Mihailo Bjelic, co-founder of Polygon (MATIC), praised the leading altcoin Ethereum in an interview. He said that with a new scaling solution, Ethereum will surpass even Visa. Meanwhile, Polygon comes to the fore with exciting new partnerships. Here are the details…
Polygon founder talks about new scaling solution for Ethereum
Polygon co-founder Mihailo Bjelic said in a recent interview that zkEVM Rollups, a new scaling solution for Ethereum, will allow the smart contract protocol to surpass Visa in terms of transaction volume. This zkEVM scaling solution aims to reduce Ethereum’s transaction costs and increase its throughput. The platform recently claimed to be the first to implement the zkEVM scaling solution. This layer-2 protocol can aggregate several transactions and then transfer them to the Ethereum network as a single transaction.
According to Bjelic, the solution represents the “holy grail” of Web3, as it offers security, scalability and compatibility with Ethereum. This means developers won’t have to learn a new programming language to work with it. “When you launch a scaling solution, you ideally want to preserve that developer experience. Otherwise, there will be too much friction,” he says.
Ethereum fees will decrease by 90 percent
According to Polygon co-founder Sandeep Nailwal, this solution will cut Ethereum fees by 90 percent. It will also increase the trading volume to 40-50 transactions per second. As Bjelic points out, ZkEVM Rollups if upgraded provides the possibility to perform even thousands of operations per second a day. Thus, the ETH network surpasses the main payment systems such as Visa. Currently, Ethereum transactions are around 8 gwei, according to Etherscan data.
MATIC came to the fore with great partnership
Meanwhile, there were exciting developments in Polygon’s ecosystem, as we reported on Cryptokoin.com. Daimler South East Asia, part of the Mercedes-Benz Group, will benefit from Polygon to launch its product. Announced a data sharing network based on Blockchain technology with Polygon. A new data sharing platform called Acentrink will allow businesses to buy, sell and trade data in a decentralized environment.
The new platform comes from the partnership between Daimler South East Asia and Polygon. It will also allow users to swap different data, including insurance information, clinical trials, and more. With features like “Know Your Business” and other comprehensive access controls, Acentrik is built for users at work from the start. This is most likely not the first Blockchain-based data sharing program to use Blockchain technology. On the other hand, NFTs are used to represent each dataset instead of data recorded on the Blockchain.
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