Polygon Labs, the team behind the popular Polygon network, has announced that its zkEVM technology has been launched on Mainnet Beta and is now fully open-source under an AGPL v3 license. The company believes that open-sourcing Polygon zkEVM is essential for scaling Ethereum in a community-driven by the open-source movement.

Polygon zkEVM is a ZK-rollup that has revolutionized proof generation with its innovative, modular design for a ZK-prover. The technology can now be modified, used, and distributed by developers under the terms of the AGPL v3 license. Polygon Labs chose this license as the most appropriate for technology designed to scale the public good of Ethereum.

@azcoinnews

As a robust copyleft license, the AGPL v3 obligates developers who modify or distribute the Polygon zkEVM code to make their modifications open-source under the same AGPL v3 license or a more permissive one. This means that all future modifications and distributions of the code will remain open source, ensuring the code cannot be used for proprietary purposes.

Polygon zkEVM was audited by the best-in-class teams at Hexens, Spearbit, and internally by Polygon Labs before the launch of Mainnet Beta. The finalized audit reports are being made available for the public, and any Web3 team, to read. Still, there is always the possibility of undetected bugs that may disrupt network stability, put crypto-assets at risk, or cause users to lose data. Polygon Labs has outlined stringent security measures, including the temporary security council, to help ensure the safety of everyone using the Polygon zkEVM Mainnet Beta.

As Polygon zkEVM is battle-tested in the real world, a bug bounty of up to $1,000,000 has been set for documenting critical vulnerabilities. Open-sourcing the code will allow other researchers to follow along and modify code, in real time, as Polygon zkEVM becomes feature-complete and works to decentralize the sequencer in the future.

Polygon zkEVM is now available for anyone to use, under the terms of the AGPL v3 license. Developers can take a look through Polygon zkEVM’s Github and use it as they see fit. With this move, Polygon Labs has fulfilled its long-standing promise to the Ethereum community, and the Web3 ecosystem can benefit from each other’s contributions.

#Polygon #Matic #zkEVM #PolygonLabs #azcoinnews

This article was republished from azcoinnews.com

Polygon price went sideways after a first gut punch from bears eating away at the price action.

MATIC shows cracks in its support as selling pressure continues to build further.

Expect to see a quick nosedive move that might start to challenge $0.80.

Polygon (MATIC) price got slaughtered on Monday as pivotal support at $0.96 was completely torn down by bears and saw them running price action substantially lower. In the ASIA PAC session on Tuesday, some support came, and we started to see a mild recovery. With the US trading session picking up steam, more selling pressure should arrive.. It is a matter of time before MATIC drops another leg lower to $0.82 or below even.

MATIC to shed another 10% under selling pressure

#PolygonLabs price action results from a pre-announced sell-off that was primed to happen soon. Signs on the wall have been there since the end of April and are clearly visible on the chart. Experienced technical traders will have spotted that after the failed attempt to reach $1.064 on April 26, peaks have been coming in lower, confirming the heavy selling, which is now playing its end game.

#MATIC saw a few brave bulls buying the dip at $0.88, though that might have been a bit too early. With global markets now rolling over as well, expect some more headwinds to persist at least on Tuesday and possibly on Wednesday with sticky selling pressure at hand. Rather look for MATIC near $0.82 or even $0.79 for ample support to see new buying that halts the sell-off with a turnaround.

With price action flirting with $0.90 and the Relative Strength Index (RSI) already beyond the oversold barrier, selling pressure could start to wane quite quickly. This would open the room for more recovery with some small gains at hand. Certainly, $0.94 looks to be a promising level that bears  at least a 5% gain in a small recovery.

Polygon Labs on August 29, 2023 introduced its Polygon Chain Development Kit (CDK), an open, modular code base that can be used to launch L2 chains backed by Polygon's ZK technology anywhere in the world.

The CDK is the evolution of Supernets, which gave projects the ability to operate sidechain-like application chain protocols. The CDK takes Supernet design to a new level, enabling easy deployment of interoperable, ZK-powered L2s.

