1.Ether Layer2 Layer 2 scaling solution, will be the next round of bull market engine?
Since the development of the blockchain industry, Bitcoin has experienced a total of three halving, as well as three major bull markets. Within these three rounds of bull markets, except for the first one, which was not dominated by Ether (ETH), the next two bull markets were caused by Ether’s technological advancements.
The first bull market in 2013, when ethereum wasn’t around, so he wasn’t around for the first round yet.
In the second bull market of 2017, Ether smart contracts came out of nowhere to issue coins at the touch of a button, driving the ICO bull market at the time.
The third bull market in 2020 was the DeFi fever on the Ether chain, which was a hot mess and drove the DeFi bull market.
What about careful analysis, whenever it’s a bull market? It’s all to do with technological advances in Ether.
With the halving of Bitcoin in April 2024 fast approaching, what technological advancement is the Ethernet network?
What the Ethernet network needs to address urgently is “scaling”.
In other words, the bullish engine of this time is the Ether Layer2 Layer 2 scaling solution.
There’s still some time before the next halving, but you should know that the Layer2 scene is now a clusterfuck, with all the horses and beacons in the air.
2.Second, Polygon (Matic) is the leader in Ethernet Layer2 scaling solutions
Reasons for the birth of Polygon & MATIC
With the rapid development of the cryptocurrency industry, a variety of projects have emerged, and the users of DeFi, NFT, Gamefi, and MetaCosmos have reached record highs. Currently, about 70% of DeFi projects are running on Ether, and there are tens of millions of DeFi and Ether users around the globe, and the surge in users has brought unprecedented pressure on Ether.
While Ethernet has only one chain, all projects have to run on this blockchain on a peer-to-peer basis, which not only consumes a lot of resources, but also triggers congestion. And Ethernet TPS (the number of transactions per second) is up to 15 transactions per second, which can no longer meet the growing user demand, and the current Ethernet public chain has become unusually congested. For example, when the hot Crypto Kitties, because the game is hot, the user transaction volume once occupied 25% of the entire Ethernet transaction volume, directly paralyzed the Ethernet squeeze.
Everyone’s transactions are clogged up on the chain, and in order to get faster transactions, some people start to raise the handling fee (Gas fee) so that the miners will preferentially process the transactions with higher fees. One way or another, everyone started to raise fees to increase execution speed, plus the price of Ether (ETH) was getting higher and higher, and as a result, Ether’s Gas fee was getting more and more expensive.
There are a couple of bigger problems with Ethernet at the moment:
a.Transaction throughput is low, with the highest Ethernet TPS of 15 strokes per second, far short of users’ needs.
b.Bad user experience, currently there is only one public chain in Ether, all the projects are running on this chain causing great congestion, and the handling fee (Gas fee) is getting higher and higher.
c.There is no autonomy and all projects are dependent on a harmonized network.
Polygon public chain is designed to add around the Ethernet blockchain, which can be compatible with Ethernet’s blockchain to alleviate the pressure of Ethernet, and at the same time can continue to use Ethernet’s ecosystem to help Ethernet make the ecosystem stronger and bigger, help Ethernet users to improve transaction speed, reduce transaction fees, enhance the expandability and applicability of Ethernet, rather than replacing Ethernet, and is also known as a good helper of Ethernet.
Introduction to Polygons and MATIC
Polygon & Matic was founded by three young technical engineers in Mumbai, India. With the success of Polygon & Matic, the three of them have become household names and multi-millionaires in the Indian blockchain space overnight, and are the new generation of leaders in the Indian blockchain space, and have been regarded as the role model for young entrepreneurs in India. Polygon’s mission and vision is to build a blockchain ecosystem that realizes the large-scale adoption of Web 3.0 technology, also known as the “Indian Ether”.
Polygon is an Ether Layer2 Layer 2 network scaling solution public chain, compared to Ether, polygon’s speed, scalability, availability and gas fees are more advantageous. Polygon now has significantly more smart contracts deployed than Ether. Ether’s transaction speed is 15 TPS, Polygon’s transaction speed reaches 7200 TPS. in terms of single-day transaction volume, Polygon now has more than 5 million transactions per day, while Ether is only about 1.2 million. Reflecting the cost, Polygon’s transaction fee is only 0.01% of Ether. Currently, 130 million addresses have been generated on Polygon and 1.8 billion transactions have been made, saving Ether users an average of $150 million in transaction fees per day.Polygon is now the leader in Layer2 scaling solutions for Ether.
Matic is the native token on the Polygon blockchain, all operations on the Polygon chain need to pay Matic tokens as a Gas fee, each Gas fee requires about the equivalent of $0.01-0.02 USD or so MATIC coin.Issued in April 2019, the global consensus is very high, the number of users is very large, especially in India as long as they are involved in the Almost everyone who is involved in blockchain owns MATIC Coin, which is regarded as Indian Ether (ETH); it has long been ranked among the top 10 popular mainstream cryptocurrencies in the world, and has a huge upside in the future, which is expected to go up to $50 per coin.
3.MATIC DAO Overview
In order to let more people use Polygon and hold and promote MATIC coins, Polygon team set up different DAO organizations to create a diversified Polygon ecosystem in terms of technology application and community promotion.
MATIC DAO is initiated by many Polygon & MATIC believers in India with the mission values: to provide a safe, stable and long-lasting platform for ordinary cryptocurrency players, to help ordinary players who don’t know the technology to enter the Web 3.0, and to create wealth to harvest wealth in Polygon & MATIC.
MATIC DAO Mining with MATIC pledge to produce MATIC can also be accelerated by sermons to accelerate the mining speed. In case the mining pool is finished, the DeFi subsidy mechanism is automatically activated for liquidation, and after liquidation, the contract is restarted, and all new and old players start to pledge mining again, so that players and project initiators do not have to worry about liabilities. Open and transparent, safe, stable and long-lasting, double-cycle driven and endless.
MATIC DAO is now just in the initial public beta stage, it has quickly gained the recognition and trust of the majority of MATIC coin enthusiasts, and now a lot of MATIC coin enthusiasts in India, Singapore, South Korea, Malaysia, China, Vietnam and other countries and regions are actively participating. Especially those long-term bullish MATIC coin believers, not only can they hold MATIC coins for a long time by pledging, not to be washed away by the fluctuating and changing short-term market; they can also increase the MATIC coins in their hands continuously through sermons, and in the future, there will be more MATIC coin enthusiasts to create wealth and harvest wealth in the MATIC DAO.
4.Summary
If you stepped on the Ether ICO bull market in 2017 and the DeFi bull market in 2020.
Then don’t step out of the Ether Layer2 bull market this time.Polygon(Matic), the leader of Ether Layer2, is now deafening and bound to break through the clouds, with Matic likely to rise to $50 per coin.
The DeFi riches story that played out in 2020 will inevitably be replayed next year in 2024 in favor of the layer2 story.
Don’t miss out, people, on this chance to change your life against the odds.
Join the MAITC DAO Telegram channel for more information!