Polygon network’s zkEVM scalability solution will offer developers full Ethereum compatibility powering web3 applications on ETH. 

Web3 projects like Ankr, Chainstack and Etherscan will harness zero-knowledge rollups compatible with Ethereum, through MATIC’s zkEVM. 

MATIC has witnessed a massive surge in on-chain activity ahead of the mainnet beta launch of zkEVM. 

Ethereum network’s largest scaling solution Polygon is launching its zkEVM mainnet beta in a few hours on March 27. MATIC’s zkEVM launch is key to developers in the web3 ecosystem as it boosts scalability and ensures compatibility with the Ethereum Virtual Machine (EVM). 

MATIC zkEVM beta launch goes live within a few hours

MATIC, the native token of Ethereum’s scaling solution Polygon is set to rollout the mainnet beta of its zero-knowledge Ethereum Virtual Machine (EVM) compatible zkEVM beta. Polygon network acknowledges the utility of the zkEVM beta launch for developers of web3 applications. 

MATIC zkEVM has lined up web3 partners API3, ankr, Biconomy, Etherscan and Sequence among others. 

Polygon network activity climbed ahead of zkEVM mainnet beta launch

MATIC accumulation by whales is on the rise with Polygon network’s upcoming launch. Large wallet investors in Polygon have scooped up the altcoin over the past two weeks as seen in the chart by Santiment. 

MATIC holders with 1,000 to 10,000 coins and 1 million to 10 million tokens have been steadily accumulating the altcoin since February 25. Santiment analysts recently noted that whales have increased their activity and transactions on the Polygon network, ahead of mainnet beta launch. 

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EOS EVM testnet launch allows developers to build and deploy smart contracts written in Solidity – Ethereum’s programming language.

The launch underscores the network’s commitment to performance, flexibility, security, and developer experience.

Despite the merits of this launch, long liquidations have been spotted on exchanges, causing EOS price to plummet.

The first milestone on the EOS Network Foundation’s roadmap, the completion of the EOS EVM (Ethereum Virtual Machine) code, was achieved on March 22, starting the countdown to the launch of the EOS testnet. Well, it is finally here and the community is elated as it brings them closer to the mainnet release on April 14. The project has been a massive undertaking for developers and contributors across the EOS ecosystem.

Big News The $EOS  EVM is code complete ✅ This is the first milestone on the roadmap to launch, with testnet slotted for March 27 and Mainnet Beta on April 14 Stay tuned for a deep dive into the powerful architecture behind the EVM dropping this week ⚙️ pic.twitter.com/ldQAN1HVN9

— EOS Network Foundation (@EOSnFoundation) March 22, 2023

EOS testnet launch: Benefits to developers and users

EOS Network is an open-source blockchain platform, prioritizing high performance, flexibility, security, and developer experience. The high-performing blockchain platform’s move to add the new feature dubbed EOS EVM (Ethereum Virtual Machine) is a big win for developers, allowing them to build and deploy smart contracts written in Solidity, the same programming language that Ethereum uses.

Clearly, the network has the interest of developers at heart. Evidence of this is their move one week ago, committing to a $20 million direct investment into EOS EVM and GameFi projects.

EOS price drops as exchanges record massive long liquidations

EOS price is trading with a bearish bias at the time of writing, despite the alt season heating up. The token is auctioning at $1.081, after shedding almost 5% in the last 24 hours. Trading activity is up by 20% in the same timeframe, however, as token holders sell off their EOS to minimize losses.

Based on Coinglass data, the EOS price drop caused $1.04 million longs to be liquidated on March 27, against $158,710 shorts. The largest liquidation occurred on Binance followed by OKX, then Bybit.

As shown on the chart, there were many long positions before the price drop.

What to expect from EOS price this week

An increase in selling pressure from the current level of $1.081 could send EOS price lower to find the next breather at the $1.017 support area, or in dire cases, tag the $0.955 support level, reposting the March 12 lows. Such a move would constitute an 11% drop from current levels.

