Many have doubted the future of Ethereum’s popular coin due to the complexity and scale of the Merge, which is a transition to a scalable, proof-of-stake, energy-light proof-of-stake Blockchain. Despite this, Polygon, a layer-two scaling solution, remains a major stakeholder in Ethereum’s future.
Maria A., Cointelegraph’s Events Manager, spoke with Mihailo Bjelic, Polygon’s vice-president of growth, about the topic at the annual Ethereum Community Conference. Here are Mihailo’s thoughts on the Merge.
“This upgrade is on a live network with millions of users, billions of capital and tens to thousands of applications. Although it is not an easy task, the Merge has been in development for more than two years. The testnets were successful and the code has been audited. I believe we are ready for the upgrade.
Mihailo explained that Ethereum is more likely to recover from the bear market. It’s home to integration for two reasons. It’s the home of integration, where developers are all located and where 90%+ activity takes place. While projects that focus on money will fade, the true developers will remain.” He said that Ethereum was the safest, most decentralized and programmable cryptocurrency in the world. This makes it ideal to be at the heart of the multi-chain web that we are trying to create to reach billions of people.
Polygon also announced Wednesday that it had launched the Polygon ZkEVM (zero-knowledge Ethereum Virtual Machine), which would allow the blockchain to scale its transaction output to greater heights. It is fully compatible with EVM, scalable and secure using the power of zero knowledge proofs. Mihailo says that this technology breakthrough is significant. Since its inception, Polygon has adopted over 30,000 apps and 140 million user wallets.