The crypto market has turned red again in recent days, fueling bear market rumors. While the leading crypto Bitcoin sank below the psychological level of $ 40 thousand, altcoin projects mostly followed it. However, an altcoin project has announced that something big is coming soon.
Eyes on the Altcoin project As we have covered in the news of Kriptokoin.com on April 22
, while the crypto market bleeds, especially with the expectations that the US Federal Reserve will act more aggressively, a layer-2 solution is available. and Polygon (MATIC), which is seen as an Ethereum competitor, shared a short ad with the hashtag ‘wagmi’ on its Twitter account.
The tag Polygon used in its announcement is the abbreviation of “we all gonna make it”, that is, the altcoin project says ‘we will make it’. In the short-term advertisement, “Something is coming. It’s a super thing. One of Polygon’s biggest announcements” is included and points to the date 22.4.22.
Polygon’s surprise, which does not make any statements other than the closed words we have mentioned It caused MATIC investors to focus on April 22. According to CoinMarketCap data, MATIC made a jump from the red zone to the green zone after the announcement, reaching $1.40, up 2.14% on a daily basis.
What is Polygon (MATIC)?
Polygon (MATIC) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is the Polygon SDK, a modular, flexible framework that supports building multiple application types.
Using Polygon, optimistic rollup, ZK rollup, standalone chains, or any other infrastructure required by the developer can be created. Polygon effectively turns Ethereum into a full-fledged multi-chain system. This multi-chain system takes advantage of Ethereum’s security, vibrant ecosystem, and openness, with the benefits of Polkadot, Cosmos, Avalanche, etc. looks like others.
Polygon combines Plasma Framework and Proof of Stake (PoS) Blockchain architecture. The Plasma framework used by Polygon, as suggested by Ethereum co-founder Vitalik Buterin, allows easy execution of scalable and autonomous smart contracts.
Polygon’s native token, MATIC, is an ERC-20 token running on the Ethereum Blockchain. The token is used as a payment currency for payment services on Polygon and between users operating in the Polygon ecosystem. Transaction fees on Polygon side-chains are also paid in MATIC tokens.
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