Polygon is launching a public testnet for the Ethereum Hermez scaling solution, as the race for a dominant Ethereum Layer 2 solution begins.
Hermez runs on top of Ethereum and increases its scalability by allowing you to process more transactions for a cheaper price.
Polygon acquired Ethereum Layer 2 scaling solution Hermez late last year for $250 million.
Now it seems that the DEFI will be incorporated in the tesnet tests
Upon launch, DeFi protocols such as Aave and Uniswap will be implemented on the testnet. This will allow these protocols and users to experiment with Hermez. It also allows the teams behind Aave and Uniswap to test for bugs that might occur, well in advance of the mainnet launch.
Hermez is a type of Layer 2 scaling solution known as zkEVM, which offers benefits that other Layer 2s do not, mainly around security and application customization.
3 months ago I started talking about matic and the implementation of zkEVM but it seems that the development is going faster than we thought its implementation would take.
I leave you the link in case you want to know more about the subject.
The good results that are being seen in the test network seem to be getting closer to the implementation of zkEVM, one more step towards web 3.0 and it is impacting the price of MATIC.
Price Analysis
While Bitcoin has retreated Matic has remained in a range
If we analyze the price we see that it has remained in the accumulation range after a correction and a recovery of the price to the dollar
The accumulation range would be between 0.75 and the dollar.
MATIC/BTC
While other Alcoins pull back against Bitcoin, Matic remains near the highs.
If we analyze the graph we see that the price is at the maximum of a pennant that has been formed, since May 2021
If it breaks, it could reach the maximum with respect to Bitcoin.
Reflection
The price of Matic in dollars gives the feeling that it could continue to rise, due to the improvements that they could bring to layer 2 of Ethereum.
The problem is macroeconomic worldwide and the instability that is being seen.
The crypto market is being affected and in recent weeks prices seem not to move, with exceptions