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3 Reasons Why I Buy This Crypto Hand Over Fist

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3 Reasons Why I Buy This Crypto Hand Over Fist

The Polygon (MATIC) blockchain has made a name for itself over the past few years thanks in part to Ethereumit is (ETH) ascend. The polygon is a Layer 2 scaling solution for Etherum. This means that Polygon helps make Ethereum more efficient, as Ethereum sometimes suffers from congestion and high traffic. Users flock to Polygon because it offers the security and decentralization of Ethereum, but with faster speeds and lower fees.

Polygon has a proven track record, but its future is what’s most exciting. Even with a brutal bear market gripping most cryptocurrencies, Polygon developers continue to create new solutions to support more and more use cases.

zk-What?

Arguably Polygon’s most significant development is known as the Ethereum zero-knowledge virtual machine (zkEVM). This technological feat allows the Polygon blockchain to support other use cases without sacrificing speeds or costs.

Without getting too technical, zkEVMs make Polygon more versatile to support not just new smart contracts, but even old smart contracts originally written on Ethereum. These zkEVMs allow developers to migrate their Ethereum-based smart contracts to the Polygon blockchain without having to rewrite any code. Developers may want to do this because Polygon offers the lower fees and faster speeds mentioned earlier. Additionally, a move to Polygon will not sacrifice any of the highly desired security and decentralization that comes with the Ethereum blockchain.

zkEVMs are expected to go live in early 2023. Crypto timelines are notoriously volatile – look no further than the Ethereum merger with proof-of-stake, which has been delayed multiple times – but zkEVMs could allow Polygon to reach a new level of usefulness, something that might be worth waiting a few more months.

Polygon Pairs with Meta

Over the next few months, more users may begin to realize that Polygon offers a world of opportunity. Just a few weeks ago it was announced by Meta (META) CEO Mark Zuckerberg that Instagram will unveil NFTs to users in more than 100 countries across Asia, Africa, the Middle East and the Americas. The plan is for NFTs of Solana (FLOOR), To flow (TO FLOW)Ethereum and – last but not least – Polygon to be compatible with Instagram.

Rather than being a marketplace to buy NFTs, users will be able to show off and share their digital assets with their followers. NFTs will have basic information like the creator, name of the coin, and the blockchain it was purchased on.

This is probably the most exposure Polygon NFT has ever received. Now that Polygon is in front of Instagram’s two billion users, we hope more users will learn about its lower fees and faster transaction speeds compared to Ethereum.

Disney does crypto

As if the last month wasn’t good enough for Polygon, blockchain caught the eye of one of the world’s best-known companies. End of July, disney (SAY) announced that its latest set of participants in the Acceleration program was finalized – and Polygon was one of them.

The Accelerator Program is a “business development program designed to accelerate the growth of innovative companies around the world”. As one of six members to be part of this year’s class, Polygon receives investment capital, access to shared workspace on Disney’s Creative Campus, and mentor support. Disney hopes that eventually a collaboration will come out of these ventures.

Imagine what that could do for Polygon’s growth — and its price. Serving as Disney’s blockchain of choice could propel Polygon to heights we’ve never seen before. Considering that zkEVMs are on the horizon, an Instagram presence is looming, and the possibility of partnering with Disney – it sounds almost too good to be true.

Although down almost 70% from its all-time high, of all the other battered cryptocurrencies, Polygon might have the most upside in the overall market. Even if Polygon only returned to its previous high of nearly $3, that would offer investors a possible return of 300%. Nothing is guaranteed to invest in, but if Polygon could hit that price before its associations with Instagram or Disney and the introduction of zkEVM, imagine where it might go in the future.

Randi Zuckerberg, former director of market development and spokesperson for Facebook and sister of Meta Platforms CEO Mark Zuckerberg, is a board member of The Motley Fool. RJ Fulton has positions in Ethereum and Solana. The Motley Fool holds and recommends Ethereum, Meta Platforms, Inc., Polygon, Solana, and Walt Disney. The Motley Fool recommends the following options: January 2024 long calls at $145 on Walt Disney and January 2024 short calls at $155 on Walt Disney. The Motley Fool has a disclosure policy.

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