Amid record spike in polygon fee (MATIC), platform nears release of its scalability solution
Polygon (MATIC), a well-known smart contracts platform compatible with Ethereum Virtual Machine, unveils the date of its most crucial upgrade of 2022.
ZK-EVM Hermez is approaching the exit of the main network: save the date
According to the announcement shared by Sanket Shah, Chief Strategy Officer at Polygon (MATIC), the product is in the process of undergoing a major update.
Polygon Hermez is going to see its mainnet version rolled out as soon as Q2, 2022. Its first mainnet version will only be suitable for value transfer and will not be EVM-compatible.
One hundred percent EVM compatibility will be added to Polygon’s Hermez in v2.
ConsenSys investor and Polygon growth advisor John Lilic stresses the importance of the upcoming release for Ethereum’s scaling ecosystem:
The race to scale #Ethereum goes up a notch @ 0xPolygon $ matic
No more exorbitant fees?
Polygon Hermez is an open-source ZK-Rollup and advanced scalability instrument for Ethereum and Ethereum-like networks. It was acquired by Polygon in 2021.
As covered by U.Today previously, for the first time in its history, the Polygon Network (MATIC) suffered from a rapid increase in transaction fees.
Polygon fees skyrocketed due to the increased activity of Sunflower Farmers, a play-to-earn ecosystem based on Polygon. With Hermez launched in mainnet, Polygon’s fee mechanisms will be more resource-efficient.
