Polygon’s job cut follows a raft of layoffs in the crypto landscape following notable failures from former industry giants. Indeed, the crashes of stakeholders like TerraLuna (LUNA) and its sister token TerraUSD (UST), Three Arrows Capital, and FTX rocked the digital asset ecosystem.
Polygon zkEVM Mainnet Beta Coming In March
The scaling protocol revealed plans to launch its zero-knowledge Ethereum Virtual Machine, or zkEVM on March 27. ZK technology has been touted as a significant upgrade for layer 1 blockchains, allowing networks to handle greater traffic and activity.
ZKEVMs leverage a scaling solution known as ZK rollup. This allows a protocol to quickly settle bulk transactions on a layer 2 network before sending the transactions back to the mainnet network.
Polygon also gained traction last year after integrations with Solana wallet Phantom, Meta, and token listings on Robinhood.
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