Astar Network launches Polygon-powered zkEVM solution

September 14, 2023 03:20 AM AEST | By Invezz
 Astar Network launches Polygon-powered zkEVM solution
Image source: Invezz

Astar Network has undertaken a major network development after it announced on Wednesday that it had finally launched its Polygon-powered zkEVM solution. But despite the bullish feel around the news, the price of the altcoin has declined nearly 10% in the past 24 hours as buyers struggled to hold onto gains.

The token traded at $0.05 on Wednesday afternoon, with a 24-hour trading volume of over $16 million representing a 9% decrease. ASTR, which its highs above $0.1 in February, could struggle for upside momentum if the broader market continues to grapple with widespread uncertainty.

Astar announces Ethereum L2 zkEVM solution

Astar is Japan’s leading blockchain that offers a Web3 platform for developers to create decentralised applications (dApps) and layer-2 interoperability solutions. Growth for the network over the past several months has included major milestones in terms of network development and partnerships. Among these has been key collaborations with Fireblocks, NTT Digital and Sony Communications Network.

Today, the blockchain platform announced the launch of a zero-knowledge powered layer-2 chain on Ethereum. Per details shared in a blog publication, the Astar zkEVM will be powered by Polygon’s Chain Developer Kit (CDK).

“We’re excited to add another cutting-edge technology to our tech stack with Astar zkEVM. This allows us to tap into the vast Ethereum ecosystem and serve as a gateway for enterprise adoption in Japan and beyond. We will remain deeply rooted in the Polkadot ecosystem, which also includes enabling interoperability between all our VMs: EVM, zkEVM, and WASM,” Maarten, Head of the Astar Foundation, said.

The EVM-compatible chain will improve the network’s interoperability and see businesses tap into features such as increased transaction speed, scalability and security in their Web3 projects. The Ethereum L2 protocol is expected to revolutionise the entertainment and gaming industry.

The post Astar Network launches Polygon-powered zkEVM solution appeared first on Invezz.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.