An investment analyst talked about an altcoin project with an Ethereum layer-2 scaling solution. The analyst stated that big hands invested in the mentioned altcoin and announced that he was buying a lot.
“This altcoin is the most exciting project of the future”
Polygon (MATIC) has become popular over the last few years, thanks in part to the rise of Ethereum (ETH). Polygon is a layer-2 scaling solution for Ethereum. As many in the crypto space know, Ethereum experiences congestion from time to time due to high traffic. Polygon, a layer-2 scaling solution, helps make Ethereum more efficient. The altcoin ensures the security and decentralization of Ethereum. It also attracts users with faster speeds and lower fees. Polygon has a proven history, but its future is the most exciting. A brutal bear market continues to engulf cryptocurrencies. Despite this, the developers of Polygon continue to create new solutions. Thus, they support more and more use cases.
“The most important development in the network has taken place”
Probably the most important development from Polygon is known as the zero-knowledge Ethereum Virtual Machine (zkEVM). This technological achievement ensures that the Polygon network does not compromise on speeds or low costs. Thus, it allows it to support more use cases. zkEVMs enable Polygon to support not only new smart contracts, but even old smart contracts originally written in Ethereum.
These zkEVMs allow developers to migrate to Polygon without having to rewrite any code. It’s normal for developers to want to do this. Because Polygon offers the aforementioned lower fees and higher speeds. In addition, the transition to the altcoin project does not compromise the security and decentralization of the Ethereum network. ZkEVMs are scheduled to be live in early 2023. Timelines in crypto are notoriously unstable. But zkEVMs will allow Polygon to reach a new level. Therefore, it is better to wait a few months.
“Big names love this altcoin project”
Over the next few months, it looks like an increasing number of users will start to realize that Polygon offers a world of opportunity. Just a few weeks ago, Facebook (Meta) CEO Mark Zuckerberg announced that Instagram will roll out NFTs to users in more than 100 countries. The plan includes NFTs in Solana, Flow, Ethereum and Polygon to be Instagram compatible. Users will have the ability to show and share their digital assets with their followers. Additionally, NFTs on Instagram will display basic information such as the creator, the name of the piece, and the Blockchain it was purchased from. This is probably the biggest adoption event Polygon NFTs have ever received. Now Polygon will come in front of Instagram’s two billion users. This will be extremely positive for the adoption of the altcoin project.
However, Polygon caught the attention of one of the most famous companies in the world last month. In late July, Disney announced the completion of the final round of participants in the Accelerator Program. Accordingly, the altcoin became one of the projects participating in Disney’s program. The Accelerator Program is a business development program designed to accelerate the growth of innovative companies. From now on, Polygon receives mentoring and access to a co-working space on Disney’s creative campus. Disney hopes that a collaboration will eventually emerge from these initiatives. Imagine what this could do for Polygon’s growth and price. Being the Blockchain of choice for Disney will provide the power to propel Polygon to heights we’ve never seen before.
“An unprecedented rise is possible”
Polygon (MATIC) price is down nearly 70% from its all-time high. Despite this, altcoin is among the cryptocurrencies with the highest rise in the entire market. If MATIC hits its previous high of $3, it will give these investors a possible 300% return. Nothing is guaranteed in investing. But it’s possible that Polygon could reach that price before their relationship with Instagram or Disney and the introduction of zkEVMs. Imagine where the price will go with partnerships if that happens.
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