LBank Exchange held an AMA session with the Polygon team discussing Polygon’s achievements, collaborations, NFT and Gaming markets, Nightfall solution, future plans and so on. Here’s the summary of this AMA.
Dubai, United Arab Emirates–(Newsfile Corp. – November 5, 2021) – Ethereum is the most popular blockchain development platform, although it has drawbacks such as limited throughput, poor user experience, and lack of authority. Polygon, as a protocol and framework for creating and linking Ethereum-compatible blockchain networks, overcomes these barriers by aggregating scalable Ethereum solutions and providing a multi-chain Ethereum ecosystem.
Polygon Exceeds Ethereum’s Active Users
Polygon is a layer 2 aggregating solution which is built on top of Ethereum, and has accomplished great achievements since its inception. Moreover, its POS chain now hosts over 2000 DApps and handles more than 7 million transactions per day. As a matter of fact, Polygon now drives more active users on a daily basis than Ethereum.
Significantly, MATIC, the native-token of the Polygon Network is already available on trading platforms such as LBank Exchange with a current trading volume of over $1 billion. The Polygon team wants to see more individuals possess MATIC tokens, and it also wants to see MATIC’s trading volume on LBank Exchange expand.
Enhancement Of Polygon Network
The team is very focused on implementing NFTs and gaming projects on Polygon to offer users more artwork and fun. Since the network has the potential to attract thousands of new users into blockchain, they consider NFT and gaming marketplaces as the crucial sector to focus on. Some of the most well-known gaming projects, including Decentral Games, Sandbox, Somnium Space, Vulcan Verse, and others, are already live on Polygon. OpenSea, Lazy.com, Autograph, and other NFT initiatives are examples.
Consequently, Polygon also provides for huge scalability, as minting costs on Polygon are 100,000 lower on average than Ethereum. Polygon also has products geared for enterprise customers who want privacy and scalability, such as Nightfall, a one-of-a-kind, privacy-focused Rollup that blends Optimistic Rollups with Zero-Knowledge (ZK) cryptography frequently utilized in ZK Rollups. It combines the two prominent technologies into a scalable and private hybrid.
In addition, the team anticipates that Polygon Nightfall will lead a significant number of transactions as it has the potential to attract huge corporations onto the blockchain. Besides, the team believes that it will also bring new projects and users to the Polygon ecosystem.
Future Holds Big Plans
The Polygon team has some huge ambitions in the works. Polygon is significantly investing in ZK and ZK Rollup technologies on the technical side; for instance, the team has indeed spent $250 million on acquiring Hermez, a decentralized, open-source blockchain platform.
Polygon has also purchased four more teams to help them develop more ZK Rollup chains. Additionally, the goal of the team is to create highly scalable EVM-enabled ZK Rollup technology. Polygon will also be releasing updates to their POS chain as well as information on the deployment of EIP 1559.
Polygon’s Head of Growth, Arjun has shared some exciting updates on the commercial side which includes plans on DApps integrations as well. Significantly, he points out that LBank is working to improve its global branding. He also emphasizes that the team’s success is due to the community’s support, and that the team will continue to work with LBank Exchange to offer more Polygon projects and tokens to the community. The Polygon team will continue to update its official social media platforms, such as Twitter, with more information about future plans and news.
Polygon is an Ethereum-based layer 2 aggregating scalable solution that works with a multi-chain Ethereum ecosystem. The platform addresses blockchain issues such as high gas fees and limited speed without compromising security. It’s a framework and protocol for creating and linking Ethereum-compatible blockchains.
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LBank is a rapidly expanding crypto trading platform that provides secure trading to individuals all around the world. The team intends to create professional crypto-asset integration services as well as a convenient trading platform. With over 6.4 million users worldwide, it has grown extremely popular.
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LBK Blockchain Co. Limited
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