On Sunday (January 9), highly popular New Zealand based crypto analyst and influencer Lark Davis explained why he is so bullish on Polygon\u2019s $MATIC token.<\/p>\n
Polygon\u00a0is \u201ca protocol and a framework for building and connecting Ethereum-compatible blockchain networks\u201d; it aggregates \u201cscalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.\u201d<\/p>\n
On 18 May 2021,\u00a0Anthony Sassano, who joined Polygon as an advisor earlier this year, took to Twitter to clear up some of the confusion around Polygon (e.g. some people refer to Polygon as a sidechain to Ethereum, while others call it an L2 blockchain). Below are a few highlights from that\u00a0Twitter thread:<\/p>\n
Furthermore, Sassano took this opportunity to talk about the two bridges that exist between Ethereum and Polygon:<\/p>\n
He also commented on multi-sigs for Polygons contracts:<\/p>\n
Finally, he said that Polygon is \u201ccommitted to building & deploying L2 solutions like rollups in the future\u201d and this is what he is \u201cmost excited about.\u201d<\/p>\n
In a video released on his YouTube channel on January 9, Davis explained his bullishness on $MATIC, the price of which he behieves is headed to $10.<\/p>\n
According to a report by The Daily Hodl, Davis said:<\/p>\n
\u201cOf the129 million accounts that have used Polygon over the last eight months, only 15% have addresses on Ethereum.<\/em> That means 85% of the new Polygon users are Polygon natives.<\/em>..<\/p>\n \u201cIf you\u2019ve ever tried to buy an NFT on Ethereum you know it can be a painful process. If you\u2019ve ever tried to claim an NFT drop on Ethereum you know it\u2019s a very expensive process.<\/em><\/p>\n \u201cWe\u2019ve seen Polygon really picking up in the number of NFTs sold. We can see from July, when we had 50,000 Polygon-based NFTs sold, to now where we have\u2026 1.99 million NFTs sold in the month of December on Polygon on OpenSea.<\/em> That\u2019s absolutely massive, massive growth for the Polygon ecosystem.<\/em>..<\/p>\n \u201cIn the last year, we\u2019ve seen: Aave, which is one of the biggest DeFi [decentralized finance] protocols, OpeaSea, the biggest NFT marketplace, [and] The Sandbox, which is one of the biggest metaverses.<\/em> All this stuff coming over to Polygon because it\u2019s a great user experience.<\/em>\u2026<\/p>\n \u201cI believe that a $10 MATIC is inevitable. I think it\u2019s going to come. I think it\u2019s going to happen. It\u2019ll be glorious\u2026<\/em><\/p>\n \u201cLooking at the network statistics, I\u2019m seeing a network that\u2019s taking off in a serious way. Users are piling in. Money\u2019s piling in. Developers are piling in. Tokens are going to be burned.<\/em> $10 is coming. MATIC will be a top-10 coin by the end of the year is my prediction<\/em>.\u201d<\/p>\n https:\/\/youtube.com\/watch?v=eLgQIancHZM%3Ffeature%3Doembed<\/p>\n In a blog post published yesterday, the Polygon team introduced \u201cPlonk2\u201d, which they called \u201cthe world\u2019s fastest ZK scaling technology.\u201d<\/p>\n Here is how they described the recently-formed group Polygon Zero\u2019s mission: \u201cto use zero-knowledge proofs to scale Ethereum to a billion users, without compromising decentralization or security. \u201c<\/p>\n They went on to say that \u201cachieving this requires fast and efficient proof systems\u201d, which is why they were excited to announce Plonky2.<\/p>\n The blog post mentioned that \u201cPlonky2 is a recursive SNARK that is 100x faster than existing alternatives and natively compatible with Ethereum.\u201d Apparently, it \u201ccombines PLONK and FRI for the best of STARKs, with fast proofs and no trusted setup, and the best of SNARKs, with support for recursion and low verification cost on Ethereum.\u201d<\/p>\n Here is what the Polygon team said about Plonky2 on Twitter yesterday:<\/p>\nPolygon Team Introduces \u2018Plonky2\u2019<\/h2>\n
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