Today in Markets

Polygon’s Turn

After a prolonged SOL run, is it MATIC's time to shine?
Nov 8, 20231 min read

Solana has put in a decent run, but momentum is slowing. Are Ethereum’s L2s poised to run? Polygon has posted a 26% gain over the past week and just announced a partnership with alt-L1 NEAR!

The NEAR Foundation is set to become a core contributor to the Chain Development Kit (CDK), Polygon’s zero-knowledge (ZK) rollup stack, with the goal of developing a ZK prover that is compatible with WebAssembly (WASM) blockchains. This will allow developers to write smart contracts on CDK chains in popular coding languages like C++ and Rust.

According to Polygon founder Sandeep Nailwal, such an upgrade would allow NEAR mainnet to prove its state and execution to Ethereum, creating a trustless ZK bridge between NEAR and Ethereum that allows liquidity to flow unimpeded between the two chains.

While Solana’s ascension has been fueled by memes of a single global state and consensus at the speed of light, announcements like the Polygon x NEAR partnership and reported talks between Polygon and Kraken on an L2 for the exchange demonstrate that Ethereum still possesses the network effects and users that alt-L1s are desperate to tap into!

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