Press release. Recently, LBank Exchange held an AMA meeting with the Polygon team to discuss Polygon’s achievements, cooperation, NFT and game market, Nightfall solutions, future plans, etc. This is the summary of this AMA.
Ethereum is the preferred blockchain development platform, but it has limitations such as low throughput, poor user experience, and lack of sovereignty. As a protocol and framework for building and connecting a blockchain network compatible with Ethereum, Polygon breaks through these limitations by aggregating scalable solutions on Ethereum and supporting the multi-chain Ethereum ecosystem.
Polygon outperforms Ethereum in terms of active users
Polygon, as a Layer 2 solution aggregator built on Ethereum, has made great achievements since its inception. Its POS chain has more than 2,000 DApps and handles more than 7 million transactions per day. In fact, Polygon now has more daily active users than Ethereum.
Polygon network’s token MATIC has been launched on trading platforms such as LBank Exchange, and the current cross-exchange trading volume exceeds 1 billion. The Polygon team’s goal is to allow more people to hold MATIC tokens and hope to see MATIC’s transaction volume on LBank Exchange continue to grow.
Expanding the Polygon ecosystem
With the ability to bring thousands of new users to the blockchain, NFT and the gaming market are strategic areas that Polygon continues to focus on. There are already some of the biggest game projects on Polygon, such as Decentral Games, Sandbox, Somnium Space, Vulcan Verse, etc. As for NFT projects, there are OpenSea, Lazy.com, Autograph, etc.
The team will introduce more such games and NFT projects on Polygon so that its community can enjoy more artworks and fun. In addition, Polygon allows large-scale scalability. Compared with Ethereum, Polygon’s casting cost is 100,000 times cheaper on average.
Polygon also has products designed specifically for corporate customers who need privacy and scalability, such as Nightfall, which is a unique and privacy-focused Rollup that combines optimistic aggregation with the zero-knowledge (ZK) encryption commonly used in ZK Rollups Combine. It creates a scalable and proprietary blend of two popular technologies.
Polygon Nightfall has the power to bring many large companies to the blockchain. The team believes that this will lead to a large number of transactions on Polygon and further add new projects and users to the Polygon ecosystem.
Big plans for the future
The Polygon team has made some big plans ahead of time. In terms of technology, Polygon is investing heavily in ZK and ZK Rollup technologies. For example, the team has spent US$250 million to acquire Hermez, a decentralized, open source ZK Rollup that targets security, low-cost, and available generations. Coins are optimized to transfer on the wings of Ethereum.
Polygon also acquired 4 other teams to build more ZK Rollup chains in order to achieve the goal of building a highly scalable EVM to enable ZK Rollup technology. In addition, Polygon will also update its POS chain and details of the implementation of EIP 1559.
On the business side, Polygon also has many exciting updates, planning many large DApps and integrations. It is worth noting that Arjun, Polygon’s head of growth, pointed out that LBank is strengthening its global brand. He also assured that the love of the community enables the team to achieve its goals, so he will continue to cooperate with LBank Exchange to bring more Polygon projects and tokens to the community. The Polygon team will continue to post information on its official social media accounts (such as Twitter) to reveal more details about future plans and latest updates.
Polygon is a layer 2 aggregation and scalable solution on Ethereum, supporting the multi-chain Ethereum ecosystem. The platform solves the blockchain challenges without sacrificing security, such as high gas fees and slow speed. It is a protocol and framework for building and connecting a blockchain compatible with Ethereum.
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LBank is an ever-evolving encrypted trading platform that provides secure transactions for users around the world. The team is determined to create professional encryption asset integration services and create a convenient trading platform. It has been welcomed by more than 6.4 million users worldwide.
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