↑ Polygon's Noteworthy Progress: MATIC to POL Migration, Increased Transactions, and Notable Integrations

Polygon has announced it will migrate from its MATIC to POL token in September as part of its Polygon 2.0 upgrade. This is an important step towards unifying the Polygon ecosystem. The total number of Polygon transactions has now surpassed 4 billion, emphasizing the platform's high usage rates. Polygon's new ZK Proving system 'Plonky3' has been introduced and is ready for production. This open-source technology will significantly advance zero-knowledge proving, a fundamental component of blockchain privacy.

Investor activity around Polygon has surged by a remarkable 1,400%, as evidenced by increased 'crypto whale' activity. Despite market turbulence, Polygon managed to perform well, with its trading value up 8.7% over the last week. However, the platform is also facing competition, with some experts suggesting Ethereum's 'Dencun' could emerge as a rival.

Polygon's native token MATIC has shown fluctuating performance, witnessing a year-end low but then rallying to achieve 12-month highs in a Bitcoin-led upsurge. With the migration from MATIC to POL underway, holders of the token have the power to significantly influence its future.

At a global level, top Italian banks have experimented with a €25 million digital bond issuance leveraging Polygon's technology as part of an ECB trial. Furthermore, Sony Bank is testing stablecoins on Polygon's blockchain, marking another significant integration of traditional finance and crypto technology. 'Type 1 Prover', a milestone set by Ethereum's Vitalik Buterin, has been achieved by Polygon as well, consequently strengthening its standing in the market.

Polygon Coin News Analytics from Fri, 15 Dec 2023 08:00:00 GMT to Thu, 18 Jul 2024 21:00:00 GMT - Rating 7 - Innovation 9 - Information 8 - Rumor -1