It’s no secret that Ethereum is plagued by scalability and speed issues. The second-largest cryptocurrency by market cap can only handle 10 transactions per second on average. During periods of high congestion, transaction fees can escalate into hundreds of dollars. This is negatively affecting the vibrant dApps ecosystem of the platform. Numerous scaling solutions have been deployed previously as solutions to the Ethereum problem. Now, Polygon (MATIC), an Ethereum scaling solution, is deploying zkEVM rollups to drastically boost the speed of transactions, while slashing the transaction costs. This will have significant implications for other dApps platforms too.
Polygon (MATIC)
Polygon (MATIC) is one of the most successful Ethereum scaling solutions. Polygon (MATIC) currently can process over 65,000 transactions per second. To improve the speed and lower the cost of transactions, Polygon (MATIC) introduced zkEVM rollups. zkEVM rollup refers to zero-knowledge rollup that’s compatible with EVM. This marks a significant milestone for the dApps ecosystem on Ethereum.
Zero-knowledge proofs offer the highest security and privacy for transactions involving data transfer and verification. A ZK rollup combines multiple transactions into a single batch on Polygon (MATIC) and executes them simultaneously, while ensuring that only the essential information is recorded on Ethereum. zkEVM rollups make it possible to bundle thousands of transactions into a single batch, slashing transaction costs by order of magnitudes.
The launch of the zkEVM rollup on Polygon (MATIC) was such a significant moment that Vitalik Butarin was involved in the launch event and sent the first message using the functionality. Even Cardano’s (ADA) Charles Hoskinson congratulated the Polygon (MATIC) team on the launch.
Cardano (ADA)
When Charles Hoskinson, Cardano’s (ADA) founder, lauded Polygon’s (MATIC) team on Twitter, it was a rare show of camaraderie among rivals. After all, Cardano (ADA) is a direct competitor to Ethereum, and, therefore, a rival of Polygon (MATIC) too. In fact, Polygon’s (MATIC) zkEVM rollup makes Ethereum a much faster and more capable competitor to Cardano (ADA). Indeed, going forward, we expect stiff competition from Ethereum to Cardano (ADA), thanks to Polygon’s (MATIC) innovations. Therefore, Hoskinson’s tweet is a healthy change of pace for an industry that’s notoriously cutthroat.
Despite the increasing threat, Cardano (ADA) has reasons to rejoice. On-chain data indicates rapidly escalating transaction volumes on Cardano (ADA). On the back of this data, Cardano (ADA) witnessed a sharp price rise and entered a definitive uptrend. Perhaps, there’s enough room for Cardano (ADA) as well as its competitors in the crypto world. After all, the Alonzo upgrade granted Cardano (ADA) new capabilities that bring it on par with Ethereum in terms of DeFi infrastructure. Cardano (ADA) now supports smart contracts and dApps.
TMS Network (TMSN)
TMS Network (TMSN) is a decentralized exchange that allows traders to buy and sell cryptos, CFDs, equities, and forex. Unlike CEXs, TMS Network (TMSN) does not have a KYC requirement, nor does it require users to create accounts. Instead, crypto users can use their wallets to transact on TMS Network (TMSN) directly. The best part about TMS Network (TMSN) is that it pulls trade data from multiple equity and crypto exchanges to give traders the best deals.
Crypto investors love TMS Network (TMSN) for its many features, including social trading, AI bot trading, arbitrage trading signals, on-chain analytics, etc. In fact, they’ve poured over $3 million into the ongoing ICO of TMS Network (TMSN). As TMS Network (TMSN) nears the wrap-up of its stage 2 presale, TMS Network (TMSN) is selling at $0.046, an 100% increase from its initial price of $0.025.
For more information on TMS Network (TMSN) please see the links below:
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetwork
