Polygon is a new crypto currency that processes over 65,000 transactions per second. The platform boasts low transaction fees. Its partners include Twitter, Stripe, Reddit, and Disney. In addition, 48 projects from Terra, which was imploded, migrated to Polygon. OnePlanet and Derby Stars migrated as well.
zkEVM
Polygon is an Ethereum-based multi-level platform that aims to scale the Ethereum network through sidechains, which are separate blockchains bound to the Ethereum main chain. This allows Polygon to support a variety of Decentralized Finance protocols. The platform is also backed by the Polygon SDK, which allows users to build Ethereum-compatible decentralized applications.
Polygon’s zkEVM solution is designed to reduce transaction fees by 90% and increase the speed of transactions. The company’s solution uses Zero Knowledge Proof technology, which enables developers to perform arbitrary transactions off-chain while maintaining the Ethereum blockchain data. Moreover, the new protocol uses batching transactions to cut gas fees and reduce overall costs.
Polygon’s new cryptocurrency will offer permissionless transactions and be open source. This means it will be more efficient than Ethereum but will not sacrifice security or decentralization. The developers of the platform are confident in the system’s abilities. In fact, Polygon claims that it has positioned the zkEVM system as the next step in Ethereum’s evolution. The new system is also designed to facilitate scaling operations, which is critical to the company’s future growth.
Proof-of-stake process
The Proof-of-stake process is a key component of a cryptocurrency’s security model. It is a process that requires users to spend a certain amount of money for the right to use a certain crypto. This process is similar to that used in bitcoin.
Polygon’s platform is compatible with the Ethereum Virtual Machine and Solidity. This makes it a competitive rival to Cosmos. It does not require an additional security model like EVM, but it does allow for it. It also claims to be flexible enough to integrate any scalability solution. Its utility token has been designed to be compatible with other blockchains and cryptocurrencies.
Polygon is actively developing scaling solutions. It is preparing to launch several mainnets and Validum Chains and is working on Optimistic Rollups, its next major update. As blockchain technology continues to evolve, new solutions for scaling will emerge.
Partnerships
Polygon is a crypto network with an impressive scope. Its list of partners is constantly growing, and the crypto project itself is performing exceptionally well. The company behind it has a solid reputation, and the Polygon token stands out among the many Ethereum projects. Atari and Chainlink have already signed on as partners, and Coinbase is also joining the fray.
Polygon is also working hard to attract developers to its ecosystem. Its network is home to over 700 dApps and several of the most popular DeFi projects, such as KyberSwap and Pegaxy. The company is also working with universities across the globe to get more developers involved.
Polygon is looking to expand beyond gaming and finance to a broader range of industries. It has already built a dApp network with 4,000 users and has almost tripled its network size since October last year. The company hopes to eventually become the main layer-2 solution for Ethereum. It has a strong team and aggressively pursues exceptional partnership opportunities. Polygon is known for being a reliable and dependable company and it has a reputation for developing innovative solutions for Ethereum.
Price prediction
Polygon is one of the hottest crypto coins, and its recent launch has been accompanied by massive gains. In the first year alone, the price of the cryptocurrency increased by 44157.6%, with further gains anticipated for the next two years. The price of the coin is expected to hit $1.15 by 2022, with short-term targets of $0.80 and $1.08 respectively. This coin’s long-term price prediction is based on the fact that it is a promising cryptocurrency for investors. Its latest development is the Solana (SOL) blockchain platform, which addresses specific scalability issues in the crypto space.
Currently, Polygon (MATIC) is trading between $0.59 and $0.64. The price of the crypto fluctuates between these levels, and a recent Polygon price prediction suggests that the price might hit $1.5 by 2025. It is also possible that the price of the crypto will touch $2.03 in 2025, but it will probably be close to either end. This indicates that it is still quite a risky investment, and it is important to make sure that the price of the crypto is not too much higher than your risk tolerance.