Investing.com - One of the promising currencies that has managed in recent weeks to attract the attention of traders and institutions alike to carve out a leading position among the big players.
The Polygon Matic coin managed to record meteoric heights over the past weeks, jumping to the 15th place among cryptocurrencies in terms of market capitalization, with nearly $14 billion.
Urgent: Very positive news
Polygon announced a deal worth approximately $500,000,000 in an effort to lead the race for Ethereum scaling solutions.
Polygon unveiled a massive acquisition worth hundreds of millions of dollars to expand its stockpile of scaling technologies, an Ethereum layer 2 solution.
Polygon (MATIC) announced its acquisition of Mir, a startup focused on developing Zero-Knowledge Technology (ZK).
ZK-rollups are Layer 2 solutions that collect hundreds of off-chain transactions and produce a cryptographic proof that is instantly verified by the mainchain, resulting in a faster downtime.
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By acquiring Mir and its iterative proof system Plonky2, MATIC hopes to not only improve on existing ETH-compatible ZK pools but also create pools that work with the Ethereum Virtual Machine (EVM).
“The ZK Scale is the future of Ethereum, but there are no scalable EVM-compatible ZK Rollups yet.
Such a deal would allow the Polygon network to balance out proof generation to get much better performance, along with the current proof systems powered by Ethereum being inefficient and slow.
Very good news
“We are announcing Plonky2, an incredibly fast, iterative proof system that is Ethereum-friendly, and we believe this engineering breakthrough will be of huge added value to the crypto community and open new avenues for scaling Ethereum,” the company said.
Polygon says the Mir system and Plonky2 have been shown to generate recursive directories in 170 milliseconds on a laptop, making it ideal for building an EVM-compatible ZK rollup.
According to the statement, the maximum amount committed for the transaction is $100 million and 190 million MATIC tokens, with MATIC exchange at $2.07, the transaction value could reach $493 million.
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Amun, the leader in DeFi index products, earlier announced the launch of the Polygon Index token Ecosystem (PECO), according to a joint release with CryptoSlate.
The PECO token is available through the Amun platform, which is a catalog of top projects being built on Polygon, a platform for scaling Ethereum millions to Web3 - giving users targeted exposure to the entire Polygon ecosystem, rather than just projects that live on both chains.
Collaboratively created by Amun, the Polygon Foundation, and the Polygon Enterprise Leadership, PECO is Polygon's first ecosystem index token.
This configuration provides an alternative to just MATIC nodes, rather than providing a token that grows with the entire Polygon ecosystem.
The token can be minted and burned at any time with a single click on the Amon platform, and is also available through other major exchanges such as SushiSwap.
To expand investors' access to the Polygon ecosystem, PECO has both Polygon and Ethereum.
Ethereum users can buy, mint or copy PECO tokens with a single click. Amon's integration with Polygon Bridge makes the process seamless for the user.
“Given the growth of blockchain ecosystems outside of Ethereum, we believe that index tokens that give users the opportunity to learn about the best projects in an individual ecosystem is vital to providing users with these new platforms,” explained James Wang, Head of Tokens at Amon.
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Sandeep Nailwal, Co-Founder of Polygon, added, “Recently surpassed Ethereum in daily active addresses, Polygon's total DeFi value has been secured at more than $4 billion.
“While Polygon was initially developed as a sidechain to enable the computation of the Ethereum mainnet, it has evolved into the most popular interoperability and scaling system for building Ethereum-compatible blockchains.”
With developers and NFT projects around the world flocking to Polygon, we are witnessing a continuous growth in the number of innovative projects achieving incredible success.
Polygon is currently home to the largest number of Dapps, over 500, outside of Ethereum - including Sushiswap, Curve, Aave, Balancer and Kyber.
Mercy bullet.. I'm out of patience
The promising currency price, Polygon, rose from a bottom near $0.0041 levels, to a top near $2.4 levels, with an increase of more than 60000%.
According to analysts, the speed of the network, the reduction in costs and the development of projects offered by Polygon give it a distinguished position in the cryptocurrency market.
Since the beginning of the year, Polygon has risen nearly 11,000%, jumping its market value to nearly $14 billion, ranking it 15th among cryptocurrencies.
Polygon is trading during those moments of trading today, Monday, at levels near the two dollars, down less than 5%, while rising more than 7% in a week and 14% in thirty days.
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The article does not express a recommendation or nomination, but rather a mere monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.
