Consulting Giant: Not SHIB! This Altcoin Is A Valuable Opportunity

Analysts at the consulting giant Fool are prioritizing an altcoin project collaborating with giants like Coca-Cola and Disney, among many other Ethereum competitors.

Here is that altcoin that analysts call opportunity

Polygon works with Ethereum as a side chain. It manages this collaboration through its own Blockchain. Where it is unique is that it adds to the Ethereum network at the end of these transactions. In this way, both users and developers can perform low-cost transactions at high speeds.

Polygon is touted as one of the strongest Ethereum competitors. But in a broader picture, this is not quite the case. Ethereum developers are of the opinion that networks like Polygon support Ethereum on a digital scale. Ethereum already has a number of upgrade plans to become more scalable. However, they aim to build a faster and more efficient ecosystem by integrating Layer 2 Blockchains like Polygon.

The future of scalability

On the tech side, Polygon developers have announced the next step to scaling Ethereum. Known as the zero-knowledge Ethereum Virtual Machine or zkEVM, this technology was expected to be years away. But according to a July announcement, zkEVM will go live on Polygon in early 2023. In fact, they have already started the testing phases.

In addition to scaling Ethereum, ZkEVM technology allows smart contracts or any code to migrate to Polygon without the need to rewrite it. This was an issue that forced Polygon to limited development before.

Growing partnerships of the altcoin project

The usefulness and potential of Polygon is becoming clearer. Over the past year, Polygon has partnered with numerous companies that even the anti-crypto investor might know. In May, Meta announced that the company would integrate NFTs into its social media platforms Facebook and Instagram. One of the four networks selected was Polygon. Also, Coca-Cola chose Polygon to celebrate International Friendship Day in early August.

Polygon’s most exciting partnership this year has been with Disney, one of the world’s most popular entertainment companies. The firm selected Polygon as one of six candidates for 2022. This is a sign that Disney wants to get involved in Web3 and Blockchain technologies. As Kriptokoin.com, we discussed their future plans in this article.

A valuable opportunity

Despite being in the midst of a harsh crypto winter, Polygon has had a year filled with impressive technological breakthroughs, new partnerships, and recognition as a key player in Ethereum’s development. Blockchain is on its way to becoming the primary player in the digital age.

Polygon’s price is down this year like many other altcoins. It cannot get out of this trend, probably due to widespread selling and unfavorable economic conditions. But if the economic landscape changes, we will see Polygon among the leading cryptocurrencies, according to Fool analysts. The MATIC price is trading too low to be true today.