The Polygon (MATIC) blockchain has created a good reputation for itself in recent years, in part due to Ethereum’s (ETH) success. Polygon is an Ethereum Layer 2 scaling mechanism. This implies that Polygon improves the efficiency of Ethereum by reducing congestion and high traffic. Users flock to Polygon because it provides the decentralization and security of Ethereum while also allowing for faster speeds and reduced costs.
Polygon has a track record, and its future is what’s most fascinating. Even while the majority of cryptocurrencies are in a bear market, Polygon’s creators continue to develop new solutions to meet greater use cases.
Polygon’s most significant advancement is the zero-knowledge Ethereum Virtual Machine (zkEVM), which many consider to be the most important development in the field since Bitcoin.
Without starting to get too technical, zkEVMs help make Polygon more adaptable to support not only new smart contracts but also older smart contracts that were originally written on Ethereum. Developers will be able to move their ETH-based smart contracts over to Polygon’s blockchain without needing to rewrite any code with these zkEVMs. Developers may seek this option because Polygon offers cost savings and quicker speeds previously mentioned. Furthermore, a migration to Polygon does not negate the security and decentralization that are associated with the Ethereum network.
It is anticipated that the zkEVMs will be operational by early 2023. Timelines in crypto are notoriously unpredictable, as evidenced by Ethereum’s merge to proof of stake, which has been delayed numerous times; nevertheless, the zkEVMs may enable Polygon to achieve a new level of usefulness, making it worth waiting for a few months.
Polygon pairs with Meta
In the following few months, an increasing number of Polygon users could discover that it has a world of possibilities. Just a couple weeks ago, Meta CEO Mark Zuckerberg stated that Instagram will offer NFTs to users in more than 100 countries throughout Asia, Africa, the Middle East, and South America. The goal is for Flow (FLOW), Solana (SOL), Ethereum, and — last but not the least — Polygon to work with Instagram NFTs.
Users will be able to display and share their virtual assets with followers, instead of being a marketplace for purchasing NFTs. The pieces will include basic information such as the name of the work, the creator, and blockchain on which it was purchased.
This is without a doubt the most prominent moment Polygon NFTs have had. Now that Polygon has a presence in front of Instagram’s two billion users, more people may learn about its cheaper fees and quicker transaction times versus Ethereum.
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