Polygon

<h4>2024 has been most unkind to altcoins. And even some previous bull market darlings are not immune. </h4> 
Among some of the biggest losers in the <a href="https://www.coingecko.com/en/crypto-gainers-losers?time=y1&amp;top=100" target="_blank" rel="noopener">top 100 projects</a> in the last year, we have Quant,&nbsp;Arbitrum, Cosmos, XRP, Litecoin, Aptos, and Polygon (MATIC).&nbsp; In addition, we know that more than 90% of alts NEVER reclaim their old all-time high after a bear market. 
I hope you know that. We talk about this here frequently. So it begs the question, can these blue chip projects find their footing again? And more specifically, can MATIC? Is MATIC Dead? Let’s see what we’ve found out about Polygon. 
<h5>The Agg Layer</h5> 
Layer 1 chains not named Bitcoin and Solana have taken a hit and have yet to recover in 2024 so far. Polygon is down 30% in the last year and ~25% in the last 90 days. So we are asking the question “Is MATIC Dead?” The biggest current innovation <a href="https://www.coingecko.com/en/coins/polygon" target="_blank" rel="noopener">MATIC</a> is up to is its Aggregation or Agg Layer. 
Aggregation covers one of the industry’s biggest problems: Fragmented liquidity. Crypto is bridged from ETH to some L2 and then it’s trapped there. Only apps on that L2 can use that liquidity. That means there are time and financial costs to move it from one L2 to another. So most don’t, even when they have a good reason to. 
<img decoding="async" class="wp-image-146853 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vbcvbnhhgj-265x300.png" alt="" width="468" height="530" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vbcvbnhhgj-265x300.png 265w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vbcvbnhhgj-371x420.png 371w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vbcvbnhhgj.png 390w" sizes="(max-width: 468px) 100vw, 468px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/0xPolygon/status/1812930703895499201" target="_blank" rel="noopener">X</a></h6> 
The Agg Layer is like a cross-chain communication and gas-paying system. That means that Optimism users will be able to share their liquidity with Arbitrum dApps. And vice versa. This alone would be a huge benefit. But it does more than that. 
Developers can use it to onboard more users. Appchains often do better with onboarding than most. They and other consumer chains see the most benefit from using Agg Layer. Build it once and deploy it across many chains. Plus, there is no bridging or wrapping of tokens involved. Both users and developers like that. 
<img decoding="async" class="wp-image-146855 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvccvbvbnbnvbnhg-300x284.png" alt="" width="483" height="457" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvccvbvbnbnvbnhg-300x284.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvccvbvbnbnvbnhg.png 401w" sizes="(max-width: 483px) 100vw, 483px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/0xPolygon/status/1812930705833312400" target="_blank" rel="noopener">X</a></h6> 
That’s one less risk. This clip does a great job of explaining the benefits for developers. They can concentrate on their protocol and worry less about airdrops liquidity mining and other things to power up a marketplace for their app. The liquidity will already be there if users like what you built. Oh yeah, and <a href="https://www.altcoinbuzz.io/?s=gas+fees" target="_blank" rel="noopener">gas fees</a> are cheaper for everyone too. 
Have you used the Agg Layer yet? If so, let us know in the comments below. 
<h5>zkEVM</h5> 
Polygon also has <a href="https://polygon.technology/polygon-zkevm" target="_blank" rel="noopener">zkEVM</a>. Polygon takes scaling for EVM chains to a new level. First, it adds zero-knowledge proofs. We mention these a lot as they are common now on Ethereum Layer 2 solutions. They help in 2 areas: Privacy &amp; scaling. The privacy argument is pretty clear. If the sender and the receiver of a transaction are unknown because they are hidden by ZK tech, then that is inherently more private. 
<img decoding="async" class="wp-image-146858 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxxvcfdfdg-242x300.jpg" alt="" width="453" height="562" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxxvcfdfdg-242x300.jpg 242w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxxvcfdfdg-339x420.jpg 339w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxxvcfdfdg.jpg 390w" sizes="(max-width: 453px) 100vw, 453px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/Crypto_Texan/status/1629249987371577349" target="_blank" rel="noopener">X</a></h6> 
