Polygon is already making Ethereum scalable today – this is now massively reflected in the MATIC course.
While large parts of the Crypto The market is in an overdue correction phase. One token is currently bursting one all-time high after another. We are talking about MATIC, the economic center of Polygon Network (formerly Matic Network). In the last 30 days alone, the MATIC price has risen by over 400 percent – and all of that without the help of eccentric Electric car manufacturer. At the time of going to press MATIC was trading at USD 2.05, down from two cents on January 1st.
In 2021, MATIC showed an achievement that was last seen on projects near pump-and-dump to plan.
In contrast to the Memecoins, however, the Polygon Network is a project with real added value for the crypto space, especially for the Ethereum ecosystem. Because during the aging smart contract king persevering pushes his walker in the direction of Ethereum 2.0, the amount in the Ethereum haze becomes denser. Decentralized finance (DeFi) and the hype about non-fungible tokens have further reinforced Ethereum’s pioneering role. There are exciting competitors in the starting blocks with projects like Cardano, Polkadot or Solana. Still, Ethereum or the smart contract programming language Solidity is the first point of contact for most blockchain developers in the wonderful world of decentralized Applications (dApps).
The hustle and bustle on the Ethereum blockchain means users have either high fees or very long waiting times for transactions. Ethereum 2.0 will fix this by switching to proof of stake and fragmentation, sharding. The change is anything but trivial. It will likely be a few more winters before Ethereum 2.0 blooms in full Fame.
Polygon is fully committed to solving Ethereum’s scaling problem. In particular, Polygon focuses on solutions where a second network layer solves the problem chronic cluttered Ethereum blockchain. That is why one speaks of Layer 2 technologies. The Polygon The network forms such a second level for Ethereum. The project, founded in 2017 as Matic Network, first implemented a version of Plasma. At the beginning of February this year, the rebranding took place in Polygon, which in addition to a facelift for the Home page and Logo also brought a more ambitious use case: Polygon wants to become the Ethereum of the Internet Blockchains. ”
Since Polygon is fully compatible with the runtime environment of the Ethereum Virtual Machine (EVM), dApps based on Ethereum can easily switch to Polygon without leaving the ether Ecosystem. The list of partners that are being worked with Polygon Aave, Decentraland or Chainlink are just a small part of the hundreds of crypto projects that are developing Applications for polygon. A full list of Polygon Partner is Here Find. The majority of the projects come from the DeFi area, which is known to be infamous high Fees, is particularly hungry for scaling solutions. Polygon did this with Plasma and Proof of Stake in the store. The offer will soon be expanded to include Zk rollups and optimistic rollups. In any case, the demand seems to be there – the explosive history of MATIC is an impressive testimony to this.
P.S. You can support me for Free Via ALL of these links and earn Crypto / Money yourself! https://allmylinks.com/zealdorn
Disclaimer: These lines are not a substitute for investment advice. Investing in the crypto market is at your own risk. Invest only as much as you are willing to lose. I receive commissions for purchases made through links in this post.