Ethereum is the blockchain development platform of choice, but it has limitations such as low throughput, poor UX, and no sovereignty. As a protocol and a framework for building and connecting Ethereum-compatible blockchain networks, Polygon breaks through these limitations by aggregating scalable solutions on Ethereum and supporting a multi-chain Ethereum ecosystem.
Polygon Outperforms Ethereum In-terms Of Active Users
As a layer 2 solutions aggregator built on top of Ethereum, Polygon has made some great achievements since its birth, its POS chain has over 2000 DApps live and processes over 7 million transactions daily. In fact, Polygon now has more daily active users than Ethereum.
MATIC, the token for the polygon network, is already live on trading platforms like LBank Exchange, and currently the trading volume of it is over 1 billion across exchanges. Polygon team is aiming to make more people hold MATIC tokens, and it’s hoping to see MATIC’s trading volume on LBank Exchange continue to grow as well.
Expanding the Polygon ecosystem
With the power to bring thousands of new users into blockchain, NFT and Gaming markets are strategic sectors that Polygon continues to focus on. There are already some of the largest gaming projects live on Polygon, such as Decentral Games, Sandbox, Somnium Space, Vulcan Verse, etc. As for NFT projects, there are OpenSea, Lazy.com, Autograph, etc.
The team will be bringing many more such games and NFT projects onto Polygon so that its community can enjoy more artwork and fun. In addition, Polygon allows for massive scalability, and compared to Ethereum, minting costs on Polygon are 100,000 times cheaper on average.
Polygon also has products designed for enterprise customers who need privacy and scalability, such as Nightfall, a one-of-a-kind, privacy-focused Rollup that combines Optimistic Rollups with Zero-Knowledge (ZK) cryptography commonly used in ZK Rollups. It creates a scalable and private hybrid of the two popular technologies.
Polygon Nightfall has the power to bring many large enterprises into blockchain, the team believes that it will lead to a large number of transactions on Polygon and further add new projects and users to the Polygon ecosystem.
Big Plans Ahead
The Polygon team has already got some big plans ahead. On the technical side, Polygon is investing heavily into ZK and ZK Rollup technology, for example, the team has already spent $250 million on acquiring Hermez, which is a decentralized, open-source ZK Rollup optimized for secure, low-cost and usable token transfers on the wings of Ethereum.
Polygon has also acquired another 4 teams to build more ZK Rollup chains, to achieve the goal of building highly scalable EVM enabled ZK Rollup technology. In addition, Polygon has updates coming for its POS chain and details on EIP 1559 implementation.
On the business side, Polygon has many exciting updates as well, with lots of big DApps and integrations planned. Significantly, Arjun, Polygon’s Head of Growth, points out that LBank is enhancing its global branding. He also assures that the love of the community makes the team achieve its goals, so it will continue to collaborate with LBank Exchange to bring more Polygon projects and tokens to the community. Polygon team will keep posting on its official social media accounts such as Twitter to reveal more details about future plans and latest updates.
Polygon is a layer 2 aggregating scalable solution on Ethereum that supports a multi-chain Ethereum ecosystem. The platform resolves the blockchain challenges like high gas fees, slow speed without sacrificing security. It is a protocol and framework to build and connect Ethereum-compatible blockchains.
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LBank is an ever-growing crypto trading platform which offers safe trading for the users worldwide. The team aspires to build the professional integration services for crypto-assets being a convenient trading platform. It has become popular with over 6.4 million users around the world.
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