The Polygon (MATIC) Network is Growing Due to Increased Adoption

Polygon (MATIC) has grown over the past year, but things are still looking up for this blockchain network. Polygon has garnered support from a wide range of businesses and organizations across the globe, including the Swiss Postal Service and the Dolce & Gabbana NFT line.


The Polygon Blockchain Network is Growing

Polygon's popularity as a scaling solution for Ethereum (ETH) grows, with new applications being created on top of it. For example, the Italian luxury fashion brand Dolce & Gabbana used the UNXD marketplace to create a new non-fungible token (NFT) line on top of Polygon.

This is one of the ways Polygon is luring businesses and big corporations to its ecosystem. The NFT collection was sold for 1,885 ETH, which is about $6.5 million at the time of writing.

However, this was not the first significant effort launched in recent weeks on top of the Polygon blockchain. Indeed, Switzerland's Postal Service has been collaborating with Polygon to create the country's first crypto stamp.

This project comprises a crypto stamp with a corresponding physical picture. Both types of stamps may be collected , swapped and traded online. This is one of the most recent efforts pushed by a non-blockchain business to bridge the gap between real stamps and internet collectibles.

Swiss Post has a history of releasing unique stamps with unique designs each year. The stamps are constructed of various materials and are available for purchase by the general public. However, this would be the first time they would introduce a new digital stamp on top of Polygon.

Each design would be a non-fungible token kept on the Polygon Blockchain. This is something we've seen with various collectibles and efforts in the bitcoin industry in the past.

Polygon is one of the world's biggest blockchain networks. It is the 22nd most valuable virtual currency, with a market value of $8.96 billion. Each coin on this network is worth around $1.33.

Polygon was designed as an easy-to-use Ethereum scaling platform. The network can support a huge variety of apps and solutions thanks to the Polygon SDK, making it a strong alternative to existing blockchain platforms. Polygon is essentially transforming Ethereum into a full-fledged multi-chain system.

Share:

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Hot Topic

Did the Ethereum Merge Go Wrong?

Ethereum is in a state of instability as a result of the merger. Was it all worth it? Some Ethereum supporters aren't so certain. What a...

counter, at the bottom of the page, in a table, div or under a menu.