MATIC, after rebranding, signed too many unique projects and races with ETH about scaling.
Every now and somehow managed to spot a cryptocurrency gem long before it really takes off. MATIC is one example of such a gem in less than two months. It’s gone up more than 10x. I predicted back in January that MATIC would take center stage as Ethereum layer-2 scaling solutions were explored, and that prediction seems to have come true. What I didn’t predict, however, was that the project would rebrand to Polygon to reflect its new direction of development. I also didn’t anticipate just how quickly Polygon’s ecosystem would grow in just a few short weeks.
I’ll have you know that it’s quite rare for me to cover the same old coin twice with him for two months. So, this should give you an idea of just how much potential I think Polygon and the MATIC token still have. Today, I’m going to explain what Polygon is and what it could mean for the MATIC token.
This content created by converting from Coin Bureau’s “Polygon (MATIC): Could It WIN The ETH Scaling Race?” video after asking for sharing permissions. You may reach the original video via the link.
MATIC Network Recap
If you missed my previous publishing about MATIC, here is the TLDR. MATIC network was founded in 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.
All three are seasoned software developers, and Jaynti is one of the architects of a more viable Plasma and improved version of the Plasma Scaling Solution for Ethereum originally proposed by Ethereum founder Vitalik Buterin 2017.
Without getting into the weeds more viable Plasma works by creating copies of the Ethereum blockchain called child chains, which periodically submit snapshots of their states to the parent chain.
This parent chain is of course Ethereum, but the MATIC network was designed to be blockchain agnostic, meaning any other blockchain can serve as the parent chain. In addition, MATIC Network incorporates the second blockchain in its architecture which submits snapshots of the MATIC’s plasma chain to the Ethereum blockchain. Read More…
Categories: CRYPTO PROJECTS