Ethereum scaling solution using Layer 2 The zkEVM chain of Polygon has announced that its first significant update will be taking place on the mainnet. The upgrade is planned on Wednesday, September 6, by 11:00 a.m. UTC, according to the information issued on its official X account.
Users are likely to face various kind of network difficulties during this time, as Polygon disclosed that the upgrade will last for around an hour. The notice is helpful since it gives everyone plenty of time to take precautions against any kind of transaction irregularities.
The most recent versions of the Node and Prover components will be welcomed by the upgrade, which Polygon highlighted as being significant. As previously mentioned, the Node component is intended to contribute to improved stability and performance, while the Prover component will support the protocol’s overall functioning.
One of the key characteristics that makes it possible to adopt new technical advances is how simple it is to upgrade blockchain protocols. This upgradability potential is crucial in the fast-paced competition in the Layer 2 protocols on Ethereum to help secure its position as the go-to scaling solution in today’s decentralised finance (DeFi) market.
Potential Impact on MATIC
The period before a protocol update is typically marked by a great deal of scepticism since inventors are unsure whether or not the modifications made will hurt the protocol in the short run. Shibarium, whose original debut was hampered by congestion and then suspended in an effort to focus on thorough scalability, mirrored this sentiment.
It is clear that investors are upbeat about the future of the Polygon zkEVM chain because Polygon’s MATIC is trading at $0.5593, up 3.23%. There are precedents with noteworthy transaction milestones, and a significant supplement from this upgrade might assist propel the token to new highs.