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Mirae Asset Securities, a South Korean company, has formed a partnership with Polygon Labs to advance tokenized securities networks.

Under this partnership, Polygon Labs will serve as a consultant for Mirae Asset Securities’ Security Token Working Group. Together, the two companies will collaborate on building the infrastructure for platforms that tokenize assets. Their primary goal is to become global leaders in asset tokenization.

Polygon, previously known as Matic Network, was founded in 2017 to address scalability issues on the Ethereum network. However, in 2021, it rebranded as Polygon with a broader mission of supporting the creation and connection of Ethereum-compatible blockchains.

Polygon’s main objective is to reduce transaction fees and increase transaction speed on the Ethereum network through a layer-2 scaling solution, making decentralized applications (dApps) more user-friendly and efficient.

What is asset tokenization?

Asset tokenization is the process of converting real-world assets, such as real estate, stocks, or commodities, into digital tokens on a blockchain. These tokens represent ownership or a share in the underlying asset.

Asset tokenization offers several benefits, including increased liquidity, fractional ownership, and accessibility to a wider range of investors, as well as easier and more efficient trading and transfer of assets. It can democratize access to traditionally illiquid and high-value assets, making them more accessible to a broader range of investors.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #CryptoNews #cryptomarket #PolygonLabs #MATIC

Polygon Labs, the leading development team behind the Polygon network, has taken significant steps to increase excitement for the transition to Polygon 2.0. The next-generation Polygon network aims to move towards zero-knowledge proof-supported blockchains, providing the Polygon ecosystem with unlimited scalability and liquidity. This major change has generated immense excitement within the Polygon community, leading Polygon Labs to launch a special commemorative initiative to celebrate and support the vision of Polygon 2.0.

Polygon 2.0 Commemorative Open Edition NFT Launch:

In a final effort to celebrate the vision of Polygon 2.0, the company has launched an exclusive collection of Non-Fungible Tokens (NFTs) that cannot be reproduced. This NFT collection gained significant interest, and on Wednesday, July 19th, Polygon Labs announced the "commemorative open edition NFTs" in collaboration with Suku. These NFTs were distributed for free and could be minted by users for a limited time of 48 hours. To mint the NFT, users simply needed to tweet "Minting my @0xPolygon Open Edition NFT with @sukuthis!" #PolygonLabs

Intense Interest and Success:

The Polygon 2.0 Commemorative Open Edition NFT collection was met with great enthusiasm from the community. The launch achieved success and popularity, with Polygon Labs and Suku highlighting the NFTs' widespread appeal. The NFTs quickly became a trend on the popular NFT marketplace, OpenSea, with thousands of users successfully obtaining 48,200 Polygon 2.0 Commemorative Open Edition NFTs before the minting period expired. This impressive number serves as an indicator of how popular the vision and development team of Polygon 2.0 are among investors and users alike.

Vision of Polygon 2.0:

Polygon 2.0 represents the transition of the Polygon network to zero-knowledge proof-supported blockchains. This transition aims to eliminate the scalability and efficiency limits of the network, providing the Polygon ecosystem with new opportunities. The goals of Polygon 2.0 include enhancing liquidity unity, accelerating transaction processes, and offering users a better overall experience. This change will strengthen Polygon's position in the blockchain industry and enable it to reach a wider user base. #NFTS

In Summary:

The collaboration between Polygon Labs and Suku has proven to be a successful initiative to celebrate the transition to Polygon 2.0 and support the community's excitement. The overwhelming interest in Polygon 2.0 Commemorative Open Edition NFTs demonstrates strong support and enthusiasm for the development of the Polygon network. The transition of Polygon 2.0 to zero-knowledge proof-supported blockchains marks a significant step forward in terms of scalability and liquidity unity for the network. The Polygon community eagerly awaits the future advancements of an even more developed network following this exciting transformation. $MATIC #MATIC #POLYGON #polygon2.0

