The role of polygon (pol) in the crisschain trade and in market trends **
While the world of cryptocurrencies is developing, two important players have developed as managers on the cross-chain trade market: Ethereum (ETH) and Solana (Sol). Among these two, Polygon (POL) made aware of its innovative approach to scaling cross-chain transactions. In this article, we will deal with the role of polygon at Crisschain trade, analyze current market trends and examine what comes next for this promising project.
What is Crosschain trade?
Crisschain Trading refers to the process of transfer of assets via various blockchain networks without affecting security or integrity. With this approach, users can use the strengths of several blockchains such as Ethereum for Smart Contract functionality, Solana for high-speed transactions and others.
Polygon (pole) and its role in the Crisschain trade
Polygon is a Layer-2 scaling solution, which is based on the performance and scalability of blockchain applications on Ethereum. His main goal is to reduce the energy consumption for the consensus salgorithm (proof-of-stake consensus) from Ethereum and at the same time maintain seamless user experiences.
This achieves polygon through various innovative features:
- layer 2 scaling : polygon enables the provision of decentralized applications (DAPPS) via Ethereum, whereby the need for a separate layer 2 protocol.
- Optimization of transaction fees : By optimizing the gas consumption and reducing transaction fees, polygon helps to minimize the environmental impact associated with crosshain transactions.
- Faster transaction times : The improved scalability of polygon enables faster transaction processing times, so that you are more suitable for high -frequency trading and real applications.
Market trends
During the market further, several trends have arisen:
- layer 2 scaling solutions : shift-2 scaling solutions such as polygon, polkadot (KOL) and Cosmos (atom) gain the increase in the demand of users who are looking for better performance.
- Crisschain Trading : Crisschain trade has become increasingly popular because more assets are integrated into various blockchain networks and the need for scalable solutions such as polygon are promoted.
- NFT market
: The rise of non-mixable marketplaces (NFT) has led to an increase in demand for crisschain trading platforms that support several blockchains.
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Regulatory environment : If the governments worldwide determine regulations and guidelines for cryptocurrencies, market participants adapt to these new requirements.
Current market performance
As a polygon, the prices have increased steadily:
- The current price of pole is 1.50 USD (from March 2023)
- The 24-hour trading volume is approximately $ 100 million
Diploma
Polygon (POL) has developed as a leader on the Crisschain trade market and offers innovative scalability solutions that improve performance and reduce costs. Since the market trends are developing, the role of polygon is probably expanded into more complex use cases.
While the supervisory authorities around the world take steps to determine guidelines for cryptocurrencies, the adaptability and commitment of polygon ensure innovation for its position as an important player in the industry. In view of the ongoing technological progress and increasing introduction, we can expect significant growth in the market value of polygon in the coming months and years.
Liability exclusion
This article only serves for information purposes and should not be taken into account as investment advice. Always carry out thorough research before making investment decisions and take into account your own risk tolerance and financial goals before investing in cryptocurrencies or other digital assets.