March 6, 2023
Tron (TRX)
Tron is a proof of stake cryptocurrency that has been built on the Tron blockchain network.
Bright Ideas: Polygon (MATIC)
Polygon was founded as a scaling solution for Ethereum and aims to be Ethereum’s internet of blockchains.
Price:
$0.7998
Mkt Cap:
$7,206,199,938
View Coin Page
Project Fundamentals
- Polygon (MATIC) is a layer 2 scaling solution for different Ethereum blockchains which involves various dentralised applications
- Polygon acts as an extra layer to the Ethereum blockchain adding security and efficiency
- It was designed to minimize transaction fees and increase the speed or transaction processing
- It aggregates several Ethereum-based blockchains and enables them to communicate with each other
- As of December 2021, there is a circulating supply of 6.9 billion MATIC coins and a total supply of 10 billion coins.
Partnerships / Implementation
- There are more than 3,000 DApps that can be found on Polygon PoS.
- Ernst & Young (EY) has partnered with Polygon to develop Ethereum scaling solutions for businesses.
- As part of the collaboration EY and Polygon will develop Polygon Nightfall, which is a public and privacy-focused Rollup.
- The Ethereum scaling solution aim to minimize transaction costs and enable a wider adoption.
Roadmap and Announcements
- The core development Polygon is rolling out a test implementation of Ethereum Improvement Proposal 1559, aiming to implement burning of MATIC token and improved fees.
- The London fork, EIP-1559 was launched on the Ethereum mainnet of the 5th of August 2021 and was one of the most significant modifications in its history.
- The transactions base fee will be included along with a priority fee to speed up processing and fluctuates depending on demand and is then burned.
- In July Polygon became one of six company’s selected to participate in Disney’s 2022 Accelerator Program.
- Following the 15th of September Ethereum Merge Polygon dramatically reduced their carbon footprint.
- In September 2022, Robinhood launched its non-custodial crypto wallet on Polygon.
- In October 2022, Matic significantly outperformed the broader market rising 18%.
- In October 2022, JP Morgan conducted its first live trade on a public blockchain using Polygon.
- Recent volatility in price action has been primarily caused by external events, with Matic still outperforming broader marker over last 30-60 days.
Technical Analysis
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Polygon (MATIC)
Polygon was founded as a scaling solution for Ethereum and aims to be Ethereum’s internet of blockchains.
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Fantom (FTM)
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Polygon (MATIC)
Polygon was founded as a scaling solution for Ethereum and aims to be Ethereum’s internet of blockchains.
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Cosmos (ATOM)
Cosmos is an interoperability platform operating as a “decentralised network of independent parallel blockchains"
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Bitcoin (BTC)
Bitcoin is synonymous with cryptocurrency itself and has always been the largest by market capitalisation.