The integration of Celestia's data availability (DA) layer with #PolygonLabs Layer 2 chain development kit marks a significant development in the future of blockchain technology. This integration provides specialized solutions for projects like OKX, Immutable, Astar, IDEX, and Palm Network, while also being a crucial part of the Polygon 2.0 ecosystem.Polygon’s Chain Development Kit (CDK) is used for developing Layer 2 networks, which rely on “zero-knowledge rollup” technology to enhance transaction efficiency. However, there are challenges in verifying data availability on Ethereum. This is where Celestia's approach comes into play.Celestia aims to reduce the network load and potentially lower gas fees by running light nodes for multiple Layer 2 networks. This can increase the efficiency of the network, making transactions faster and more economical, representing a significant step in blockchain technology.With this integration, Polygon’s Layer 2 solutions could reach a broader user base and increase the overall adoption of blockchain technology. Particularly, its potential to alleviate Ethereum's current challenges and create a more efficient blockchain environment makes this integration exciting for the crypto and blockchain community.The collaboration between Celestia and Polygon could usher in a new era in blockchain technology development and accelerate innovations in the sector. This holds significance not only for current projects but also opens up possibilities for future blockchain applications.#celestia #tia $TIA $MATIC

🌐🚀 All Eyes on Polygon: The Complete Jan 28 Crypto Lineup 🚀🌐
Crypto Enthusiasts! Gear up for the most comprehensive look at Polygon's market movers this Jan 28. From high flyers like Metaverse Index to the steady growth of matic-aave-usdc, we've got the full picture. Check out who's who in Polygon's vibrant crypto landscape!

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Chain Name Coin Code Price 24h Change
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polygon metaverse-index MVI $27.41 +1.97%
polygon auto AUTO $21.23 +2.33%
polygon cream CREAM $16.07 +1.89%
polygon verox VRX $15.94 +4.81%
polygon chainlink LINK $14.52 +2.79%
polygon aave-v3-link ALINK $14.48 +2.20%
polygon vicicoin VCNT $12.09 +1.63%
polygon arch-ethereum-div-yield AEDY $12.02 +1.13%
polygon obyte GBYTE $11.91 +2.01%
polygon rain-coin RAIN $7.23 +2.59%
polygon mt-pelerin-shares MPS $6.49 +1.74%
polygon must MUST $6.21 +2.63%
polygon uniswap UNI $6.01 +2.09%
polygon unifi-protocol-dao UNFI $5.96 +2.14%
polygon vulcan-forged PYR $5.86 +1.23%
polygon gains-network GNS $4.71 +2.24%
polygon index-cooperative INDEX $4.10 +2.87%
polygon aave-v3-bal ABAL $3.71 +2.43%
polygon dubbz DUBBZ $3.56 +1.71%
polygon 5mc 5MC $3.53 +1.69%
polygon badger BADGER $3.34 +3.55%
polygon synthetix-network-token SNX $3.27 +1.89%
polygon barnbridge BOND $3.23 +1.16%
polygon lido-dao LDO $3.10 +3.09%
polygon minato MNTO $2.92 +1.14%
polygon decentralized-universal-basic-income DUBI $2.41 +1.22%
polygon ethernity-chain ERN $1.92 +2.17%
polygon band-protocol BAND $1.71 +3.80%
polygon ichi ICHI $1.69 +2.86%
polygon apecoin APE $1.44 +1.37%
polygon purpose PRPS $1.33 +3.41%
polygon polyyield-token YIELD $1.26 +3.20%
polygon metavault-trade MVX $1.18 +1.44%
polygon sushi SUSHI $1.11 +1.84%
polygon matic-aave-usdc MAUSDC $1.03 +2.33%

🔥 Dive into the diversity of Polygon's crypto market! Each coin here tells a story of growth, potential, and opportunity.
#MATIC #polygon #ALT #PolygonLabs
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