04/26/2022
Polygon is an Ethereum-based sidechain.
Polygon is setting a user-friendly environment.
Polygon is now going green in 2022.
Polygon, the Ethereum-based sidechain scaling solution, and its token MATIC, are grabbing a lot of attention lately. One might also say, respectfully earned attention, as Polygon is still surprising its investors with more positive news.
As it offers the possibility to bring any Ethereum compatible application to the polygon network with fees that are as low as a couple of pennies, Polygon keeps on stealing the spotlight from major cryptocurrencies such as Ethereum itself.
This makes polygon a more user friendly choice for crypto enthusiasts who can’t afford to pay higher fees. Yet, this is the only feature that makes this cryptocurrency a case to study.
Lark Davis described Polygon in one of his “Crypto Explained” videos:
Polygon is not just a sidechain, oh it’s much much more than that. In fact, they have some of the premier scaling solutions that they are working on for the entire cryptocurrency industry.
It should also be noted that Davis once posted a tweet reminding everyone about the full potential of Polygon.
Just a little reminder that $matic is way more than just a sidechain for ! It is a full suite of scaling products! pic.twitter.com/E8trknXAoh
— Lark Davis () April 21, 2022
Davis talked about how the projects proposed by Polygon will provide all the great services of the blockchain world at “human affordable” fees.
One thing that pushes Polygon up is the two primary use cases of its token, MATIC. The first one is to allow users to use the network even with a small amount of MATIC. The second use case is for staking, which gives investors a chance to earn rewards.
Another thing to look into is the “Burn Matic” function, the latest upgrade of the network. This function keeps a limited amount of the token in the market, as Matic gets burnt on a regular basis.
Since numbers talk louder in the crypto world, MATIC is priced at around $1.35 and ranked #17 on CoinMarketCap with a Market Cap of $10,560,151,598 and a 24-hour trading volume of $656,298,844 USD.
Polygon is also growing in the NFTs scene as it is offering the possibility to do all NFTs related activities under low fees and in connection with OpenSea, one of the most major NFTs marketplace.
What’s more, Polygon has already announced it going green or “carbon neutral” during 2022, along with over 10K major decentralized applications working on polygon now.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
