Author: Victor

Polygon’s MATIC coin is classified as a small-cap enterprise, with a market valuation of approximately $15.7 billion. The scalable solution, on the other hand, makes up for its size in integrations and widespread acceptance. In October, Polygon’s utilization grew by 145% month over month, with 61% more development teams using the layer-two protocol than in September. Polygon is used natively by 62% of all projects, compared to Ethereum and Polygon being used concurrently by 38%. That over 3,000 dApps have debuted on Polygon since last October only serves to bolster the argument. The Polygon SDK, a modular and adaptable framework…

Read More

MonoX, an AMM on the Ethereum and Polygon blockchains, has announced the formal launch of its mainnet platform, giving investors access to full swap and liquidity features. With the launch of this new service, Mono X aims to provide a premium and open framework for liquidity providers looking to launch their projects on the market, as well as traders looking to engage in token swap services. Following the official release, the following liquidity pools will be in place at the time of launch: WBTC and Wrapped Ether are among the assets available on Ethereum, whereas Polygon has assets like Polygon…

Read More

Unnamed sources say that IPL fan tokens are in the works and will likely be powered by Polygon. Co-founder and Polygon COO Sandeep Nailwal has also alluded to such a development in the company’s public statements, he remarked “Polygon will have some exciting developments coming public shortly with relation to Indian sports.” The IPL fan tokens will be fungible, not non-fungible tokens. Users may purchase these fungible tokens in the same way as Bitcoin, Matic, or Ethereum. With these tokens in their hands, Nailwal believes opportunities will be abundant for fans to make use of the value that has been…

Read More

According to Flipside Crypto, the Polygon Network was subjected to a spam assault after a well-built arbitrage bot converted 14 ETH to 218.5 ETH in less than four months. With the spam costs deducted, the average profit per day was $6,800. Attacks on the Polygon Network started in early May, and by June, daily transaction volume had risen to 8 million. The Ethereum network’s highest transaction volume was 1.2 million over the same period. According to data from the Polygon forum, to make matters worse, despite spamming every block with “meaningless transactions,” the attacker only paid 0.02 MATIC for the…

Read More

According to a new study published on Wednesday by blockchain development platform Alchemy, the number of applications on Polygon’s self-described Ethereum layer 2 is rapidly rising and the ecosystem is gradually becoming autonomous from projects on the Ethereum ecosystem. Since last year, the number of apps on the chain has increased from 30 to over 3,000. Alchemy has also observed a 61% rise in the number of teams constructing the chain month after month. According to Alchemy product manager Mike Garland, Polygon is expanding “two times faster than Ethereum did at this stage in its lifetime.” While Polygon is frequently…

Read More

On October 17, Polygon Network’s total number of unique addresses surpassed 100 million for the first time. The full-stack scaling solution network has grown at an exponential rate from June 2021’s commencement, and this marks a significant increase. There are now 100,720,280 distinct addresses in existence. The network has achieved several significant milestones in the previous months. A few weeks ago, the total number of daily active addresses surpassed the total in Ethereum. Polygon’s scaling solutions have rapidly made it a cornerstone of the cryptocurrency industry, with over 351,000 daily active addresses at that point. Because of its solutions, Polygon…

Read More

Upbit, South Korea’s biggest crypto exchange, now offers the Polygon token MATIC for trade. Upbit processes over $7 billion in transactions every day. Customers from Korea may now deposit 10 MATIC and trade MATIC on the exchange. Because of the announcement, Polygon’s MATIC token soared by 25%, reaching a new local high of $1.60 per token. Besides MATIC, two additional cryptocurrencies are now available for trade on Upbit; Solana and NuCypher. A small 5.8% rise in the price of Solana’s SOL token has been recorded since its listing, whereas NuCypher’s price has gone from $0.29 to $2.61, a gain of 678…

Read More

Outlier Ventures is growing the Web3 industry’s biggest multi-chain ecosystem of startups, investors, and experts. To follow up on the success of the Polkadot (DOT/USD) and Filecoin (FIL/USD) Base Camp accelerators, Outlier is currently accepting applications for its third ecosystem cohort: the Polygon x Base Camp Accelerator. In 2021, the Polygon (MATIC/USD) ecosystem arose as a central node for scaling Ethereum-based applications (ETH/USD). The ecosystem has a value of over $10 billion. The initiative seeks to assist creators with the creation and deployment of new tokens, fundraising efforts, community expansion, governance, and new business model development. The accelerator will also…

Read More

Ethereum bridges have a total value of over $15 billion. As Layer-1 and Layer-2 scaling systems are vying for supremacy on the Ethereum network, Polygon takes the lead. Polygon Network, a layer-2 solution that connects Ethereum to other blockchains, has suggested that validators increase transaction fees to combat the current increase in spam transactions. A 2900 % increase in fees has reduced Polygon’s daily average transaction volume by half to 3 million but, the company has maintained its lead over Arbitrum and Optimism in terms of total Ethereum bridge value despite the drop. According to data from crypto analytics company Dune…

Read More

Over the past several days, Polygon Network’s average daily transaction count has fallen by half. On Oct. 3, there were about six million transactions, but on Oct. 11, there were just three million transactions. The sharp rise in gas costs recently seems to be linked to the sharp decrease in network activity. Sandeep Nailwal, the co-founder of Polygon, suggested increasing the network’s transaction fees from 1 gwei to 30 gwei to reduce spam transactions on the blockchain. Some criticized the “decentralized” nature of the network in the community because of the change. Increasing transaction costs is intended to make spam…

Read More