Skip to main content

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.

FaucetPay &  My Top Picks of their linked 
Honeygain - Passive earner that pays in BTC or PayPal
BetFury - Stack BFG for daily dividends - Play smart!
Pipeflare - Faucet that pays in ZCash and Doge, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS
Cointiply - The #1 Crypto Earning Site                                       LiteCoinPay - The #1 FaucetPay earner for Litecoin                               Upland - Collect Digital Properties & Test Your Skills                            Publish0X - Earn Money By Writing and Reading Articles!                       LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!

FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon

British financial regulator criticizes cooperation between Binance and Paysafe

  The British financial regulator FCA has expressed concerns about the partnership between market-leading crypto exchange Binance and payment service provider Paysafe. As the British regulator complains, the partnership gives Binance access to the influential British payment network Faster Payments Service (FPS), from which the crypto exchange was previously cut off. Last June, the FCA ordered Binance to stop all business activities in Great Britain. As a result, prominent banks such as Barclays have terminated their cooperation with the leading crypto trading platform . Through the cooperation with Paysafe, Binance can now again offer deposits in British pounds sterling and transactions within the European Payments Area (SEPA). However, this fact is a thorn in the side of the FCA, as it classifies the crypto exchange as a “considerable risk factor”. However, the financial regulator sees little room for maneuver to counteract this, as the Financial Times reports . “ Paysafe understands