The transition to the scalable and energy-efficient Proof-of-Stake is approaching the proverbial door for Ethereum. Many have expressed doubts about the future of the project, given the complexity and size of The Merge. Among the prominent stakeholders, there is one project in particular that is bullish about the future of Ethereum and that is Polygon.
Ethereum is the boss
At the annual Ethereum conference in Paris, Mihailo Bjelic, the vice president of growth at Polygon, spoke with great enthusiasm about the upcoming Merge. “This is an upgrade on a live network with millions of users, billions in capital and tens of thousands of applications. It’s not easy, but The Merge has been in the works for over two years. All testnets have been successfully switched and the code has been sufficiently tested […] I think we’re more than ready for the real thing,” said Bjelic.
Furthermore, Bjelic gives two reasons why he considers it very likely that Ethereum will survive the bear market. The first is that Ethereum is the platform where 90 percent of all activity takes place. The second and final reason is that, according to Bjelic, Ethereum is the most secure, decentralized and programmable blockchain in the world. “It is perfectly positioned to be the center of the multi-blockchain spider web,” Bjelic said of Ethereum.
Polygon is also making great strides
In line with Bjelic’s statements, Polygon also took a fantastic step this week with the launch of Polygon zkEVM. A so-called ‘zero-knowledge Ethereum Virtual Machine’ that makes it possible to significantly scale up the transaction capacity of the blockchain. “It has full EVM compatibility, scalability and security thanks to the use of zero-knowledge proofs. I would say this is a major breakthrough in technology,” said Bjelic.
In terms of adoption, Polygon has nothing to complain about either. The project now houses 30,000 different applications and 140 million user wallets. It is probably not about 140 million individuals, but that is still a major achievement. Polygon (MATIC) acts as a second-layer solution for Ethereum. A way to scale up the Ethereum blockchain.
