This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Polygon (MATIC) is set to undergo a significant upgrade known as zkEVM. The upgrade is scheduled to take place on November 23 at 13:00 UTC and will last for 30 minutes. During this time, there will be no interruptions on the Polygon network. However, after the upgrade is completed, there may be some interruptions as the sequencer restarts, which is expected to take approximately 2 minutes. End-users are not required to take any action before or after the upgrade.Developers, on the other hand, are required to upgrade their node, prover, and bridge to the latest version in order to unlock the full potential of the network and continue building decentralized applications (DApps) on the Ethereum blockchain.The zkEVM upgrade introduces additional innovation to the deployment of DApps, allowing for the deployment of any Ethereum application without modifications using existing Ethereum developer tools like Remix and interacting with the network using standard wallets like Metamask.The upgrade will bring significant changes to the “zkEVM node, bridge, and prover infrastructure,” including RPC, sequencer, synchronizer, and databases. It will also introduce Websocket improvements.It’s worth noting that previous updates have been made to the layer-2 scaling solution, including the addition of Polygon PoS Bridge to the Polygon zkEVM. Additionally, Polygon 2.0 has proposed an upgrade to reimagine all aspects of the ecosystem, with three Polygon Improvement Proposals (PIPs) released and set to take place in Q4 2023. These proposals include upgrading the native gas token on Polygon POS from MATIC to POL.The current announcement of the zkEVM upgrade has caused a price surge in MATIC, with the asset trading at $0.78135 and experiencing a 2.8 percent surge in the last 24 hours. Market data suggests that MATIC could finish the year with a minimum price of $0.93762 and an average price of $1.17, with the potential to trade as high as $1.41.It’s important to note that readers should conduct their own research before taking any actions related to cryptocurrencies, as this summary is for informational purposes only.