HI, guys and gals.
Let’s talk about Polygon today, it is one of the hotter ecologies that have emerged recently. Let’s see what kind of project Polygon is and whether we should participate in its ecology as early as possible.
The original name of the Polygon project was matic-network, and the team has upgraded matic network to Polygon in February in order to expand the mission and technical scope of the project.
Polygon has inter-chain communication protocols like polka, so with Polygon, Ether will become a full-fledged multi-chain system.
Previously, many heavy hitters from Ether and other public chains have joined Polygon as advisors, including Jameson of the Hudson Ether Foundation, Ryan Sean Adams, founder of Bankless, Anthony Sassano of Ether, and others.
Polygon (Matic) is the first well-structured, easy-to-use platform for Ether scaling and infrastructure development.
The core component of Polygon is the Polygon SDK, a modular, flexible framework that supports building and connecting secure chains such as Plasma, Optimistic Rollups, zkRollups, Validium, and others, as well as standalone chains such as the Matic POS chain, designed for flexibility and independence.
Polygon’s layer2 chain has been widely adopted, with over 90 DAPPs, approximately 7 million on-chain transactions and 200,000 unique address users.
The solutions used for its layer2 chain are Secure Chain and Independent Chain, Secure Chain (also known as Layer2 Chain): an extended solution that relies on Ether for security rather than building its own pool of validators.
In addition to supporting the current Plasma, Polygon will also support other major Layer2 solutions such as Optimistic Rollups, ZKRollups, Validium, etc., essentially becoming a “Layer2 aggregator”.
Independent chains, on the other hand, are usually independently responsible for their own security, i.e., they have their own pool of authentication nodes.
Independent chains offer the highest level of independence and flexibility, while weighing the typically lower level of decentralization and security.
The architecture of these chains can be adjusted to ensure that they inherit at least the security of Ether. A good example of this architecture is the previously mentioned Matic POS chain, which uses Ether for verification and periodic settlement.
We all know that Polka is the representative of this, then Polygon has the advantage that Polygon is built on the Ethernet network and supports sharing the security of the Ethernet network.
Moreover, Polygon supports chain-to-chain access and connects to the Ethernet network. This represents the transformation that will help Ethernet to become a more mature multi-chain system.
It must be mentioned that one of Polygon’s core components, Polygon SDK, is a modular and flexible framework that allows developers as well as organizations to build projects as simple as building blocks to create their own personalized Dapp.
Polygon will save development time and reduce costs in this step, yet use the security provided by Ether, as exemplified by the Matic POS chain, which uses Ether for verification and cycle settlement.
People will definitely be concerned about its transaction experience. Since it is one of the solutions to the Ether problem now, and the ecology has so many users entering now, the transaction experience must not be bad.
Polygon now has a far higher throughput of 7200+ than Ether network, with an average confirmation time of about 2 seconds and GAS fee less than 1/1000 of Ether.
Does it have any impact on TOKEN?
Actually, the existing Matic solutions and implementations, mainly the Matic PoS chain and the Matic Plasma chain, remain fully functional and will continue to be developed and evolved as an important part of the Polygon ecosystem.
Therefore, this new solution is only an extension of the platform component and its original token (MATIC) will remain intact and continue to exist.
The Polygon ecosystem is now taking shape, with the Polygon (MATIC) ecosystem TVL now exceeding $500 million and its ecosystem including games, DEFI, NFT and more.
On Polygon, as Dapps such as Aavegotchi, Neon District, Megacryptopolis, and ZedRun continue to grow, so does the NFT ecosystem on which they depend.
As a result, the need for a more complete NFT infrastructure that allows that infrastructure to support high-growth games and other projects has become even stronger.
Let’s look specifically at what the major projects are.
NFT and Gaming
Cent: NFT-enabled platform for tweets built and running on Polygon, used by both Twitter CEO Jack Dorsey and Elon Musk to conduct NFT tweet auctions, both for over a million dollars.
OpenSea: the leading NFT decentralized trading platform
Aavegotchi: Aave eco-NFT game
Decentraland (MANA): just recently launched the gray trust, combined with NFT’s leading game field
Terra Virtua: “Lost in Space”, “The Godfather” and other IPs have been licensed
Decentral Games: a virtual reality game platform based on Decentraland
ZED RUN: a digital horse breeding game powered by blockchain
Aave: Polygon’s main online Aave marketplace has exceeded $650 million
Quickswap: the largest DEX on Polygon with over $120 million in liquidity and a peak 24-hour trading volume of over $35 million
Sushi: Delighted that Sushi has been deployed on Polygon
EasyFi: Layer2 layer DeFi lending protocol based on Polygon
Polymarket: A well-known prediction marketplace.
ChainGold Analyst View
As you can see there are many well-known NFT projects on Polygon, mainly thanks to Polygon’s strong support for NFT innovation.
Some of the top NFT protocols and projects are deployed on Polygon to take advantage of Polygon’s low miner fees and near-instant transactions.
I think NFT is definitely a hot spot that continues to move higher in the second half of the year, and Polygon powered NFT projects are attracting attention from mainstream groups.
Jack Dorsey (CEO of Twitter) and elon musk, for example, are auctioning off their tweets as NFTs on the Polygon powered platform Cent.
Therefore, Polygon that can sustain attention and investment should have a bigger ecological explosion in the second half of the year, which is one of the main reasons why our chain gold team focuses on Polygon (MATIC).
We will continue to discover more hot projects of this ecology and launch a series of investment research reports, so please stay tuned.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/what-makes-polygon-rise-to-the-top/
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