Despite the overall market correction affecting most coins, Polygon’s MATIC doesn’t seem bothered by that – in fact, it grew by 12% and reached a new ATH of $2.54.
This is an indication of the fact that the Ethereum Layer-2 scaling solution is now enjoying more acceptance. For example, across the previous seven days, the price of MATIC increased by 25%, avoiding the overall correction of the market.
This December, Polygon bought crypto startup Mir as a way of implementing zk-rollups technology at their end. The company will help Polygon in implementing this technology and creating Polygon Zero, a highly-scalable, Ethereum-compatible ZK Rollup.
Polygon stated:
“ZK scaling represents the future of Ethereum, but scalable, EVM-compatible ZK Rollups don’t exist yet. The missing piece is efficient recursive proofs, as recursion allows us to parallelize proof generation for much better performance. Unfortunately, the existing recursive proof systems supported by Ethereum are inefficient and slow.”
Furthermore, Polygon announced it is working with Alexis Ohanian, the co-founder of Reddit, on a Web 3 initiative.
Ohanian declared that this collaboration will help “what the new internet looks like. We are still in the early days of Web3 and the most obvious opportunities right now are in gaming and social. This initiative will do just that, with a focus on gaming properties and social media platforms built on Polygon’s scalable infrastructure.”