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WILL POLYGON (MATIC) STILL BE NECESSARY AFTER ETHEREUM 2.0 IS LIVE?



Aggregation about the long-awaited Ethereum update has been circulating in the crypto community for a while. Phase 0 started in December 2020. Phase 1 and 1.5 are planned for 2021. The final release and full phase 2 will be finalized sometime in late 2021 or 2022.

Trending Coin Polygon (MATIC)

With the release expected for 2021, the integration of the PoS Shard Chains will begin. How does the start of these upgrades affect the tokens, especially Polygon (MATIC)?

Polygon is a Layer-2 (L2) scaling solution designed to improve the adoption of the Ethereum blockchain. It has successfully addressed the rising issues with ETH adoption such as network congestion, slow transaction speeds, and low throughput. This has often resulted in high transaction fees (gas fees) for users. As per CoinGecko confirmed, the coin ranks # 1 in the top 30 trending coins.

Will Polygon (MATIC) still be necessary when ETH 2.0 is live?

Will Polygon still be necessary after ETH 2.0 is live? This was one of the topics of discussion in a recent Unchained podcast. Jaynti Kanani, Co-Founder, and CEO of Polygon made a clear statement.

ETH currently supports around 1.5 million transactions/day, while Polygon can confirm around 7 million transactions/day. With increasing demand and scalability around the upcoming upgrade, the number of transactions will skyrocket.

Kanani added:

I am 100% sure that in a few weeks, ETH 2.0 will be overwhelmed with the demand.

Ethereum 2.0 should become 64 times more scalable

Matic has had a lot of success lately, and the price hike is particularly convincing. Mark Cuban invested a significant undisclosed amount after MATIC's price rose 9000% this year.

Future plans of Polygon (MATIC)

Regarding the network's upcoming updates, Kanani stated:

We do optimistic rollups, zk rollups, data availability chains, Polkadot-like substrates, standalone chains, where teams can come and create their own parachains, like with Ethereum.

These statements clearly show that the Polygon (MATIC) team will not be deterred by the Ethereum 2.0 upgrade and would like to continue playing. Even if Ethereum 2.0 won't have any problems, Polygon (MATIC) has a raison d'être.

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