Indians are known worldwide for their path-breaking innovations. Right from Aryabhatta’s zero to Gujarati thepla – we have done it all and left the world in awe. It was time that we showed the world how good we were at tech. JayntiKanani, Sandeep Nailwal, Anurag Arjun, and MihailoBjelic, the co-founders of India-based Polygon (formerly ‘Matic’), are keeping India ahead in the crypto world race.
How was Polygon started?
Nailwal was born in a small town in Nainital, Uttarakhand. Jaynti’s father was a worker in a diamond factory on the outskirts of Ahmedabad. Forget a $10 billion crypto venture, Jaynti’s ambition was to find a full-time job to pay off his family’s dues.
The co-founders, who were part of the crypto community back in 2017, got together to solve the huge-load problem that Ethereum was facing.
Polygon is a trump-card
The main idea behind Polygon is not to use it as a cryptocurrency. The goal is to improve Ethereum’s scalability tremendously. The matic network is a layer-2 scaling solution built around Ethereum to improve the transaction processing speed. You can execute thousands of transactions on Polygon. Polygon will then create cryptographic proofs of the transactions and put them on Ethereum in a single transaction. The users of Polygon, who are essentially developers building Dapps, can continue to enjoy the same development interface that they are used to, with the added advantage of low gas fees.
What does the future hold for Polygon?
When the leading cryptos were down this year, Polygon bagged a whopping 35% increase in value during the same period. Shark Mark Cuban has backed this giant, causing a lot of talk in the town. However, there is still no solid clarity on the legality of these transactions. Entire financial systems have been decentralized, and if India does not catch this bus on time, it could be left far behind.
Benefits of Cryptocurrency:
Cryptocurrency depends on the shared control framework. Allow us now to comprehend how one can be benefitted by exchanging this in capital market investment.
Cannot be turned around: Though many individuals can counter this that the exchanges done are irreversible, however the best thing about cryptographic forms of money is that once the exchange is affirmed. Another square gets added to the square chain and afterward, the exchange cannot be fashioned. You become the proprietor of that square.
Online exchanges: This not just makes it reasonable for anybody sitting in any region of the planet to execute, however, it additionally facilitates the speed with which exchange gets handled. When contrasted with continuous where you want outsiders to come into the image to purchase house or gold or take an advance, you just need a PC and a forthcoming purchaser or dealer in the event of digital currency. This idea is simple, fast, and loaded up with the possibilities of ROI.
The charge is low per exchange: There is low or no expense taken by the excavators during the exchanges as this is dealt with by the organization who are into the business of flipitmoney.
Openness: The idea is useful to the point that a large number of individuals who approach cell phones and PCs can get to the digital money market and exchange it whenever anyplace. This openness makes it significantly more worthwhile.