In 2022, Polygon (MATIC) was one of many networks within the cryptocurrency market that partnered most with essential corporations, resembling Starbucks, Disney and Nubank, for instance. These details contributed to the altcoin ecosystem rising, even in a bear market, and extra elements could make the cryptocurrency among the many highlights of 2023.
Polygon arrived within the blockchain world intending to supply scalability for Ethereum (ETH) transactions. With it, traders who wish to have the safety of the primary altcoin in the marketplace, however nonetheless pay low switch charges, obtain their objectives.
On this sense, Polygon established itself as the primary Layer 2 community this yr. Nevertheless, this doesn’t imply that its options can’t be additional developed and improved in 2023.
With the excessive demand for belongings that provide scalability for good contracts, the efficiency of MATIC, Polygon’s token, may very well be even higher within the coming yr.
Ethereum can assist Polygon develop
In 2023, one more main improve to the ETH community is predicted, the Surge. This improve will assist the good contract platform to scale, with out affecting its decentralization.
Scalability will come as Ethereum validators will not have to retailer your entire cryptocurrency database. Because of this, storage prices will probably be lowered.
This yr, it turned clear that blockchain tasks revolving across the Merge — the replace that introduced proof of stake (PoS) to ETH — grew. A very good instance of that is the capitalization enhance of Lido DAO (LDO), which skilled 300% development between July and September 2022.
If the situation repeats itself, belongings which can be a part of Layer 2, resembling Polygon, could develop quite a bit and MATIC could change into the chief on this section. In spite of everything, its community has already gained the belief of traders within the blockchain trade.
Safety and privateness
One other trade that’s rising, albeit modestly, is ZK Rollups. For these unfamiliar with the time period, ZK Rollups is a Layer 2 blockchain protocol that processes transactions, performs computations and shops knowledge off-chain whereas holding belongings in an on-chain good contract.
This idea manages to show knowledge with out the necessity to reveal data that isn’t related to a transaction, thus serving to to keep up the privateness and safety of these concerned in a cryptocurrency switch.
On this area, Polygon is a spotlight with its zero-knowledge proofs aggregating a number of off-chain transactions right into a single on-chain switch. Moreover, cryptocurrency ZK reduces the computational price of producing validation proofs.
This reveals how the Polygon group is dedicated to creating options for varied points, standing out for its potential to resolve actual issues and never invented with out demand. Undoubtedly, that is one other constructive level for the worth of MATIC in 2023.