The cryptocurrency landscape is witnessing significant development as Polygon zkEVM progresses into the next phase of its evolution, marking a pivotal moment in the expansion of DApp and DeFi activity. The revelation was made by Polygon Labs DeFi leader Jack Melnick on January 6th, when he referred to the event as the start of the “DeFi season”.
This step is crucial as the Polygon Labs team has spent the last ten months perfecting the security, scalability, and infrastructure of Polygon zkEVM’s innovative technology.
Polygon zkEVM Stage 2 Beta, announced in a post on January 11, is a critical phase for the project. This step is expected to significantly boost the growth of DApps and DeFi activities on the network. Over the next two months, it is anticipated that approximately 30 to 50 projects will be integrated and the community will be educated on these protocols.
We launched Polygon zkEVM as the first full-featured, open source zkEVM ever made available. With that launch comes responsibility, including high levels of security and uptime. Thus, the last 10 months have been stage 1 of the Polygon zkEVM Mainnet Beta, focused on testing,… pic.twitter.com/5TjmqaR2dd
— Polygon (Labs) (@0xPolygonLabs) January 11, 2024
Polygon Labs, in addition to focusing on DeFi activity, plans to increase network throughput with a Stage 2 client upgrade, bringing forward Stage 3 in March 2024.
The role of Polygon zkEVM in the Polygon multichain ecosystem is vitally important. With the transition of the Polygon PoS chain to a validium zkEVM chain, developers are preparing the Polygon zkEVM chain to become the hub of DeFi in the anticipated Polygon network of ZK Layer 2 chains. DeFi enhanced security guarantees.
On the other hand, validium will act as a basis for payment and gaming applications, offering faster and more economical transactions, but with somewhat reduced security guarantees.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.