Matic – the choice of billionaires layer2 is in the spotlight

Billionaire investor Mark Cuban has invested in Polygon, an ethereum Layer2 scaling solution.

Cuban confirmed the investment in an email to CoinDesk, but did not disclose the size or composition of the investment. According to Messari, the price of Polygon’s local token, MATIC, has risen more than 9535 percent so far this year. As decentralized finance (DeFi) and other projects go live on Polygon, users are increasingly turning to the platform to escape the high transaction fees of the main ethereum network. cuban also said he is integrating it into a Cuban portfolio company called Lazy.com, which allows people to easily showcase NFT. on cuban’s website on Tuesday, the Polygon is listed as one of his assets:

Matic - the choice of billionaires layer2 is in the spotlight

Polygon envisions an open, borderless world.

Polygon, also known as The Matic Network, is a platform designed specifically for ethereum scaling and infrastructure development. The layer2 scaling solution, backed by Coinan and Coinbase, is already being used by many projects such as Aavegotchi, Cometh, Neon District and Arkane Network, and will also be supported by Orbiter for cross-rollups transfers in Layer 2.

Polygon is a protocol built to connect to Ether-compatible blockchain networks. It is not the new Ether. Polygon is a project that attempts to solve the problems inherent in the current Ether ecosystem by providing higher throughput and handling high gas fees.

Essentially, Polygon attempts to combine the benefits of Ether and other blockchains into one solution while adding a better user experience.

A major focus of Polygon is to reduce gas fees and increase transaction speed. all transaction fees on the Polygon sidechain are paid in MATIC tokens (the transaction code remains MATIC for now), which is significantly lower than the tokens on Ether. The protocol has already achieved 7,000 transactions per second (TPS) on a single sidechain of the internal test network, which is much faster than the 14 TPS that Ether is capable of achieving.

The first and most successful project released on Polygon is Aavegotchi, a DeFi-based digital collectible game that aims to be the most innovative DeFi and NFT application available. Furthermore, Aavegotchi is not viable on Ether because the high gas fees make the game unplayable.

Matic - the choice of billionaires layer2 is in the spotlight

While Polygon’s core goal is to reduce gas fees and increase transaction speed, there are actually many potential use cases for Polygon. Integrating MATIC token payments into decentralized applications is simple and is clearly a useful tool for developers of decentralized exchanges (DEX) to provide fast and cheap transactions for their customers.

Uniswap is one of the best DEXs out there, but still has issues with speed and high gas fees, with some transactions costing up to $50. This isn’t a problem when you’re moving a lot of tokens, but it’s a hard pill to swallow when you just want to buy new gear for a character in the virtual world or use the Aavegotchi dapp.

Matic - the choice of billionaires layer2 is in the spotlight

Ether is the blockchain development platform of choice, but it has some limitations such as low throughput, poor user experience in terms of gas fees, and delayed end results. As a result, many projects are exploring blockchains compatible with Ether as a way to mitigate these limitations but also leverage Ether’s thriving ecosystem. However, there is no dedicated framework for building such blockchains, nor is there a protocol to connect them.

Enter Polygon
Polygon, a protocol and framework for building and connecting to Ether-compatible blockchain networks, solves these problems. It can provide developers with a range of benefits, such as:

One-click deployment of pre-built blockchain networks

A growing number of modules for developing custom networks

Interoperability protocols for exchanging messages with ethereum and other blockchains

Modularity and optional “security as a service”

Adapter modules for interoperability of existing blockchain networks

Overall, for developers, Polygon can translate the best of Ether and Sovereign Blockchain into an engaging set of features built by developers.

Matic - the choice of billionaires layer2 is in the spotlight

Technologies
Polygon can provide scalable, secure and instant transactions using a sidechain based on an adaptive implementation of the Plasma framework for security and a decentralized network of PoS validators. In human language, Polygon allows anyone to create scalable dapps while ensuring a better user experience in a secure and decentralized manner.

The Polygon solution means that any project can have a dedicated, optimized iteration of Ether that combines the best features of a standalone blockchain, such as sovereignty, scalability and flexibility, with the security, interoperability, and developer experience and support of Ether. In addition, Polygon supports two Ethernet-compatible blockchains. The first is a standalone network, and the second is a network that leverages security as a service.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/matic-the-choice-of-billionaires-layer2-is-in-the-spotlight/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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