Why Vitalik Buterin Recommended Polygon (MATIC)

New developments often signal significant changes to an increasingly interconnected and efficient cryptocurrency market. One such remarkable achievement by Polygon has attracted the attention of the crypto community, including Ethereum founder Vitalik Buterin.

This development includes the release of the “Type 1 prover”, a novel component designed to increase the scalability and interoperability of Ethereum-compatible networks with zero-knowledge proofs.

Polygon represents a new technological development

Polygon's recently announced Type 1 prover represents a significant moment in the blockchain industry. In fact, it allows any network compatible with the Ethereum EVM standard to be converted into a layer 2 network. This integration facilitates seamless connectivity with Polygon's wider ecosystem and ushers in a new era of blockchain efficiency and accessibility.

The technological brilliance of this development did not go unnoticed by Vitalik Buterin. To maximize the capabilities of Layer 2 networks, they support zero-knowledge authentication capabilities, bringing them on par with their underlying blockchains.

“My personal hope is that everything will become Type 1 over time, with improvements made to ZK-EVMs and improvements to Ethereum itself, making it suitable for ZK-SNARK. In such a future, we will have many implementations of ZK-EVM to prove itself to the ZK package and the Ethereum chain,” he said. Buterin wrote.

The significance of this breakthrough lies in its potential to unify the fragmented blockchain industry. By allowing EVM chains and optimistic coils to connect unmodified to a Type 1 prover and then connect to the Polygon integration layer, networks can access Ethereum's vast liquidity and value.

This achievement is a critical part of Polygon's roadmap. It emphasizes the integration of “zero knowledge” or ZK cryptography as a cornerstone technology for future developments.

The Type 1 prover promises an unparalleled level of compatibility with Ethereum. It has the potential to generate ZK proofs for Ethereum mainnet blocks at a low cost per transaction. Thus demonstrating the efficiency and affordability of this advanced cryptographic method.

“With the Type 1 update, proofs generated by Polygon's zkEVM prover in Type 1 mode are already generated for major Ethereum blocks at an average of $0.002 to $0.003 per transaction (>36x faster than any other Type 1 prover). With Plonky3 and zkEVM updates, next year from 30 to Expect a 50X cost reduction,” writes Polygon Labs.

Analysts turn bullish on MATIC's price potential

Amidst this technological advancement, MATIC's price action has attracted high-profile views from various analysts. Sentiments range from optimism about buying opportunities during the crypto bull run to strong upside expectations. The market's reaction highlights the impact Polygon's innovations could have on the token's value.

For example, Mr. Crypto MATIC pointed out that “this crypto bull run is slowing down.” Similarly, crypto rand highlighted the token's “consolidation” phase after finding a significant resistance level, hinting at the possibility of a major rally.

Additionally, Cold Blooded Shiller emphasized MATIC's performance on higher time frames, describing it as “one of the best charts in crypto right now.”

“MATIC does that thing, ‘Haha, I'm too weak in resistance, please cut me short,' and then BAM it kicks up,” said the cold-blooded Schiller.

Read More: Polygon (MATIC) Price Forecast 2024/2025/2030

The Polygon Type 1 prover is a demonstration of the future of blockchain interoperability and efficiency. As speculation about MATIC's future price action mounts, it's clear to be cautious about what will happen in Polygon's ride. Expert confirmation from figures such as Vitalik Buterin reinforces this.