The trajectory of the Relative Strength Index (RSI) moving downwards with a price strength of 45 further supports the bearish sentiment, showing EOS price could plunge further.

On the upside, if buyer momentum increases, EOS price could recover its position above the 100-day Exponential Moving Average (EMA) at $1.092 and fall back within the triangle above the 50-day EMA at $1.115. A decisive flip of this resistance level into support would increase the chances for recovery.

Within the triangle, the EOS price would have to confront the 200-day EMA at $1.161 for a chance to break out of the governing pattern northward. A daily candlestick close above this level will invalidate the bearish thesis. On an upward move, the altcoin could breach the resistance level offered by a downtrend line at the $1.187 psychological level.

In highly bullish cases, EOS price could ascend toward the $1.225 resistance level, or even tag the $1.297 obstacle, a move that woul constitute a 19% climb from the current price.

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In order to decrease the likelihood of a malicious blockchain reorganisation and improve compatibility with other Ethereum Virtual Machine (EVM) blockchain networks, #Binance 's #BNB Chain is scheduled to undergo two hard forks in August 2023.

In order to decrease the likelihood of a malicious blockchain reorganisation and improve compatibility with other Ethereum Virtual Machine (EVM) blockchain networks, Binance's BNB Chain is scheduled to undergo two hard forks in August 2023.

Following considerable testing, the Plato and Hertz improvements are slated to take place on August 10 and August 30, respectively. BEP-126 is introduced by the already-completed Plato upgrade. The most recent evolution proposal includes a quick finality mechanism that should make it impossible for blocks to be reversed.

On August 10 at block height 30724096, the Plato improvement was completed. from BscScan

In an interview with Cointelegraph, Arno Bauer, senior solution architect at BNB Chain, broke down the intricacies of the network changes. Users will be able to rapidly obtain accurate information from the most recent finalised block thanks to the fast finality mechanism, which is anticipated to decrease the likelihood of chain rearrangement and stabilise block production. In his words:

Essentially, BEP-126 proposes to add a rapid finality mechanism to the BNB Smart Chain to improve blockchain security and effectiveness.

According to Bauer, a fundamental idea of blockchain technology is finality, which refers to the point at which a transaction or block of transactions can no longer be changed or undone. With blockchain systems, finality is still essential for preserving confidence and avoiding double-spending.

Fast finality is introduced in BEP-126 through a sequence of procedures. A block is first proposed to the network by a validator, and other validators then receive that block. Validators create a vote message by signing for the block with their private keys next. When the immediate parent block has a sufficient number of votes, voting aggregation takes place, with validator votes being collected into a pool and aggregated.

When voting for blocks, validators must abide by certain criteria, such as refraining from publishing two unique votes for the same height. A block is "justified" according to the finality rules if its direct child block's header has an attestation, and it is finalised if both the block and its direct child are justified.

Even though other chain forks have a greater difficulty sum, the fork is regarded to have the longest chain since it includes the highest justified block. Regarding the necessary number of validators, there are additional differences in the requirements for producing blocks and finalising blocks.

Last but not least, similar to Ethereum's proof-of-stake protocol, BNB Chain validators are rewarded for voting, while those who break the rules are punished with losses.

The Hertz hard fork, scheduled on August 30, aims to keep the BNB Chain current with the most recent advancements in EVM blockchains. As Bauer explains, the Berlin and London forks of Ethereum, which were recently implemented, require the BNB Chain to maintain its block and transaction structures as well as its base EVM.

In order to promote a smooth development and ecosystem expansion, it is crucial that such EIPs are also enabled on #BSC for compatibility reasons.

According to Bauer, the BNBChain 's rapid finality mechanism should make the environment for decentralised apps (DApps) more safe while also enhancing their responsiveness and efficiency. #evm

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ConsenSys, a leading company known for being behind the MetaMask cryptocurrency wallet, is strengthening Ethereum's Layer-2 ecosystem with a new participant. This week, ConsenSys announced a new Layer-2 network called Linea. Linea has been developed as an integrated solution to the Ethereum main blockchain and will include partners they will collaborate with in the near future.

