Can EIP-4844 Drive Mass Adoption?
  • Polygon announced proposal EIP-4844, which promises to accelerate mass adoption of the network and increase the price of MATIC.
  • This proposal represents a step towards improving Ethereum’s Layer 2 ecosystem and our intention to continue building and bringing value to the network.

Polygon continues to demonstrate its dominance as the top layer 2 scaling solution for the layer 2 space and Ethereum. In a recent interview on the podcast Unchained, Polygon co-founder Brendan Farme revealed recent developments and focused goals aimed at helping the ecosystem grow. One of his key developments is his EIP-4844 proposal, which has the potential to drive mass adoption and drive up MATIC prices.

Late last month, Polygon’s zkEVM went down. This was caused by a reorg that caused inconsistencies that resulted in transaction errors and invalid nonce returns. This necessitated the need for solutions and enhanced security measures. Regarding this, Brendan Farm said:

There are decisions in the Polygon ZKM rollup that are currently being addressed that result in technical debt, specifically regarding clients and the use of custom clients.

The team also discussed Polygon’s AggLayer. This is a new approach to the ongoing debate between monolithic and modular blockchains. This decentralized protocol from Polygon Labs facilitates seamless interaction between different chains.

During the discussion, Polygon Labs CEO and co-founder delved into the details of AggLayer. The protocol aims to enable secure and fast cross-chain interactions, allowing different chains to utilize a single unified bridge.

The conversation also explored the potential for layer 2 solutions (and even layer 3) for scaling Ethereum, the benefits of zero-knowledge proofs, and the future roadmap for Polygon’s proof-of-stake chain.

Commenting on the EIP-4844 proposal, Polygon Labs CEO Mark Boiro added:

I think a short-term upgrade, i.e. moving to EIP-4844 in proof technology, will reduce proof costs by a factor of 10-20 as you move away from the existing proof technology. Really exciting.

This cost reduction could go a long way in encouraging users and developers to choose a network and encourage mass adoption.

At the time of writing, Polygon’s MATIC is trading at $0.8706 after turning slightly negative over the past 24 hours. Altcoins are under bearish pressure nearly 5% reduction In the past 7 days.

The 19th-ranked altcoin is under bearish pressure, but investors are keeping an eye on the upcoming Bitcoin halving to fuel bullish momentum.

As CNF reported earlier in the month, on-chain data shows the altcoin trading within a narrow range, suggesting investors are enjoying an accumulation phase. Historically, this is followed by a bullish breakout, with indicators pointing to a possible $3 target.

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