Polygon’s zero-knowledge chain, zkEVM, which was originally acquired through the $250 million purchase of Hermez in 2021, appears to have fallen flat. According to GrowThePie’s research lead, Lorenz Lehmann, Polygon zkEVM has seen little meaningful progress since its rebranding and is now operating at an annual loss of over $1 million. “Development Quietly Abandoned” Lehmann […]
Matter Labs, the developer behind the ZkSync Ethereum Layer 2 network, has decided to abandon its efforts to trademark the term “ZK.” In an update on June 3rd, Matter Labs said its decision to abandon its efforts to trademark the term “ZK” stems from the reasoning that it is “impossible to agree on a group […]
Polygon has witnessed a remarkable surge in its stablecoin market capitalization this quarter. According to the latest report from Messari, the Ethereum Layer 2 solution’s stablecoin market cap soared to a whopping $1.5 billion, reflecting a significant 19% increase on a quarter-over-quarter basis. Stablecoin Adoption on Polygon Soars Tether’s solidified its position as the dominant stablecoin […]