Polygon is an Ethereum scaling solution driving inter-chain connections that eases ERC-20 gas fees. The versatility it offers has helped its MATIC token draw rising interest in recent months.
BTSE is pleased to announce the listing of Polygon (MATIC) on its platform. The move brings further efficiency and liquidity for traders, while reinforcing BTSE’s commitment to providing them with a growing range of digital assets offerings.
Polygon is the first easy-to-use, well-structured platform for scaling Ethereum. Its major framework, Polygon SDK, is a flexible and modular system that caters to building different types of decentralized applications, or DApps. Polygon enables the creation of stand-alone chains, ZK Rollup chains, and Optimistic Rollup chains.
BTSE is also integrating Polygon for its BTSENFT While Label Solution launched in June. The B2B solution, which enables clients to set up their own NFT marketplaces, is the first of its kind to provide comprehensive fiat multi-currency support. The integration helps BTSE’s NFT white-label clients overcome congestion and high NFT minting costs.
What Exactly is Polygon?
Also known as the “Internet of Blockchains” for Ethereum, Polygon as a blockchain scalability platform presents a solution to some of the problems that Ethereum currently faces – like lesser TPS (transactions per second), poor user experience, and high transaction fees, among others.
Polygon aims to offer its users separate blockchains so they can exchange information freely. Developed in India, it is associated with some of the latest innovations in the crypto space, such as non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), DApps, and of course, DeFi.
MATIC’s value has surged by over 6,000% this year, priced at $1.12 on September 22, 2021. Its market cap is over $7.4 billion. Growing investor interest has contributed to the coin’s impressive performance, while social media buzz surrounding the token has reflected its higher prices over the past six months.
Expanded collaborations have also helped raise the project’s profile, like its integration with Google BigQuery. Polygon also recently announced it will soon launch its new division, Polygon Studios, enabling artists and brands to create and launch NFTs.
Rising Investor Interest
Polygon’s rising popularity is partly a result of the adoption of Ethereum’s blockchain and the increased mainstream acceptance of the Ethereum network. The cheaper and faster transactions enabled by the Polygon chain architecture create a much-expected hype in the coin’s public perception and price.
Amid the rising fees and heightened congestion on the Ethereum network, Polygon’s significantly low transaction fees are making a huge difference, while it is also able to take on more projects due to the surging demand for scalability platforms.
Polygon recently partnered with Infosys Consulting to set up M-Setu, a hybrid blockchain to facilitate more secure and efficient communication between insurance providers. The project will serve as an open-source system that lets companies use the Ethereum blockchain for their cross-operation tasks.
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