But the scaling argument is important too. Zk tech allows the faster, cheaper, and still private bundling of transactions together. This means faster confirmation times when using Ethereum. A zkEVM chain processes thousands more transactions per second than Ethereum does. And that’s how it helps Ethereum scale. 
Here is the great thing. zkEVM is already compatible with EVM chains and apps. They don’t have to do anything&nbsp; All Ethereum smart contracts are already compatible with zkEVM. You just need to sign up and get started. The use cases for Polygon zkEVM are many, as you can see here. But a couple of the more <a href="https://assets.website-files.com/637359c81e22b715cec245ad/641bec5acda8704792f389e3_Polygon%20zkEVM%20Product%20Overview%20Deck.pdf" target="_blank" rel="noopener">interesting ones</a> are: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Games for speed and security</li> 
 <li style="font-weight: 400;" aria-level="1">TradFi is also for speed and security since it inherits Ethereum security</li> 
 <li style="font-weight: 400;" aria-level="1">Healthcare for speed and privacy to enable the sharing of digital health records.</li> 
</ul> 
<img decoding="async" class="wp-image-146856 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxcxvvcbvbc-300x298.jpg" alt="" width="486" height="483" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxcxvvcbvbc-300x298.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxcxvvcbvbc-150x150.jpg 150w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxcxvvcbvbc.jpg 396w" sizes="(max-width: 486px) 100vw, 486px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/0xPolygonFdn/status/1617634981031088131" target="_blank" rel="noopener">X</a></h6> 
Although you hear about zkEVM less than some other Layer 2 protocols, it’s one of the fastest growing. Games and DeFi in particular are coming to rely on it when they want to be a part of EVM but need better functionality for their projects. 
<h5>POL Token</h5> 
Now let’s take a look at something we have not talked much about lately. The conversion of the MATIC token to <a href="https://www.coingecko.com/en/coins/polygon-ecosystem-token" target="_blank" rel="noopener">POL</a>. On September 4th, POL will replace MATIC as the native token for the Polygon PoS blockchain. 
MATIC is mostly the gas, staking, and governance token now. But POL will have more utility. Along with being the native token for staking and to pay gas, with POL you can use it on the Agg Layer and in zkEVM. Developers will like the option of <a href="https://polygon.technology/blog/polygon-2-0-tokenomics" target="_blank" rel="noopener">using POL in zkEVM</a> if they do not have or do not plan to launch their token. 
<img decoding="async" class="wp-image-146861 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vdsvssvd-248x300.jpg" alt="" width="466" height="564" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vdsvssvd-248x300.jpg 248w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vdsvssvd-347x420.jpg 347w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vdsvssvd.jpg 391w" sizes="(max-width: 466px) 100vw, 466px"> 
<h6 style="text-align: center;">Source: <a href="https://x.com/0xPolygonFdn/status/1813846238455873964" target="_blank" rel="noopener">X</a></h6> 
The token swap will be 1:1 for everyone and no changes in tokenomics. This move will make it easier to share in protocol rewards. And not only from the Polygon PoS chain. From zkEVM and Miden or Cloud CDK use. 
As I said, the token will be more versatile and more valuable. We haven’t even mentioned Miden and <a href="https://polygon.technology/polygon-cdk#" target="_blank" rel="noopener">Polygon’s popular CDK</a> (Cloud Development Kit) for appchains yet. Polygon is innovating in many ways and is very clearly NOT dead. 
It’s not even close. If you have or are considering Polygon as part of your long-term portfolio, then see these current prices as what they are. A gift to get this great project at a discount. 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a> 
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<h6>Disclaimer</h6> 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. 
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Is Polygon (MATIC) Dead?

Altcoin Buzz

Andre artikler udgivet 29. jul. 2024

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