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Polygon supports universal Web3 adoption. With Polygon crypto, developers can create user-friendly, scalable decentralized applications (dApps) with cheap transaction costs without ever compromising security. Polygon is a decentralized Ethereum scaling platform.
Image Source: polygon.technology
Here are 10 little known facts about Polygon you should definitely know before investing in Polygon crypto.
Facts About Polygon Crypto
Polygon was founded by 3 Indians
Polygon crypto was created in October 2017 by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun. It was initially referred to as the MATIC Network and then changed the name to Polygon.
Mark Cuban has invested in Polygon
One of the network’s investors is the multibillionaire owner of the NBA team Dallas Mavericks, Mark Cuban. Chainlink and Decentraland are also some of the other partners.
Polygon was developed to transform Ethereum for the better
To transform Ethereum into a full, interoperable multi-chain environment akin to Polkadot or Cosmos, Polygon crypto was created. Ethereum’s strength is further enhanced by its strong protocol and security.
Polygon is adding scalability to Ethereum to take it to mass-level
For Ethereum, Polygon provides scaling infrastructure that enables the development of decentralized applications (dApps), the consolidation of numerous transactions into a single one for efficiency, and proof-of-stake (PoS) solutions that increase transaction speed and decrease transaction costs.
Polygon crypto stands for a genuinely decentralized world
Border-less transactions, third-party middlemen, and gatekeepers are all things that Polygon intends to make possible in a truly decentralized society. The goal of its interoperability is to establish a technologically homogeneous global ecosystem that will help blockchain grow and become more widely used.
Polygon is an integral part of Web3
Because Web3 reduces transaction times, which appeals to NFT fans, Polygon’s network is involved. GameSwift, a Web3 gaming platform that enables players to play blockchain-based games, was introduced in August 2022.
Polygon is working on a mobile phone operating system to release soon
To provide Web3 technology to customers of mobile phones, Polygon and mobile phone manufacturer Nothing established a partnership in July 2022. Polygon NFTs will be used to finance the phone’s production, and members will have first access to goods and activities.
Polygon has set up multiple funds to aid the development of DeFi and Web3
The development of dApps on Ethereum, the metaverse, and gaming are supported by funds set up by Polygon. To grow the Polygon, Web3, and DeFi ecosystems, the company wants these solutions to be implemented.
Polygon was selected in the Disney Accelerator program (one of six companies)
Disney selected Polygon crypto in July 2022 to be a part of Disney’s 2022 Accelerator. In Disney’s business development programme, businesses are given advice by senior executives and a committed mentor. It was the only blockchain business that was picked.
Polygon is compatible with the Ethereum Virtual Machine (EVM)
Developers can create their own decentralised apps using the Ethereum Virtual Machine (EVM), a software platform. Ethereum has overtaken other decentralised programme platforms in terms of popularity, in part due to how user-friendly the EVM is. Since Polygon is EVM compatible, developers can easily port their apps to it. Aave and SushiSwap are just two of the popular Ethereum applications already running on Polygon.
Polygon price has increased 13,000% from last year
The year 2021 has been extremely exciting for polygon owners. Each Polygon token had a value of just under $0.02 in January. The price had increased by approximately 13,000% to $2.68 as of May 18, 2021.
Conclusion
Like all other crypto currencies, Polygon is a risk heavy investment option but it can be a small part of your investment portfolio. If you are a believer in the future of blockchain and Web3, Polygon is a good crypto currency to have in your portfolio.
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