Polygon, formerly known as Matic has been added to the list of Mark Cuban’s company portfolio after it appeared on his company’s website thereby reaffirming his investment.
The Ethereum-based scaling solution now joins the list of blockchain solutions backed by Mark Cuban and looks to grow under this partnership.
Mark Cuban is known for sticking with cryptocurrencies. After Elon Musk cut ties temporarily with Bitcoin due to climate concerns, Cuban stated that his basketball outfit (the Mavericks) will still accept payment with the cryptocurrency.
Polygon is currently growing exponentially and its token went up above 100% in 24hours with more added utility.
The Matic Network rebranded to Polygon in a bid to become “Ethereum’s internet of blockchains”. The network hopes to become the multi-chain ecosystem of Ethereum compatible blockchains.
The goal is for different blockchains to have the ability to share information and exchange value easily without technological barriers.
The platform allows developers to launch with a single click their custom Ethereum compatible blockchain. Polygon is an innovative project that seems to grow the initial Matic Network which was a simpler Ethereum layer-2 scaling solution.
Polygon takes the project to a whole new level with different blockchain scaling mechanisms which also include previous Matic developments like the Matic Plasma. With this development, transaction speed is increased without comprising user experience and security.
Fees are also expected to go lower with the integration of Polygon. The Indian crypto technology has risen more than 8000% in the past 12 months and with a market capitalization of over $10 billion, it is now among the top 15 largest cryptocurrencies in the world.
On the Flipside
What Does This Mean?
Mark Cuban’s investment in Polygon comes with many promises. As a billionaire who has previously backed other cryptocurrencies like Bitcoin, Ether, Dogecoin, etc. Polygon can expect more adoption of $Matic in the coming weeks.
Cuban once revealed that his portfolio is made up of 60% bitcoin, 30% ether, and 10% other coins and has continued to allow his basketball outfit to accept payments in Bitcoin is an influential figure in the crypto-space.
Mark Cuban is pushing to integrate polygon with Lazy.com as part of his plans to push the platform forward. The integration will allow users to easily display non-fungible tokens.
As the demand for layer-2 scaling solution continues to rise, Matic coin has been on the rise making tremendous gains in the past week. The high transaction fees on the Ethereum mainnet and the vast utility of Polygon are among the reasons for Mark Cuban backing the company.
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Source: Cryptocurrency - investing.com
