Polygon MATIC / USD is a Layer 2 scaling solution designed for Ethereum, which aims to improve speed while reducing the cost of transactions within the network.
This is achieved through the use of side chains that work with off-chain computation and remain secure through Proof of Stake (PoS) validators.
The integration of the Mina protocol as a growth catalyst
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On September 9, Mina Protocol announced that it was working with Polygon to implement protocol support on Polygon PoS.
This bridge is intended to allow developers who build decentralized applications (dApps) on Polygon to take advantage of privacy and auditability through Mina’s zs-SNARK based protocol.
The Mina protocol has been touted as the smallest blockchain in the world because it is only a few kilobytes compared to Ethereum’s 300 gigabyte blockchain.
This means that synchronizing the Mina network is easier for the average user and therefore requires minimal hardware requirements.
This allows any user to run a full Mina node directly from their smartphone.
That being said, this is made possible through the use of zero-knowledge evidence, which is a type of cryptography that focuses on privacy.
Since developers can now build apps on Polygon through the use of Mina’s zk-SNARK or Snapps recursive apps, we can expect increased usage and, as such, higher demand for it. MATIC token.
This demand could push the value of the token much higher, so let’s see if this is a worthwhile investment.
Additionally, last month Polygon also announced plans to create a Decentralized Autonomous Organization (DAO), which has also increased attention around the MATIC token.
Should you invest in Polygon (MATIC)?
On September 10, Polygon (MATIC) was valued at $ 1.364.
If we want to do a solid analysis of the token, we will have to compare it to its record value as well as its performance in August.
When we look at MATIC’s record value, it occurred on May 18 and was $ 2.62. Its all-time highest value is 92% higher or $ 1,256 more than its September 10 value.
The lowest point MATIC saw was August 4, where it fell to a value of $ 1.012.
By comparison, its highest point was on August 21, where it was worth $ 1,694.
Here we can see an increase in value of 67% or $ 0.682.
According to data from IntoTheBlock, we can see that MATIC recorded $ 1.14 billion in transactions over $ 100,000 in the last seven days.
Additionally, in the past seven days, MATIC has recorded $ 240.31 million in total foreign exchange inflows as well as $ 200.48 million in total foreign exchange outflows.
With all of this in mind, and thanks to the integration of the Mina protocol, we can expect the value of the MATIC token to increase to $ 1.677 by the end of September, making it a worthwhile investment.
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