"Wow these two top firms are working together, this is great news."
Polygon and Near Protocol recently announced that they will join hands in developing the zkWasm prover* that will bridge the gap between Wasm-based blockchains and the Ethereum (ETH) ecosystem.
*Aims to show their knowledge of a value (let's call it x ) without revealing any data about x itself
Wasm or better known as WebAssembly is a framework used to run complex programs in the browser.
Please note that Wasm is considered as a successor to the ETH Virtual Machine (EVM) as it offers greater flexibility and interoperability including supporting multiple languages and offering a wider toolset.
According to Polygon founder Sandeep Nailwal, zkWasm means that projects using the Polygon Chain Development Kit (CDK) can choose whether to launch or transfer the EVM chain or build the Wasm chain.
In addition to broader ecosystem development, the partnership will bring Near Protocol closer to ETH and allow the Wasm chain to tap into ETH's liquidity.
The NEAR cryptocurrency founded by Near Protocol has caught the attention of many investors as its price rose by more than 65% in the two weeks following the Near Protocol developer conference, NEARCON which started on November 7, 2023.
As the broader crypto market rally may not end until December, NEAR could break the $1.63 level but if it fails then the digital asset could fall towards $1.17.
While MATIC developed Polygon needs to break through $0.81 if it wants to continue the increase up to $0.88, otherwise the price of the digital asset can slip back to $0.73 followed by $0.68 if it cannot maintain its position.
As of this writing, the price of NEAR has jumped by 3.40% at $1.49 in the last 24 hours and MATIC is up around 5.89% at $0.78 with a market capitalization of $7 billion.
