Polygon Has Huge News to Reveal on December 9

by in Cryptocurrency News

Polygon MATIC announcement

Ethereum scaling solution Polygon will hold a discussion on Zero-Knowledge rollups on Dec. 9, which the platform refers to as the ZK day.

Related: Mark Cuban Invests in the Crypto Platform Polygon

Polygon revealed the news via Twitter on Dec. 2. Ethereum creator Vitalik Buterin will participate in the event. Also, on that day, the company will reveal a major announcement. Polygon sees ZK cryptography as the most promising Ethereum scaling solution.

Zero-knowledge rollups, otherwise known as zk-rollups aim to boost Ethereum transaction speed at the same time reducing costs of operations. ZK rollups achieve this due to Layer 2 technology.

While the crypto community is trying to guess what news Polygon will unveil on Dec. 9, the number of registered members for the summit has almost reached 6000. According to analytics platform DeFi Llama, the total value locked in Polygon stands at above $5.17 billion and the network ranks 7th by this mark. The number of protocols operating on Polygon now is 128.

The native crypto of the Polygon blockchain protocol, MATIC is the 21st largest crypto with over $18.1 bln market capitalization. Currently, the token trades at around $2.55. It reached its all-time high of $2.68 on May 18, 2021. In the last 7 days, the MATIC price grew by over 22% even when cryptocurrencies mainly saw a drop.