If you are a cryptocurrency trader or investor then you may be facing a hard time through this crypto winter. Because the vast majority of cryptocurrencies have crashed and many people have lost their money in the crypto market.
But if you are a smart crypto investor and have already seen this type of crypto market fluctuations then you may understand how the crypto market is highly volatile. In this hard time for the crypto market, there are still such cryptocurrencies that have potential, and investing in these cryptocurrencies could be a smart financial move.
Polygon (MATIC) is one of such cryptocurrencies that have the potential to be the Ethereum of 2023 and investing in this cryptocurrency could be most rewarding.
Why Polygon Can Be Next Growing Cryptocurrency?
Polygon is a Layer 2 scaling solution, or in general a sidechain, that is built on top of Ethereum. It helps to process multiple transactions for Ethereum and after processing bundles and sends transactions to Ethereum’s Blockchain. The main benefit of Polygon is it reduces transaction time and lowers fees.
Ethereum is the second largest cryptocurrency in the world, and the attachment of Polygon with Ethereum to lower fees and transaction time is a huge thing for Polygon. Before Polygon the Ethereum Blockchain was very slow and has high fees, which frustrates the developers and users.
The relationship between Ethereum and Polygon is symbiotic. Developers and users were hesitating to use Ethereum due to high fees and transaction times.
But now by using Polygon, they can take the benefits of Ethereum’s wide range of uses in a more time- and cost-effective way. When more people and businesses will start using Polygon then it will be more beneficial for Polygon.
Polygon Has Started Attracting Big Businesses and Users
Now Polygon has started attracting big businesses and users towards itself for corporate partnerships. Many companies have already joined hands with Polygon for their Blockchain projects.
In 2022, the world’s largest social media platform Meta announced it would be jumping into non-fungible tokens (NFTs). Meta allowed their Facebook and Instagram users to connect their digital wallets to their accounts. And Polygon is one of the handfuls of blockchains selected by Meta to work on this project.
Polygon suddenly came into the news when it was chosen by Disney for its Walt Disney Accelerator Program. Other big names in Polygon’s basket are Nike, Mastercard, Starbucks, and Coca-Cola. All these major partnerships are enough to tell the success of Polygon.
Will Polygon Become the Next Ethereum In 2023?
The strong relationship of Polygon with the Ethereum blockchain makes it unique in the whole cryptocurrency industry. In the future, if Thereum thrives over the coming years then Polygon will also get benefit from it. As we already said Polygon is increasing the efficiency of Ethereum so it will attract more and more customers and will get more benefits.
In current market situations, Polygon is least hurt by this bearish market. And now is a better time to make some investments in this awesome project to get long-term profits from its growth.
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.