The Polygon co-founder proposed zkEVM valium upgrade, to introduce more enhanced security in the blockchain network of Polygon.
Polygon is a popular Proof-of-stake (PoS) blockchain network, launched in 2017. This crypto blockchain network was founded by Jayanti Kanani, Sandeep Narwal, Anurag Arjun, and Mihailo Bjelic. The main focus of this crypto project team is to provide scalability to the Ethereum blockchain network & also push the innovation of web3.0 blockchain developments in the digital world.
On 20 June 2023, Polygon co-founder Mihailo Bjelic proposed a new network upgrade “zkEVM valium” for this Ethereum scaling network and confirmed that the Polygon network on the new version will be more secure and also will be able to fight against high gas fees via the new scaling rollups.
The Polygon mainnet blockchain will go through this upgrade in the final phase somewhere between Feb to Mar of the next year.
Polygon & India
In the present time, crypto companies are operating their businesses under the existing traditional financial rules in India. In short, we can say trading cryptocurrencies is not legal, also not illegal in this country.
Despite such regulatory hurdles in India, the Polygon team is continuously focussing to expand the reach of the Polygon blockchain technology use case at the government level.
Some Indian government agencies use the Polygon blockchain network. In Q3 2022, Indian State Uttar Pradesh’s Firozabad district police announced the use of Polygon blockchain for police complaints.
Also in Maharashtra, a government agency tested the issuance of certificates on the Polygon network.
Matic price action
Matic is a native coin of the Polygon blockchain network. The current trade price of the Matic coin is $0.64 & this trade price is 5.58% high over the last 24 hours’ trade price.
Read also: XRP army bullish following the announcement of IMF’s CBDC platform
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