"Will this upgrade push the price of MATIC to go higher?"
In order to change the structural impact on its chain, Polygon zkEVM is about to implement a new upgrade that allows it to act more connected to the Ethereum (ETH) mainnet and make it easier for developers to build smart contracts.
So here it can be seen that the upgrade will make Polygon zkEVM a Type 2 ZK-EM which empowers developers to use their code on Polygon zk-EVM just like on ETH.
According to the shared update, the 10-day timelock for the Etrog Upgrade has been triggered and it comes with five additional pre-compiled smart contracts* then also comes with a new way of processing batches of transactions.
*Build-in functions that can be used in the development of smart contracts
Once the upgrade goes live, Polygon confirms that end users will not need to make any adjustments and all functions on the Polygon zkEVM protocol will operate as usual.
However, it should be noted that the race to dominate ETH layer-2 is heating up as it is surrounded by quite strong competitors such as Arbitrum (ARB), Optimisme (OP) and zkSync which are also in the spotlight.
Polygon strives to stay relevant through the new release of Polygon zkEVM and Polygon CDK tools where the former has gained traction for every user base while the latter is now being embraced by crypto players such as OKX and Flipkart to build multiple solutions.
Although all protocols have found their niche and relevance in the Web3 world, Polygon doubles its use by corporate firms such as Starbuck's and Adidas who launch their digital collections on its chain.
As of this writing, Polygon-based MATIC price trading at $0.79 still recorded a 0.88% decrease in the last 24 hours but still gained 1.62% over the last week.
