POLYGON CRYPTO PRICE PREDICTION | REVIEW | NEWS

POLYGON CRYPTO PRICE PREDICTION | REVIEW | NEWS | UPDATES

POLYGON CRYPTO PRICE PREDICTION | let’s see the full review of POLYGON (MATIC) CRYPTO COIN LIVE PRICE & latest NEWS with CHART the entire new UPDATE features in 2024.

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WHAT IS POLYGON (MATIC) & HOW POLYGON WORKS

Today we are discussing the complete review and latest updated features and live price PREDICTION of POLYGON (MATIC) CRYPTO COIN with the chart in 2024 lots more about polygon.

The first well structured, easy to use platform for Ethereum scaling, and infrastructure development, as quoted by the team.

They're formerly known as Matic network. And they're essentially a, you know, like layer two solutions or infrastructure, as they say, for Ethereum.

Since we all know that a theorem is, as you know, more or less very unusable, very expensive to use, and in its current state, probably won't be the main chain for people to use as the time being.

So today, I want to share with you some of the research that I did on Polygon, and just explain what it is POLYGON (MATIC) CRYPTO and how POLYGON works.

So let's get into it. So as far as I'm concerned, a polygon has two main things that they offer.

Number 1- It's layer two chains.

Number 2- Sidechains.

So again, it's really just like a scaling mechanism above Ethereum.

So first, going into layer two chains.

Usually, when we think of layer two scalings, we think of zk rollups, optimistic roll ups, you know, etc. However, these guys offer all of those options in terms of being able to build on top of Ethereum.

So you have the option to use optimistic roll ups, see Karolis of Lydiate William, they call it as well as their own, you know, medic plasma that they already have.

So in essence, a polygon is a kind of being considered a layer two aggregator, which is very one of a kind, because most layer two solutions only offer, you know, one solution, but in this case offers any team that wants to build on their platform on any of those different types of scaling mechanisms, depending on what you want to do with your protocol.

And, you know, you're going to choose a different one. And there are a couple of positives that come along with being your chain on top of polygon.

Number 1 - You get the highest level of security.

And in this case, that's just because you're using a theory, right at the end of the day, when you're building on top of Ethereum, you're also taking from that, essentially security that Ethereum has inherently built in with it, because there are so many miners around the world money for it.

And obviously, you know, it's more or less distributed, whatever kind of defense theory it has, you're pretty much behind that same wall of defense.

So just security being on a layer two chain is definitely gonna help your protocol safe.

Number 2 - What they're good for startups, right. Obviously, you don't have to go out and build your own blockchain.

So a lot easier to just make a layer two on top of it, and just use already what exists, and very simple to use. And for the most part, if you really tailor that towards startups that want to use a blockchain within their, you know, project or what have you, but may not be customizable, because you're going to be building on top of Ethereum, there are going to be some.

And lastly, of course, for small communities, right? I mean, that's kind of the main thing of using layer 2 chain as well. You know, if you don't have enough validators to run nodes for your blockchain, or if it's just not going to be decentralized enough as if you wanted it to be, in this case, you can use that layer two option.

And now moving on to side chains, side chains are literally no kind of operating on the side of Ethereum.

So parallel, so they're not taking much of anything from Ethereum. Like they're not taking the security and not taking the validators that come along with Ethereum, they have to provide that all for themselves. But at the same time, they are still technically a part of that ecosystem. So they do get a few benefits there.

But the main benefit is that you're independent. So you can do whatever really you want. Since your blockchain, as well, as you know, it's very flexible, because of that same reason. So again, you're really just compromising on decentralization and security, because you have to provide your own security, of course, in this case, you know, getting a lot of people mining and making sure that hash power goes up.

As well, of course, as the centralization, you need to have people to act as a node on your blockchain as well, let's be more decentralized, rather than just having you and your buddies, you know, turn on their computers and start mining, it'll work for a little while until becomes very big.

And people need more of a sense of security. A good example of a side chain is actually what Matic already has, which is the Matic POS chain.

And it's funny, they actually do something similar to what comodo does, in terms of recycling bitcoins hash rate, to further, protect their blockchain, except for that Matic ease is a theory for checkpoints.

So there is a little bit more of security there as well, technically. But it's still obviously going to be the same type of security as if you're just you know, operating on avl Two.

So the main reason to use a side chain, one for enterprises, so for big businesses that want to, you know, pretty much apply their own features to their own blockchain and maybe make it private so that only they can use it internally.

Number two, no products that don't require the highest level of security. I don't know, to me, it seems kind of weird to say that. But I guess what they really mean by that is, you know, people that are willing to have that trade-off, have a lower level of security, for more independence and more flexibility of what they can do with their blockchain.

And number three products with strong communities.

