Polygon blockchain project has attracted a large sum of investments and a well-known high net worth profile. Tiger, Softbank, Galaxy Digital, and Sequoia Capital India are some of the pioneering technology investors across the globe. They are now investing in polygon blockchain for three major reasons.
The polygon blockchain protocol aims to provide a suitable environment for decentralized applications to thrive. Polygon is ultra-focused on cultivating developers. The rise in developer activity is among the leading indicator of the widespread adoption of blockchain. With the rise of the crypto polygon’s popularity, new decentralized applications gained popularity well. There is over 15000+ Decentralized application including a wider range of decentralized finance (Defi) and Non-fungible token (NFTs) live on the polygon blockchain – becoming the world’s pioneering web3 developer platform. There are standalone polygon multisig wallets available now – allowing you to conveniently interact with the apps present on the polygon blockchain. Polygon blockchain’s consensus mechanism that is proof of stake is now powering some of the widely used web3 projects such as Aave, uni swap v3, marketplace such as opensea, and gaming platforms such as DraftKings. Numerous mega-enterprises such as Adobe, stripe, and others are opting for polygon blockchain as their main source of interaction with the web3 ecosystem.
Polygon blockchain’s Association with Ethereum blockchain
No blockchain protocol beats Ethereum when it comes to popularity and developer adoption. Ethereum’s market capitalization is around 148.87B. It is the second largest-crypto currency and ranks just after bitcoin. The interesting fact is that the polygon blockchain is directly linked with the Ethereum blockchain network’s scalability protocol. Crypto polygon blockchain is a technology platform that is developed and launched to connect and grow Ethereum-compatible projects. MATIC is the polygon asset token employed to transact, pay fees, govern, and protect the network. The investor can purchase MATIC tokens on centralized exchanges such as Coinbase and other decentralized exchanges. Every Ethereum user and investor can promptly transfer across the network at a fraction of the cost. To a larger extent, the polygon blockchain’s MATIC tokens are pegged to the performance of ether.
Reliable L2 solution
The crypto polygon was designed as a layer-2 or L2 scaling solution for the core Ethereum blockchain. Polygon blockchain enhances the overall blockchain’s throughput, parallelly lowering the fees across the ecosystem. Numerous developers find Ethereum’s network speed extremely slow and Ethereum’s gas fees extremely expensive. Speed and gas fees are among the biggest barrier to the widespread adoption of both Ethereum and polygon assets. Polygon blockchain makes the underlying Ethereum blockchain faster and cheaper. Users can participate in the operations by employing a polygon staking wallet.
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