What is polygon? What's MATİC'S target price?will it reach x10?
What's the connection with Etherium
I would like to talk about a project that has been in our closed branding and personal portfolio for a long time and that we could not find the opportunity to explain one of the best projects ever made and what is the closest Network polygon to solvent ethereum skeleton problem does technology have a future if you want to invest and what has happened since its launch let's examine together
if there will be a need for layer to scaling Solutions like polygon it seems that such emerge will have a positive effect on the stability of ethereum of course the situation is also likely to increase the demand for ethereum this means that usage will expand and the network may slow down but in any cases the second layer of layer 2 means that we may need projects soon more than ever creating an excellent opportunity for polygon but first what is polygon let's start here polygon was founded in 2018 by software developer gianti Kanani Sandeep melwell and anogon Arjun back then it was called the polygon Matic Network that's why the token name is Matty in February 2021 the company was renamed and re-blended as polygon Network later polygon Network work started to be coordinated by an Indian non-profit Foundation it has already raised nearly 5 million from three pre-sales in 2019 but no one knew it was just the beginning polygon has since received hundreds of millions of dollars from its investors polygon's goal is to produce the best scanning solution for ethereum as we mentioned before could think of polygon as a proof of stake chain a replica of ethereum that runs parallel to ethereum and relies on its security polygon process proof of stake from the Heimdall lawyer and validator set the reason it uses the Hem the lawyer is to take snapshots of its upper layer and periodically post them to the Asylum blockchain if the proof of stake operation is compromised these snapshots can be referenced to recovered user funds polygons say we can call it a bit centralized polygons proof of stake chain also allows you to process up to 65 000 transactions per second which has already made polygon the most popular Network in the ethereum Isis however one should not think that polygon uses only proof of stake methods polygon has one other scaling solution called Paramus Hermes on the other hand uses ZK technology Hermes which has been under development since last summer can currently process around 2000 transactions per second in fact project officials reported Mass favored that Hermes only carried out simple operations and continue to be developed polygon has been working on three more scaling systems since last year these are polygon 0 polygon 912 and polygon Maiden if we have a little understanding of polygon technology we can move on to the most heartbreaking news we have heard about last year they had partnered with the investment firm of credit co-founder Alex Ohanian to loan 200 million dollars decentralized social medal project as days after that the open web browser announced that it would integrate it with the polygon Network making it possible for 80 million users of browser to seamlessly interact with Poland dots at the end of December if you are aware we have not made it this year yet uniswap officially deployed their decks on the polygon Network resulting in Matrix rise to an all-time high however this race was shortly because according to the news of telegram polygon Network officials had found a big mistake in the proof of stake chain this news revealed that 24 billion dollars of medic was put at risk unfortunately a hacker managed to exploit the bug before the necessary approach was met and managed to become invisible with over 2 million dollars of Magic the polygon Network team explained that they are keeping this hacking Scandal a secret because they don't want to draw attention there until they fix the vulnerability in the coming day the polygon proof of stake chain began to reflect extremely high gas fees the increase in situation in early General revealed that the Bots created in a game called sunflower Farms developed on the network broadcast early in January a cool enhancement called Punky 2 was released to be used as part of kualaikandera if the Caucasians are correct it looks like Juan kitu will run polygon exactly 100 times faster than other networks enabling it to handle hundreds of thousands of transactions per second at this point it is worth mentioned that more than 700 decentralized applications are running on the polygon Network
I would like to take you to another news we heard about polygon the news that vitalik buteria has given back 100 million dollars from a billion dollars Shiba Inu donated to an Indian pandemic really fund called crypto a or as you know change is not given in AIDS in later research it was relieved that the owner of the crypto Aid Foundation was scientific name well co-founder of polygon Network a piece of news that should have been candelos made null noise in a way we didn't understand the SEC which suit everything was officially hibernating it was later revealed that the reason he returned 100 million dollars to vitalik butarian was because they were only able to cash by 470 million dollars worth of crypto and donated only around 80 million to trust the Charities what this means is that this money is implicitly funding the polygon Network and enabling it to continue to develop its other Venture vitalik is smart enough to want to short out such a large sum to polygon already at the beginning of February polygon Network announced that 450 million dollars which seemed to be too much in its coffers was collected from various investment companies now we know better where this money came from is this bad news for investor and US of course not in fact in our opinion ethereum's implicit funding of polygon is a Clear Proof where it can go in the future early in my large polygon announced that it has partnered to use its usdt stable coin as a legal tender this time in Lugano Switzerland I don't think anyone has heard of adobe's agreement with polygon to Open nft Marketplace on the portfolio platform called behance but then something happened and on the March 11th the polygon Network went completely offline for a day immediately after this news ethereum announced that it has launched a series of smart contract systems considering of cardano's Solana Avalanche and algorand to support polygon with multiple networks recently polygon unveiled a zero knowledge decentralized identity solution called polygon identity which claims to protect user privacy the point that is not understood here is that such a big answer present developments announcements and partnership did not cost much in terms of magic price this means that Samsung or someone is suppressing the metric price and the biggest reason for this seems to be sub apply imbalance it is worth noting that medic has a total supply of 10 billion the data shows that the circulating supply of Matic has increased by nearly 600 million in the last four months coin echo's historical data shows that medic circulation supply has not changed at all but given Matrix development schedule this is highly unlikely because the polygon Foundation has released 600 million metrics for transfer transactions during this period speculations that the polygon Foundation cell is suppressing the price of magic has been making quite the crypto headlines lately this paints a pretty bad picture for the Matrix price potential but that's partly due to the demand that can be created by upcoming milestones in route map co-founders Sandeep melwell recently published a timeline for polygon's Romanian scaling Solutions accordingly polygon maiden and polygon 0 will be on the air by the end of the year and any disruption will be prevented the main point and most exciting part of this timeline is that at the end of the development polygon will be a hundred hours to decentralized Administration if all goes well Sandeep says polygon could be fully decentralized in two to three years when we consider the total Supply the total supply of polygon comes to an end in two three years another issue that will almost affect the life of polygons and their formatic is that the timeline has been given two three years for the decentralized digital identities we mentioned earlier to be adopted and used as intended it can also protect user privacy in line with blockchain Philosophy by offering new users for cryptocurrency especially in the field of decentralized finance and decentralized governance still we can't ignore that polygon may be selling the magic it holds in the process this situation may create a little more price pressure for medic but at the end of the day polygon may have a monopoly in the community with and unprecedented scaling system these days when everyone is talking about ethereum 2.0 there might be a Network that has polygon commissions to perform his stats with 80 percent of the maximum supply of 10 billion units in circulation magic tokens runs 18s in the market with a value of 0.49 based on what we have said it can be thought that medic could reach a market value of at least 50 billion dollars adding how much a network is needed for the Metalworks in the future even if you assume that the entire Supply is on the market the value of magic is likely to increase to at least five dollars that is the 10 times its current price of course magic is not strong enough to carry the market alone it requires Bitcoin movements and a solid boost season
I remind you that what we are talking about is not an investment advice because we need to see if polygon can deliver on this promises first dozens of crypto projects with similar Financial and working on exactly the same technology is in the market will constantly push the competition to the extreme in this case the skeleton Wars may be escalated to a more heated level