So in this case, maybe a project for example, that already exists, has a lot of people involved in it, but they say maybe, Hey, why don't we make a sidechain on top of this, and make it so that you know, they can they can choose to take a little bit from the Ethereum ecosystem, but at the same time, have a lot of people you know, validating becoming miners, so it's a lot more decent than just having, like we said earlier, a couple of your buddies, throw up some miners in their computers and act as if that's a Good decentralized blockchain.

So that was the main part in terms of what polygon functions for. I know it was previously called Matic network. And from what I understand, they're just kind of porting everything over to the polygon name, just in terms of like marketing and whatnot.

And that's what we're gonna get into Now, some of polygons, competition, I think this is kind of decided to rebrand themselves and put themselves back in the limelight. because number one, we have polka dot, right, we have cosmos, and we have an avalanche. So those three are gonna be the main competitors, I think, I think polka is probably the biggest one, because you know, polka is para chains. And obviously, it's kind of the biggest, one of the biggest honestly, alternative blockchains to Ethereum right now. And people are pretty much calling polygon, like the polka dot for Ethereum, which is kind of funny, they say that we have a little graph of you know, the comparisons of the polygon to polka dots, cosmos, quorum, and all these different other things.

But essentially, you know, my the way, whenever I look at these crypto charts, I'm always like, Alright, they're always gonna make the charts to make it look like they have, these guys have nothing, when in all reality, this is just selective, and they're just putting the features that they want to put that they know they have.

They know the other projects don't. Always take these types of comparisons with a grain of salt. Because obviously, at the end of the day, I don't have any polygon, by the way, but at the same time, you know, I do, I am a fan of it. And I have a theory.

So I try to be as least biassed as possible. But you can clearly see like something like, for example, develop developer experience. I think they put that because obviously, the aim is using solidity. And a lot of people, you know, a lot of developers who have been developing a theorem.

Are you familiar with how solidity works? And honestly, it's honestly not that difficult. I mean, I was able to learn a little bit of it. I think anyone can. And of course, Ethereum compatibility looks like Cosmos already has it, but polka dot does not.

And yeah, and that's gonna be the main thing it looks like with polka dot, how polka dot doesn't have any Ethereum compatibility, or developer experience. Now, in terms of developer experience, I'm not so sure if the development on coconut is going to be like an issue, because I feel like I saw somewhere on their website.

They try to tell her to developers as well. I know a lot of blockchains kind of say that. But at the same time, I guess I can see why polygon puts that as the district.

Again, just because a lot of people have already been developing on Ethereum. And it'll probably be no problem for them to just port, whatever they have on the main chain over to L two, to be honest. And another thing I wanted to mention as well, that I think polygon has, like one of the biggest advantages of and it's pretty obvious is that they're using the existing Ethereum ecosystem, right? That's a huge benefit.

Because you know, right now polka, any of these other different projects, avalanche, what have you, they have to pretty much convinced these developers and these people to move ever to move everything we think that they've been doing from Ethereum, or even saving the by Nance marching, all of those projects, all onto their blockchain onto polka dot all into an avalanche, right? But why do that when you can easily go ahead and just maybe change a little bit of a smart contract, and just have it operate on the Alto, just like it was before? You know.

So to me, I think that's kind of the main, the big benefit that polygon has, is that they already they're pretty much already feeding this to an existing ecosystem of, you know, define different projects, because, you know, a good amount of them, I mean, a large amount of them exists on a theory.

I know a lot of them are moving to finance marching now. But that in and of itself, still is not, you know, decentralized about it, and saying that it's centralized as hell, which, you know, I definitely understand.

So, you know, I think all done in that sense. But again, I do I poke it, obviously, is taking a lot of marketing, finance at this point, but once again, it is up and running about some partnerships. So polygon actually is quite a big ecosystem. It turns out that they actually partnered with Atari.

I know they made their own token at some point, which essentially is just going to increase the scalability of the token, as well as contribute to their NFT ecosystem. I no idea Atari had like entities as we know are pretty much the biggest thing in crypto right now.

So it's no surprise there. They're also teaming up with Golem as well graph and the graph specifically, because they're going to go ahead and be able to make it easier for them to go ahead and actually code and whatnot.

POLYGON (MATIC) APP

The other part I wanted to mention was the app that was just recently built on top of a polygon called huddling.

In this case, huddling is essentially like a social media kind of reminder that Tick Tock or maybe even, you know, Instagram or whatnot, Instagram stories, but this is all built on top of Matic, our polygon. And the crazy thing is that each post is literally considered an NFT.

So if I would go ahead and take a picture right now let's say my food on this table, I'm so sorry that you see that. I go ahead and take a picture. It'll pretty much go ahead, upload ipfs To generate the entity of course, and it'll pretty much just put it up like any other social media platform.

And what this does is essentially give you full ownership. your actual creation you know in the form of an entity. So to me, this is one of the creations I've seen implementations of NFT's it's really cool to see that magic has it already built out so that you know great products like these come up and exist.

