Furthermore, Polygon already has many projects over the blockchain that adds to his reasons to invest. He stated that having a high Transaction Per Second (TPS) that Polygon provides is essential to lower the usage cost for users. Even after Elon Musk temporarily suspended accepting Bitcoin payments for Tesla, Cuban stated that the Mavericks (his basketball outfit brand) would continue to accept cryptos. Cuban is known for his advocacy of cryptocurrencies. He revealed that he has invested in Polygon and can be seen in his company's portfolio on their website. This means that BigQuery users can run queries on Polygon and access various blockchain-related data sets on its network.Īdditionally, billionaire investor Mark Cuban threw his weight behind this Indian Blockchain company on May 25. Google Cloud's BigQuery has included Polygon into its 1TB offering. This integration allows the users of BigQuery to tap into Polygon, thus improving its accessibility and positioning. It stated that it had completed a project of integrating the Polygon assets into Google Cloud's BigQuery. In addition to several other huge milestones, Polygon made a massive announcement on May 29. For instance, if a luxury brand wanted to make NFT's on their products, the trace and polygon collaboration would provide them with liquidity aggregation, total transparency and supply chain traceability. Currently, Trace is using it for NFT and DeFi with a hope to establish a go-to for retailers to bring NFT's to the public. The Trace Network is another one of Polygon's notable collaborations. M-Setu will act as an open-source bridge that allows enterprises to cross-operate using the ethereum blockchain. It aims to enable Infosys to provide disruptive technologies to its clients. Recently, Polygon announced that it would be partnering with the consulting wing of Infosys Ltd. This means that the investors have been taking a more extensive interest in the currency than ever before.
According to LunarCrush, Polygon's dominance on all the social media platforms has risen by 636% in the last three months. The growing adoption of Polygon also seems to boost investors' overall sentiment in the crypto market. With an increased demand for scalability networks, Polygon could onboard more projects. This enabled it to provide a layer one blockchain network with integrated scaling solutions for NFT, DeFi etc.Īmid increased congestion on the Ethereum Network and its rising costs, Polygon's astonishingly low fees are gaining traction. At that time, Polygon upgraded the system by bringing in promising metaverse projects and integrated Matic Plasma Chain. On Feb 9, 2021, MATIC announced its plans to rebrand itself as Polygon in an attempt to be recognized on a global scale. Faster and cheaper transactions facilitated by Polygon's side chain architecture generate a much-anticipated hype in price and public perception. Polygon's immeasurable growth is partly because of the surge in popularity of the Ethereum network and the adoption of its blockchain.
It includes the growing hype around Polygon, Google BigQuery announcement, and Mark Cuban's investment. There are several reasons behind the substantial rise of Polygon (MATIC). The coin has grown over 10,000% over the past year and over 125% in one month. The startup is based in Mumbai.Īlthough it has already captured a place among the top 15 cryptocurrencies, its founders have ambitious plans to make it the third-largest crypto project following Bitcoin and Ethereum.Īt the time of writing, the price of this cryptocurrency is Rs 143. Polygon - an Indian origin network was built by four software engineers - Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. Polygon is involved with some of the hottest areas in cryptocurrencies, such as DeFi (Decentralized Finance), DApp (Decentralized Application), DAO's (Decentralized Autonomous Organizations) and NFT's (Non-Fungible Tokens). It aims to provide distinct blockchains that can freely exchange value and information. Later it was rebranded as Polygon when its scope expanded. Originally, the project began as the MATIC Network.