Features and Advantages of Linea:

Linea is a Layer-2 scaling solution that utilizes zero-knowledge proofs (zkEVM) to address Ethereum's scalability issues. ConsenSys is the latest company to join the trend of utilizing zero-knowledge proofs. It is reported that Linea has successfully passed a testing phase and has become one of the largest projects on the rapidly growing Goerli testnet. By combining the power of zero-knowledge proofs with the Ethereum Virtual Machine (EVM) equation, Linea allows developers to build scalable decentralized applications (dApps) or migrate existing applications without the need to modify or rewrite them. #evm

The advantages offered by Linea include an increase in transaction capacity and a reduction of transaction fees by 15% compared to Ethereum Layer-1. Additionally, Linea is said to have the capability for deeper integrations with MetaMask. ConsenSys has announced that Linea will be available to users next week and their partners will begin integrating their dApps and infrastructure. #Ethereum

ZkEVM Technology:

ZkEVM is an EVM-compatible rollup secured by zero-knowledge proofs. This technology enhances the interaction between zero-knowledge proofs and smart contracts and decentralized applications (dApps) used on Ethereum while maintaining EVM compatibility. ConsenSys' Linea project aims to make the Ethereum ecosystem more scalable by utilizing this technology.

ConsenSys' Previous Work and Other Players in the Industry:

ConsenSys' Linea project demonstrates the active involvement of a well-known company in the Ethereum ecosystem in the Layer-2 space. Notably, examples of successful projects in this area include zkSync by Matter Labs, announced in March, and Polygon's zkEVM product, both of which have received significant attention.

In Summary:

ConsenSys' new Layer-2 network called Linea aims to provide scalability and low transaction fees to the Ethereum ecosystem. Developed using zero-knowledge proofs, Linea enables developers to create scalable decentralized applications (dApps) or migrate existing applications without the need for extensive modifications or rewrites. ConsenSys' Linea project stands out as an established player in the Ethereum Layer-2 space, continuing its efforts to bring more scalability to the Ethereum ecosystem. #layer-2 #ConsenSys #linea $ETH

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The EOS Foundation has announced the launch of the Ethereum Virtual Machine for Solidity developers. This will enable interoperability between the two largest networks in the market. The EOS Network will accelerate its growth by using open source code libraries and tools already available in the Ethereum ecosystem. Ethereum developers will also benefit from the low transaction fees, fast transactions, and mass-scale deployment of decentralized applications offered by EOS Network.

Once considered the killer of Ethereum, EOS is now taking a different approach and is now utilizing the resources offered by the Ethereum blockchain to keep pace and possibly get ahead of the curve. EOS will look to accelerate its development by giving its developers and users access to the Ethereum blockchain through the EOS Ethereum Virtual Machine.

Solidity is used by most web3 developers on Ethereum, but developers have struggled due to the network’s inefficiencies with high fees, slow speeds, and inability to scale. With EOS EVM running decentralized applications written in Solidity, Ethereum’s native programming language, EOS will gain access to Ethereum resources. The launch introduces developers to the best of both worlds – Ethereum resources and the superior performance of the EOS network.

Speaking at the launch, Yves La Rose, Founder and CEO of EOS Network Foundation said;

Our goal is to create an interoperable future where the gaps between blockchains, developers and end users are bridged. EOS EVM does just that,

With EOS EVM, it is now significantly easier for Ethereum developers and end users to take advantage of the low fees, ulta-fast speeds, and reliability of the EOS Network. EOS EVM is a significant milestone and represents our commitment to a multi-chain future.

The launch comes just days after EOS Network Ventures’ public commitment to invest $20 million in GameFi and EOS EVM projects. These initiatives help drive the growth and mass adoption of EOS. In addition, today, DWF Labs confirmed an investment of more than $60 million in partnership with the EOS Network Foundation. In part, providing a $45 million EOS token purchase agreement and $15 million worth of pledges to EOS-based projects.