In a noteworthy development for the Ethereum scaling solution ecosystem, Polygon zkEVM has successfully completed its first major upgrade, known as the Dragon Fruit upgrade or ForkID5. This momentous achievement marks a crucial milestone for the network, which has been gaining traction since its mainnet beta launch in March of this year. The upgrade took place on Wednesday, September 20, at 7:30 a.m. UTC.
Polygon Announces the Rollout of Dragon Fruit
Polygon (MATIC), in a tweet, proudly announced the successful completion of the Dragon Fruit Upgrade, along with the Polygon zkEVM Mainnet Beta upgrade and bridge operations. This upgrade introduces several enhancements to the network, including support for the latest Ethereum opcode, PUSH0.
The Upgrade in More Detail
The most notable addition in this upgrade is the support for PUSH0, the latest Ethereum Virtual Machine (EVM) opcode introduced during the Shanghai hard fork. This opcode enables developers to optimize their smart contracts and transactions further. Additionally, a noncritical bug in the parsing of transactions has been fixed, improving the overall reliability of the network.
One significant outcome of this upgrade is that Polygon zkEVM now joins the exclusive list of EVM networks that support the PUSH0 opcode, alongside the Ethereum blockchain itself. This aligns Polygon zkEVM Mainnet Beta with the latest version of Solidity, ensuring compatibility and equivalence with the EVM, a critical factor in maintaining interoperability and seamless integration with the broader Ethereum ecosystem.
As the Polygon network achieves this technological milestone, it is also worth noting that the Polygon 2.0 implementation has officially begun. In a remarkable move, Polygon has released the first set of Polygon Improvement Proposals (PIPs), comprising three proposals, which outline the changes set to commence in early Q4 of this year.
PIP-18, one of the key proposals, outlines Phase 0 of Polygon 2.0. This phase will oversee a series of substantial changes, including the transition from MATIC to POL as the native gas and staking token for the Polygon Proof-of-Stake (PoS) blockchain. This significant shift is expected to enhance the utility and governance of the network while facilitating a more seamless staking experience for users. Furthermore, PIP-18 paves the way for the launch of the staking layer and subsequent migration, ensuring Polygon remains at the forefront of blockchain innovation.
Potential Polygon and Uniswap Partnership
In related news, an exciting development looms on the horizon as Polygon and Uniswap consider a potential partnership. A vote proposing a "friendly fork" between Uniswap DAO and Zero Protocol on Polygon zkEVM is currently under consideration. If passed, this collaboration could bring significant benefits to both networks, fostering increased liquidity and utility within the Polygon ecosystem.
The successful Dragon Fruit upgrade reaffirms Polygon's commitment to delivering cutting-edge solutions in the blockchain space. With enhanced support for the latest Ethereum opcode and improved transaction parsing, Polygon zkEVM continues to evolve, offering a robust and scalable environment for developers and users alike.
As Polygon gears up for the implementation of Polygon 2.0 and explores potential collaborations with leading DeFi platforms like Uniswap, the future appears bright for this innovative scaling solution. Stay tuned for further updates on Polygon's journey as it continues to shape the blockchain landscape.
Ledger Issues Warning to Ethereum, Polygon, and Binance Users Regarding NFT Scams
Meanwhile, the cryptocurrency wallet provider Ledger has issued a crucial alert to users of Ethereum, Polygon, and Binance. The warning is directed at these users to stay vigilant and cautious when it comes to scam "voucher" NFTs that may be sent to their accounts. According to Ledger, these seemingly harmless NFTs can contain malicious links designed to trick users into revealing their highly sensitive 24-word recovery phrase.
Ledger has raised concerns about the increasing prevalence of scam NFTs that promise to be vouchers, offering the allure of free money upon redemption through third-party websites. These deceptive NFT vouchers often contain links leading to external websites, but their true intention is far from benevolent. In this type of scam, unsuspecting users are lured into visiting third-party websites or apps where they may be prompted to disclose their 24-word recovery phrase or unknowingly sign a malicious transaction using their Ledger device. This can ultimately provide scammers with authorized access to the victims' cryptocurrency accounts.
To mitigate the risk of falling victim to such scams, Ledger emphasizes the importance of safeguarding one's 24-word recovery phrase. Users should never share this crucial piece of information with anyone or input it into any website or application.
How to Protect Your Funds on Ledger
In an effort to help users protect themselves, Ledger has outlined several key steps to follow when confronted with an unsolicited NFT voucher containing links:
1. Avoid Interaction with Links or Websites: The first and foremost precaution is to steer clear of any interactions with the links or websites associated with the suspicious NFT. Clicking on these links can lead to potential security breaches.
2. Do Not Send the NFT to Another Account: Users should refrain from sending the NFT to another account or a burner address. Attempting to do so might necessitate interactions with the NFT's underlying smart contract, which could harbor malicious intent and compromise the user's account.
3. Conceal the NFT in Ledger Live: Ledger recommends users take the proactive step of hiding the NFT collection within Ledger Live. This can be accomplished by right-clicking on the NFT and selecting the "Hide NFT Collection" option. Concealing the NFT can help prevent further unwanted interactions with it.
In light of the growing sophistication of cryptocurrency scams and phishing attempts, vigilance and caution remain paramount in the cryptocurrency space. Ledger's warning serves as a timely reminder for users to exercise diligence and follow best practices to protect their digital assets and personal information.
As the cryptocurrency ecosystem continues to evolve, security awareness and education will play a pivotal role in safeguarding users against a myriad of threats. By staying informed and adopting preventive measures, cryptocurrency enthusiasts can continue to enjoy the benefits of this transformative technology while minimizing the risks associated with it.
Price Overview
From a price performance point of view, CoinStats, the cryptocurrency price tracking website, indicated that MATIC recorded a 0.26% loss over the past 24 hours. Despite the negative daily performance, the altcoin’s price was still up 4.75% for the week. Subsequently, MATIC was changing hands at $0.539095 at press time.
Price chart for MATIC (Source: CoinStats)
MATIC was also outperformed by the market leader Bitcoin (BTC) throughout the past day of trading. During this time, the altcoin’s value dropped 0.24% against the leading cryptocurrency. This meant that 1 MATIC token was estimated to be worth 0.00001993 BTC.
Meanwhile, MATIC’s performance on the longer time frames remained firmly set in the red zone. According to CoinStats data, the layer-2 cryptocurrency’s price was down 3% over the past 2 weeks as well as over the last month. When it comes to the 1-year horizon, MATIC’s price was still down around 26% for this period.
