A Coin Bureau host claimed that Polygon ($MATIC) would profit from ETH’s move to a PoS network. It’s a guideline and structure for developing and linking ETH-compatible blockchain platforms. According to the website, Polygon collects measurable services on ETH, enabling a multi-chain ETH-community.
Twitter Headlines by a Polygon Consultant
A Polygon consultant who joined the company earlier in 2022 came to Twitter on 18th May last year to address some of the company’s misunderstandings. The following are some of the headlines from the Twitter post: There are two types of plasma chains: Polygon Proof-of-Stake Chain and Matic Plasma Chain. The Proof-of-Stake chain is where the overwhelming bulk of the action takes place.
The Proof-of-Stake chain is an Ethereum ‘sidechain’ because it features its permissionless verifier set (100+ users stake $MATIC), meaning it will not rely on ETH’s protection (or ETH’s Proof-of-Work). The Proof-of-Stake chain goes further than a normal sidechain, relying on and committing to ETH (generally referred to as the commit-chain by some people). It is based on Ethereum since the validator/staking functionality of the Proof-of-Stake chain’s implemented as an ETH-network smart contract.
There’d be no Polygon Proof-of-Stake chain if the ETH-network went down. Also, the Proof of Stake chain is periodically devoted to ETH.
It features two advantages: it gives the Proof-of-Stake chain ETH-based finality, and it may aid recovery in any disastrous incident. Using the ETH-blockspace and investing to safeguard the contracts and checkpoints means Polygon will make payments to ETH.
Coin Bureau’s Host Belief
According to the host of Coin Bureau Guy, Polygon would certainly surge with ETH’s widely expected improvement in a YouTube clip aired on 31st March. Guy predicted that ETH’s move to PoS will have little impact on the Optimization of the smart contract network, resulting in an increased need for alternative L2 solutions like Polygon.
Guy told The Daily Hodl that the update is expected to boost ETH’s need, making it more challenging to utilize. As a result, L2s may be required more frequently than ever before, and Polygon is well situated to capitalize.
The host of the Coin Bureau argues that the increased supply of $MATIC has hampered the token’s price appreciation during the past year. Guy demonstrated that according to the program’s investment timetable, $MATIC’s distribution volume has risen by about 600M tokens in the past 4-months.
Guy concluded that the Polygon core was exerting significant selling pressure on the cryptocurrency, restricting its price achievement during the previous year. The Guy was apprehensive about the price prognosis for $MATIC, albeit forecasting a rebound after the ETH improvement, because of the project flatlining and selling pressure. He continued, this portrays a rather bleak image for $MATIC’s pricing possibilities, but it all hinges on the need that the following stages on the roadmap for Polygon could generate.
