This Indian-based cryptocurrency Polygon MATIC was developed to do transactions on the blockchain of Ethereum in a much faster and more economical way. Those who have been using or bitcoin trading recently understand its importance well.
Ethereum’s platform is to date the most famous and globally accepted platform for all decentralized applications (dApp), but on the other hand, that fame has directed to quite a bit of overcrowding. Users all around the globe are usually complaining about the transaction speed as well as the huge transaction (gas) charges.
Due to its potential user case, Polygon has already caught a lot of the eyes of potential buyers and investors. Presently, this crypt project stands in the 20th position by market capitalization. Let’s have a look at all the important factors that you need to know before investing in Polygon MATIC. For trading purposes use exchange platforms like Bitcoin Trading Software and Coinbase.
Pros of Investing in Polygon (MATIC)
When people think about investing in Polygon, they check out the price prediction. According to the price forecast of various analysts depending on the basic as well as technical analysis, Polygon is expected to flourish exceptionally. Depending on its network, the polygon has a great future predicted.
Different Price Patterns from Bitcoin
Polygon is known for trading on crypto exchange platforms such as MATIC. The recent bearish stance of the crypto market that has been removed from the previous profits of 2021 from the market is accredited to the downfall of December 2021. Though all the digital assets are altogether referred to as cryptocurrencies, MATIC and all others are known as alternate coins or altcoins. What all alternate cons usually do is follow the price pattern of the very first cryptocurrency, Bitcoin. A clear example is the behavior of MATIC in the first market drop in the year 2021.
Polygon Scales Much Faster, Inter-operable, and Consist of 100 Plus Partnerships
In the fall of 2018, audit and assurance, tax, risk management, risk, and financial advisory and consulting firm, Deloitte announced five significant things that are must for blockchain to get globally accepted. Deloitte predicted that blockchain can transform the financial region but then again has unresolved issues with the speed of transactions.
Other than these, there was the absence of standardization that risked limiting its growth and development. The five significant issues that were pointed out by the consultants were improved performance, interoperability, compact complexity and rate, supportive guidelines, and lastly more collaboration.
If you visit the webpage of this crypto project, you will observe that some of the solutions Polygon aims to offer are in line along with a few of the hurdles announced by Deloitte almost three years ago.
The platform of polygon assists various other applications and blockchains to work in partnership with its network and others in a speedy scaling way that reduces the cost to a great extent. Apart from this, Polygon cryptocurrency has an aim to eliminate the intricacy of scalability and as instant blockchain transactions.
Furthermore, Polygon makes more than 65,000 transactions per block or each sidechain. This tells us that Polygon is capable of doing 65,000 transactions every second.
Some of the most famous partnerships of Polygon include Curve Finance, Polymarket, Sportx, Augur, Reef Finance, StakeHound, UniLend, OpenDAO, dYdX, Tellor, Chainlink, the Band Protocol, Umbrella Network, and a lot more.
Cons of Investing In Polygon MATIC
The benefits of investing in MATIC tokens were too good that there is no space left for drawbacks but there are some. Below are a few cons of investing in this crypto project.
Decrease in Momentum after Ethereum’s Consensus Mechanism is Fully Implemented
The reason behind the requirement of layer 2 scaling resolution was that the users of Ethereum cryptocurrency’s decentralized finance applications (dApps) complained regarding the slow speed of processing.
This directed to upstarts like Binance and Tron that used to operate on the Ethereum platform as ERC20 tokens shifted to free blockchains that were able to scale comparatively quicker than Vitalik’s invention.
Worldwide Crackdown on Crypto
Seeing the ongoing bearish point of view of the market ascribed to crypto issues related to mining issues from China, robust governance could put an end to investments made in MATIC tokens. Because of its much lesser price, Polygon’s token can turn into one of the knocks of crypto projects internationally.
It will not be wrong to say that investing in Polygon’s token MATIC is one of the best decisions people take. As per the experts, MATIC has the potential to reach an average value of $4.208 and the minimum value of $3.576. The best possible price expected is $4.8392 by the end of this year.