- With the increasing market demand of DeFi, Matic Networks introduced the Polygon project
- With the prosperity of ETH, the newer projects do not have to keep waiting for ETH 2.0
- The project possesses a two-layered solution ability and can challenge the project of Web3 Foundation
As the digital assets market rose to a substantial expandable level and the Ethereum network also expanded to a dynamic high raise in the year 2020, there was a similar rise in DeFi and was exposed to many vulnerable outcomes in the assets market. We are not unaware that one of the most sophisticated and grounded infrastructures is possessed by the blockchain of Ethereum. The blockchain network is secure and user-friendly, and these funds have led to more incredible innovation and expansion of all the previously planned projects. These projects do not have to stay on the waiting list for the latest version of ETH 2.0. The newer ethereum plans to solve the company’s more extraordinary endeavours to decrease the gas fees and all the other scaling information and can be carried out by sending over to the other side chains.
The link between Polygon and Polkadot
Matic Network introduced its rebranded group name, Polygon. The network’s only aim is to create, innovate and build a multi-chained system. The system is preparing to solve the problems like that of Optimistic Rollups, Validium and xkRollups. The introduction of Polygon has raised loads of questions among the market workers, and some of the experts have mentioned that it has a similar strategic plan like that of Polkadot of the ETH Network. Polygon is also believed to possess the ability to combat and challenge another open source project introduced by the Web3 Foundation. With the dynamic increase and expansion of the network, Polkadot bagged the fourth position of being one of the largest DOT tokens, as per the market cap; this event happened with the overwhelming surge in price in February 2021. The significant backing for this surge was the announcement of Polkadot being the testing phase of Rococo after it released the map of the para-chain outlet.
ETH’s two-layered solutions seem promising
With the recent rebranding published by the Matic Networks, the two names Polkadot and Polygon have bagged the position of being two among the most well-established ETH-based solutions to provide two layers solutions and to transfer the ETH ecosystem. Therefore, with these two new projects running via ETH blockchain, the term’ complex narrative’, as possessed by ETH, has to be keenly studied by the experts if they wish to learn about the two well-established projects, Polygon and Polkadot.