages.
In addition to this, the RSI is now tracking at 43.62, which is marginally above a resistance level of 43.00.
Should momentum continue to fall, there is a strong possibility that MATIC will move below $1.00.
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Do you expect polygon to move lower in upcoming days? Let us know your thoughts in the comments.



Xrp moved back towards a five-month high on Monday, as prices surged for a third straight session. The token formerly known as ripple was one of the very few gainers to start the week, as markets mostly consolidated. Polygon edged closer to a multi-week low to start the week. XRP XRP, formerly ri...

news.bitcoin.com

Biggest Movers: XRP Nears 5-Month High to Start the Week, Despite Crypto Market Consolidation

Investors with deep pockets gobbled up millions of Arbitrum (ARB) just a day after the Polygon (MATIC) competitor distributed tokens to eligible users.
Blockchain-monitoring service Lookonchain shares the top five whale transactions for Arbitrum in the past day to the tune of 13.31 million ARB worth $17.54 million.

Arbitrum is a blockchain scaling solution built on top of the Ethereum (ETH) network.
According to Lookonchain, one of the largest Arbitrum transactions in the last 24 hours involves a crypto whale trading 3,700 Ethereum worth $6.79 million for 4.94 million ARB.
According to the on-chain data-tracking service, the large entity purchased the large ARB stack at an average buying price of $1.38.
In the other four large transactions, Lookonchain says that crypto whales used stablecoins USD Coin (USDC) and Tether (USDT) to accumulate millions of ARB.
One whale purchased 2.74 million ARB with 3.52 million USDC at an average buying price of $1.28. According, to the blockchain-tracking service, the whale subsequently used the ARB trove to provide liquidity on decentralized exchange Uniswap (UNI) and generated $1.77 million in trading fees.
Another whale snapped up 2.61 million ARB using $3.56 million worth of USDC and USDT at an average entry price of $1.28.
A fourth crypto whale accumulated 1.53 million ARB with 1.95 million USDC at an average entry price of $1.28 as well.
The last whale bought 1.49 million ARB using 1.99 million USDC at an average buying price of $1.33.
The Arbitrum whale buying comes a day after the crypto project launched its much-anticipated airdrop on March 23rd. On the same day, blockchain explorer Arbiscan reported that daily transactions on Arbitrum skyrocketed to a fresh all-time high of 2,733,872.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/3000ad/Sensvector
The post Crypto Whales Pounce on Ethereum Scaling Altcoin, Accumulating 13,310,000 Arbitrum (ARB) After Polygon Rival’s Airdrop appeared first on The Daily Hodl.


Investors with deep pockets gobbled up millions of Arbitrum (ARB) just a day after the Polygon (MATIC) competitor distributed tokens to eligible users. Blockchain-monitoring service Lookonchain shares the top five whale transactions for Arbitrum in the past day to the tune of 13.31 million ARB wo...

Crypto Whales Pounce on Ethereum Scaling Altcoin, Accumulating 13,310,000 Arbitrum (ARB) After Polygon Rival’s Airdrop

Top US-based crypto exchange platform Coinbase is adding trading support for Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB), a chief competitor of Polygon (MATIC).
In a new announcement, Coinbase says that trading for Arbitrum is now available across both iOS and Android with an experimental label a week after it was added to the crypto exchange giant’s roadmap listing.

According to Coinbase, the experimental tag means that a digital asset is highly volatile and has a lower trading volume compared to other cryptocurrencies in the crypto exchange giant’s repertoire.
The announcement sent ARB soaring, as the crypto asset went from its 24-hour low of $1.26 all the way to a peak of $1.54, a 22.2% increase. ARB has since retraced and is trading for $1.37 at time of writing. However, ARB’s launch saw the asset see significant losses as it plummeted by over 70% since its debut.
Earlier this month, four prominent crypto exchange platforms announced that they would be adding support for Arbitrum, which at the time was about to have its first airdrop.
The exchange platforms – MEXC, Huobi, Bitrue, and Bybit – all said they would list ARB by March 23rd, according to previous reports.
Yesterday, the Arbitrum foundation went ahead with its scheduled airdrop and distributed 12.5% of its token supply to eligible users. According to blockchain explorer Arbiscan, the airdrop caused the number of daily transactions on Arbitrum to skyrocket from 1,218,525 to 2,733,872.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Warm_Tail
The post Trading for Polygon (MATIC) Rival Arbitrum (ARB) Goes Live on Top US Exchange Coinbase appeared first on The Daily Hodl.


Top US-based crypto exchange platform Coinbase is adding trading support for Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB), a chief competitor of Polygon (MATIC). In a new announcement, Coinbase says that trading for Arbitrum is now available across both iOS and Android with an experimen...

Polygon price	$1.05
Low - High 24H	$1.03 - $1.11
Market cap	$9.51B
Volume 24H	$509.10M
All time high	$2.92 -64.08% December 27th 2021
All time low	$0.003144 33223.01% May 10th 2019
Genesis date	N/A

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