U.Today - As U.S. SEC attacks on altcoins are getting traction, the Polygon (MATIC) co-founder decided to make things clear about the role of Polygon and its zkEVM development in Web3 progress.
Polygon zkEVM launch changed world, "hyper-blockchainization" is coming, Sandeep Nailwal says
The world is on the verge of "hyber-blockchainization" as the mainnet release of Polygon zkEVM network changed the world forever. Such a statement was made by Polygon (MATIC) co-founder Sandeep Nailwal on his account today, on June 7, 2023.According to him, the progress achieved with the zkEVM rollout cannot be amended: "There's no going back." As such, the adoption of blockchain solutions will go parabolic in the next cycle.
As covered by U.Today previously, Polygon zkEVM network saw its first version activated in mainnet on March 27, 2023. This milestone is the most anticipated for Polygon (MATIC) enthusiasts in 2023.
Polygon zkEVM network allows the largest EVM blockchain to replace EVM-compatibility with EVM-equivalence and to reduce fees by orders of magnitude with zero decentralization and throughput trade-offs.
Polygon zkEVM core developer Eduardo Antuña estimates that the network will be able to process 10,000 transactions for just $1 in gas fees.
Tech does not care about securities status?
The statement by Mr. Nailwal comes amid an accelerated attack by the U.S. SEC against top-tier altcoins. As we covered previously, the SEC decided to sue Binance and Coinbase (NASDAQ:COIN) for unregistered securities offerings.For the first time ever, Polygon (MATIC) assets were categorized as securities. Cardano's ADA and Solana's SOL were also included on the list, together with other blue-chip altcoins.
In November 2022, Polkadot's team that its DOT coin became the first altcoin that "officially" morphed from its security status, which was confirmed by the SEC.