What Happened on Mar. 28th | The Role of $MATIC token in Polygon zkEVM

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Ethereum zkRollup developers are racing to launch zkEVM. After the zkSync Era, Polygon launched its zkEVM. While there will be a token for zkSync Era in the future, what's the role of $MATIC token in the Polygon zkEVM, or will there be a separate token?

Polygon zkEVM is a Layer 2 scaling solution for Ethereum that leverages the scaling power of zero-knowledge proofs while maintaining Ethereum compatibility. Developers and users on Polygon zkEVM can use the same code, tooling, apps, etc that they use on Ethereum, but with much higher throughput and lower fees.

In the current Polygon PoS sidechain, the $MATIC token is used for the gas fee. However, according to the official documentation, ETH will be used for gas fees in Polygon zkEVM. It is expected that MATIC will be used for staking and governance in Polygon zkEVM in the future, but there is no detailed plan revealed by the team. Therefore, up to this point, the launch of Polygon zkEVM has nothing to do with the $MATIC token.

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ConsenSys Intensifies Competition in zkEVM Space, Launching Public Testnet of Linea:After zkSync Era and Polygon zkEVM went live on mainnet, ConsenSys, another player in the zkEVM space, announced its the latest updates. The Ethereum software company named its zkEVM solution Linea and launched the public testnet, available to any developer, user, and protocols.

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