But I just give you guys again my last thoughts about polygon is –

Number 1, even if 2.0 does come out your magic will still be relevant in my opinion. This is important because a lot of layers two solutions that currently exist. I think most of them will be a little bit obsolete once is 2.0 comes Because you know Obviously To be able to scale handle, you know, as many transactions possible, and then a very cheap price? Well, you know, once that comes out, why would you use a layer two right? Well a polygon is doing is essential, yeah, they do have part of their infrastructure as the option to have layer two.

And I know there are differences between layer two and even using a very fast main net. But additionally, you can still use polygon for side chains as well.

So you know, just in case, you don't want to build your project on top of Ethereum, or using a polygon, you're still able to use a side chain, so you're able to take advantage of the very fast blazingly fast theory and ecosystem once you've to point out. And at the same time, there still will still be a purpose for you to actually use polygon, you know, so I do like that, that polygon won't be completely obsolete. 1T2.0 comes out.

Number 2- you know, this is kind of quick, because I know I mentioned it a little while ago, but the rebranding, I think part of the reason why they rebranded is simply just because they needed to compete, you know, obviously, polka dot Cosmos avalanche mentioned before, they're all in on the cosmos was, but I know polka dot and avalanche are relatively new in the space.

And MATIC had been around for a little bit as well. And they guess, you know, I'll be honest with you, they just didn't, they don't think they were like pushing as much as these other projects were, or at least gaining a lot of notoriety. So once this rebrand happened, I think that added a little bit to the marketing boost, and you know, people kind of knowing about them now.

Because they do have a good, you know, project. And they already have, again, as we just saw earlier, existing projects that work very well in them. So I do like to see that they're really focused heavy on getting the name out there, you know, whether it be Matic or polygon, I like that there. I think that approach to branding shows that they care about marketing, and they're willing to, you know, branch out and to reach new different audiences, which is awesome.

And then, of course, something else I wanted to bring up was GitHub.

So as you guys know, whenever I look into projects, I like to look at the GitHub to see what the development looks like, you know, what, what are they adding, if they're not developing one

They're doing well. polygon obviously they're getting developing quite a bit. Their GitHub falls under the name of Matic.

However, what I noticed is that you'll see that like xe was able to, I guess you can say clone a couple of repositories from different projects.

So obviously, we already know that they're working with the graph. So of course they have a subgraph repository in there.

They actually have a repository called Cosmos as well as a Polka Dot. Polka Dot with substrate and the cost was was just so Mind you, these are competitors. So what I think that they're trying to do here is they're trying to be sneaky about it because obviously, we all know GitHub is public.

Actually, I don't want to say the word competitors but units roll working in this space together to bring up credit by taking what they're using substrate you know cosmos because all what is open source of course and then the topic that i think that's what the main thing about this space is.

And that's why I kind of attracted the petition thing because it's true. I mean, I think we're all building towards the same. That's just it is hopefully going to come to someday. So I think it's really cool that they were able to do that. Just From there Nope. It hubs and it starts you I guess. I don't know.

Adding it fiddling with it. I know I think one of them didn't have anything edited on. I think polka substrate kind of did, but I thought it was really cool.

And then lastly, Of course, To end the article of my bias if you have been reading this article for a little bit and by the way, if you have thanked you so much I can't believe people actually read this article.

So it's quite clear that I have a big bias towards that theory I mean anything a theory and based so that's why I mean they get this I should have But this disclaimer in the beginning, but for the most part, you know like I will always gravitate towards things that are of the theory, part of the parsley.

I talked about me like, I do really think that they have Good potential, seeing The things that they already have built on and seeing some of the partnerships that they have but I say that because You know, it's me It's really important that you guys who are watching know that I have a bias.

So at the end of the day, it's like I'm recommending people to go out and buy a certain by that sell this or sell that. But I do.

I do realize that sometimes it may come off like that because I make an article about certain things, but I didn't clear about that. You know, I am a fan of polygon, mainly because it is built on top of Ethereum. And because they have great products already, but at the same time that doesn't take away from Atlanta, whatever these different products being really good alternatives to Ethereum.

It just may look like I'm talking a lot more about a theorem because I actually am because It just so happens that I hold a lot more theory than maybe any Evelyn. You know, that's just how it is the way the world works, and no matter what but I thought I'd just disclose it with you guys, because I don't know I don't have the I want to be transparent as much as possible but anyways With that being said, let me know what do you guys think below if there's anyone even left after that ramble? Do you guys think polygon, here's a good question.

You know finance chain is taking a huge chunk out of Polkadot first as well. All these different side chains are always done.

Do you think with the right branding and When not, if polygon will bring back market share to Ethereum before e 2.0 comes up because that's what I'm interested in knowing. I mean To me, I think epic. I'm looking at projects that build on top of it, then people moving over to it and it's easy enough to use for folders. I think so. I don't know what you got. All right, let me move on.

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POLYGON CRYPTO PRICE PREDICTION | REVIEW | NEWS | UPDATES