Polygon Hermez Bridged USDC (Polygon zkEVM)Price

(USDC)

Polygon Hermez Bridged USDC on the Polygon zkEVM network is a digital asset representing the USDC stablecoin within a high-performance Layer 2 scaling environment. It is primarily used to provide liquidity and stability for decentralized applications and financial protocols operating on the Polygon zkEVM chain. The project originates from the merger between Polygon and the Hermez Network in 2021. This was a notable event in the blockchain industry as it combined Polygon's ecosystem with Hermez's specialized zero-knowledge rollup technology. The resulting network, Polygon zkEVM, is designed to scale the Ethereum blockchain by processing transactions off-chain and using cryptographic zero-knowledge proofs to verify their validity on the Ethereum mainnet. This approach ensures high security and full compatibility with the Ethereum Virtual Machine, allowing developers to deploy existing smart contracts with minimal changes. In the Polygon zkEVM ecosystem, there are two distinct types of bridged USDC. The original version, often called legacy bridged USDC, was the first iteration used to bootstrap the network. More recently, a standard-compatible version was introduced following the Bridged USDC Standard developed by Circle, the issuer of USDC. This standard is designed to provide a clear pathway for the bridged asset to be upgraded to a native version of USDC in the future. By following this standard, the project aims to reduce liquidity fragmentation and ensure a more seamless experience for users as the network matures. The bridging process involves locking the original USDC on the Ethereum mainnet and minting an equivalent amount of the bridged token on the Polygon zkEVM network. This is facilitated by a trustless bridge mechanism that relies on the underlying zero-knowledge infrastructure of the rollup. This ensures that the assets on the Layer 2 network remain secure and can be verified by the Ethereum base layer. Overall, Polygon Hermez Bridged USDC serves as a vital component of the Polygon scaling strategy, enabling efficient and secure transactions while maintaining deep ties to the broader Ethereum ecosystem. It represents the ongoing evolution of stablecoin integration within advanced Layer 2 technologies. Learn more

Cryptocurrency prices are subject to high market risk and price volatility. You should invest only in projects and products you are familiar with and understand the associated risks. Carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial advisor before making any investment decisions. This material should not be considered financial advice. Past performance is not a reliable indicator of future performance. The value of your investment may go down or up, and you may not recover your invested amount. You are solely responsible for your investment decisions. LBank is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warnings. Please also note that the data related to the above-mentioned cryptocurrency (such as its current real-time price) is sourced from third parties and is provided “as is” for informational purposes only, without any representation or warranty. Links to third-party websites are not under LBank’s control, and LBank is not responsible for the reliability or accuracy of such websites or their content.