A number of new crypto-projects have emerged from Ethereum, although some projects solve some of its underlying problems currently. Polygon, formerly known as MATIC, and Graph Token
A key part of the future of blockchain will be the underlying features of Ethereum. In future, the growth of decentral finance, NFTs and even a scalable network would contribute to the environment of ETH.
A number of new crypto-projects have emerged from Ethereum, although some projects solve some of its underlying problems currently. Polygon, formerly known as MATIC, and Graph Token are several ventures with the former already ruffling feathers into the ecosystems, and may see a major increase in the future.
MATIC Mantra Ethereum Scaling for sidechains
Since the DeFi period started last year, transactions on Ethereum have been out. Average petrol costs were never higher and the importance of scaling solutions in the market has only increased. Enter Polygon, also known as Matic.
Though MATIC is by no means a new network (launched in Q2 2019), its utility currently works with overload and high transaction costs in response to the project.
Indeed, recent data indicate that the PoS sidechain in Polygon has reported huge transaction volumes, exceeding ETH by 18 percent this week. Here it must be noted that last week’s 573,000 transactions were arbitration transactions, i.e. the multi-platform buys/sales to bear some benefit because of price differences.
However, the price of MATIC certainly benefited from ETH’s existing scaling responsibility and MATIC may continue to rise in its charts against Ethereum until an update to sharings is introduced by the ETH 2.0.
In 2021, the value of MATIC increased by over 5,000%. Although the market appears to be saturated, it can still grow because DeFi’s hype remains relevant throughout the current bull race. After announcing that $150 million fund to support defi adoption, Polygon even made a move in that direction.
Token graph – that grows with ETH
MATIC benefits from the inability of ETH to scal, Graph Token or GRT expect to climb with Ether. The blockchain of Ethereum possibly has the most numerous data collected by building complex ventures and side networks on its parent chain. The developer can search for data from Ethereum via simple queries with Graph’s protocol for indexing.
In the future, such open-source blockchain indexing protocols will lead to chain reorganization, query compliance and increase app experience for DeFi applications.
The potential is large and the number of queries in the diagram also appears to be similar. For example, 600 million queries are processed every day, based on statistics, and more than 19 billion processes are processed in March alone. There has also been an increase in Ethereum DApps and EVM chains. The volumes of queries can be expected to increase parabolically with DeFi continually evolving.
Right now, the GRT price is not the growth that the network saw late. However, it is very likely that the previous $2.88 could be reached. Thus, GRT can be projected to increase by at least 75%, if not more, if the bull market remains intact during the next few weeks or months.