Polygon’s zkEVM is undergoing an overhaul, but what does that mean for MATIC?

  • New updates regarding zkEVM have been released from Polygon.
  • Polygon’s NFT space also saw growth last week.

ribbed [MATIC] I recently revealed the latest developments regarding the much talked about zkEVM. According to the latest update, zkEVM has undergone a rigorous and comprehensive security audit.

Read polygons [MATIC] predict the price 2023-24

These are the new updates

This audit presents an interesting challenge because it aims to assess the security of a new type of technology, particularly one designed to reliably hide information.

official message stated, “This review aims to verify the claim that Polygon zkEVM can only generate valid state transitions and that it does so in a knowledge-free, non-interactive environment.”

The primary focus of audits will be to validate this claim in two sectors: accuracy and integrity. Jordi Bayelina, zkEVM Developer, chirp They are also in the final stages before launching what will be the last testnet before the mainnet.

Interestingly, MATIC also managed to remain quite popular in the crypto community as it was on the list of cryptocurrencies that were trending at Coingecko.

Although this development seemed optimistic matNothing was reflected in the price movement as it recorded negative growth. according to CoinMarketCapMATIC price is down more than 2% in the past 24 hours and at the time of writing it is trading at $0.8965 with a market capitalization of over $7.8 billion.

Any signs of recovery?

Surprisingly, despite the recent downside, some metrics in the series have been supportive mat And it gave investors a reason to relax.

Source: feeling

For example, positive sentiments regarding MATIC have increased in recent days, reflecting the crypto community’s confidence and belief in the token.

Polygon’s equipment reserve was too decrease, indicating less selling pressure. In fact, Polygon’s NFT space also saw growth last week. The total number of NFT deals and total USD NFT trading volume both recorded a peak, indicating high demand for MATIC’s NFT ecosystem.

Source: feeling

But the rest of the metrics were bearish, revealing the potential for further price declines. matThe MVRV ratio has continued to decline, which is a sign that is in line with interest from sellers. The number of active addresses and total transactions also decreased, painting a bearish picture for Polygon.

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