Press release. Recently, LBank Exchange held an AMA session with the Polygon team, discussing Polygon’s achievements, collaboration, NFT and gaming markets, Nightfall solution, future plans etc. Here’s that AMA summary.
Ethereum is the preferred blockchain development platform, but it has limitations such as low throughput, poor UX, and lack of sovereignty. As a protocol and framework for building and interconnecting Ethereum-compatible blockchain networks, Polygon breaks through these limitations by assembling scalable solutions on Ethereum and supporting the multi-chain Ethereum ecosystem.
Polygon outperforms Ethereum in terms of active users
As a Layer 2 solution aggregator built on top of Ethereum, Polygon has made some great strides since its birth, with its POS chain having over 2,000 live DApps and processing over 7 million transactions daily. In fact, Polygon now has more daily active users than Ethereum.
MATIC, the token for the Polygon Network, is already on trading platforms such as the LBank Exchange, and currently has a trading volume of over a billion across exchanges. The Polygon team aims to get more people to hold MATIC tokens, and hopes that MATIC trading volume on the LBank Exchange will continue to grow as well.
Expanding the Polygon Ecosystem
With the ability to bring thousands of new users to the blockchain, the NFT and gaming markets are strategic sectors that Polygon continues to focus on. Some of the biggest live game projects are already on Polygon, such as Decentral Games, Sandbox, Somnium Space, Vulcan Verse, etc. As for NFT projects, there are OpenSea, Lazy.com, Autograph, etc.
The team will bring many such games and NFT projects to Polygon so that its community can have more artwork and fun. In addition, Polygon allows for huge scalability, and compared to Ethereum, the minting costs on Polygon are 100,000 times cheaper on average.
Polygon also has products designed for enterprise customers who need privacy and scalability, such as Nightfall, a unique privacy-focused rollup offering that combines Optimistic Rollups with Zero-Knowledge (ZK) encryption commonly used in ZK Rollups. It creates a proprietary and scalable blend of the two popular technologies.
Polygon Nightfall has the potential to bring many large organizations onto the blockchain, and the team believes it will lead to a large number of transactions on Polygon and add more projects and new users to the Polygon ecosystem.
Big plans for the future
The Polygon team has already made some big plans for the future. Technically, Polygon is investing heavily in ZK technology and ZK Rollup, for example, the team has already spent $250 million to purchase Hermez, a decentralized open-source ZK Rollup optimized for secure, low-cost, usable token transfers on the Ethereum suite.
Polygon also acquired 4 more teams to build more ZK Rollups, to achieve the goal of building highly scalable ZK Rollup technology. Additionally, Polygon has upcoming POS chain updates and EIP 1559 implementation details.
On the business side, Polygon has several exciting updates as well, with plenty of great DApps and integrations planned. Significantly, Arjun, Polygon’s head of growth, notes that LBank is strengthening its global brand. He also emphasizes that community love makes the team achieve their goals, so he will continue to collaborate with LBank Exchange to bring more Polygon projects and tokens to the community. The Polygon team will continue to post on official social media accounts such as Twitter to reveal more details about future plans and the latest updates.
Polygon is a scalable layer 2 solution on Ethereum that supports a multi-chain Ethereum ecosystem. The platform solves blockchain challenges such as high gas fees and slow speeds without sacrificing security. It is a protocol and framework for building and connecting Ethereum-compatible blockchains.
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Twitter: https://twitter.com/0x Polygon
LBank is a growing cryptocurrency trading platform that offers secure trading to users all over the world. The team aspires to build professional integration services for crypto assets as a convenient trading platform. It has become popular with more than 6.4 million users around the world.
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Facebook social network: https://www.facebook.com/LBank.info/
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