Connect with us
Active Currencies 16228
Market Cap $3,507,262,719,119.30
Bitcoin Share 55.01%
24h Market Cap Change $0.90
Altcoin

Polygon zkEVM completes Dragonfruit update, but concerns persist 

2min Read

With the Dragonfruit upgrade, zkEVM has become the only rollup as of now that supports Ethereum’s PUSH0. However, the rollup’s network activity continues to decline.
Posted:
Avatar
Journalist
Polygon zkEVM completes Dragonfruit update, but concerns persist 
Avatar
Journalist
Posted:

Share this article

  • zkEVM’s daily active addresses have declined. 
  • Uniswap submitted a proposal seeking a friendly hardfork on Polygon zkEVM.

As reported earlier, Polygon [MATIC] zkEVM was expecting a new network upgrade that would add multiple new features. The latest tweet from Polygon revealed that the rollup successfully completed its Dragonfruit upgrade. 

Read Polygon’s [MATIC] Price Prediction 2023-24

With the update, zkEVM has become the only rollup that supports Ethereum’s PUSH0. 

Dragonfruit update is successful 

Polygon announced that it would push out the Dragonfruit upgrade on 20 September, which has now been successfully released.

With the update, Polygon zkEVM Mainnet Beta became up to date with the latest version of Solidity, maintaining the rollup’s equivalence with the EVM by incorporating support for the latest EVM opcode PUSH0.

For the uninitiated, PUSH0 is the latest EVM opcode included in the Shanghai hard fork. The update could have resulted in a hike in zkEVM’s network activity, but that was not the case. 

Unfortunately, the Dragonfruit update also did not have a positive impact on the rollup as zkEVM’s key metrics remained low. For instance, in the recent past, zkEVM’s daily active addresses took a downturn. A similar trend was also noted in terms of its daily transactions.

Source: Artemis

Thanks to this, zkEVM’s daily gas use also declined. Polygonscan’s data revealed that after spiking in late August, the rollup’s daily gas usage has plummeted sharply, suggesting less activity on the network.

The rollup’s captured value was also declining, which was evident from the dip in its TVL and fees. Nonetheless, the overall ecosystem seemed to have grown over the months as the total number of unique depositors continued to rise. 

Source: Polygonscan

A new hardfork might be around the corner

Amidst this, Uniswap [UNI] submitted a proposal for a friendly hardfork. For starters, a friendly fork refers to a situation in which a protocol is duplicated, creating a new version that maintains a positive and collaborative relationship with the original project.

The newly submitted proposal aims to focus on the integration of Zero Protocol as a friendly fork of Uniswap on the Polygon zkEVM chain.

Is your portfolio green? Check out the MATIC Profit Calculator   

As per the official proposal, Uniswap can harness the advantages of Zero Protocol while ensuring that both projects benefit mutually and contribute to the evolving DeFi landscape.

The proposal suggested a structured proposal timeline spanning three weeks to ensure transparency, community engagement, and thoughtful decision-making.

 

Previous:
Next:

Share

Avatar
Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. He is a singer and a guitarist who also enjoys going on long bike rides.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.