Ethereum Layer 2 Altcoin Rankings and Polygon (MATIC) Updates

When you first get into cryptocurrencies, you usually will go with one that you’ve heard of or somebody’s referenced or maybe it’s an off-brand one but it’s always one that has higher exchange fees. That’s a big issue in the system.

Paul Barron NetWork, a famous Youtube Channel, host by Paul, is taking a look at recent Polygon (MATIC) updates and sentiment data rankings for the top Ethereum (ETH) layer 2 related projects and altcoins, giving you a chance to jump in some projects that are not only fast, low transaction fee but also security.

Ethereum (ETH)

The first update is about Ethereum (ETH). Ethereum whales load up on Polygon (MATIC) and ChainLink (LINK). Some of the best wallets out there that are on the Ethereum network have been loading up on Polygon and ChainLink as some of the currency markets start to recover.

Ethereum is in the process of going to a proof proof-of-stake consensus algorithm which essentially is going to reach re-shift their entire blockchain technology. They’re doing a lot in terms of revamping e 2.0 which is why these scaling solutions really come into play. 

Ethereum 2.0 is trying to explain why this scalability issue is such a big deal and why it’s important that something like a Polygon can keep on developing. 

Polygon (MATIC)

The second update is on Polygon (MATIC). Polygon is up for a potential 30% rally and this is after it had seen some pretty significant games gained. But they are attempting to rally to an all-time high. Polygon prices look to rise and poise by about 30%.

Polygon can hold the top position because of the deals, consensus, and many others. 

They’re starting to move out Plonky. Plonky is an interesting element it is zero-emission. They’re going to use a ZK roll-up or a proof-to-scale Ethereum to a billion users without compromising decentralized security achieving. This requires efficient proof systems but plonky is recursive what they call a SNARK.

SNARKs are really to help speed up the ecosystem and also in their particular case it’s a hundred times faster than existing alternatives and natively compatible with Ethereum remember. That is what a Polygon’s major plays. ZK roll-up is giving speed and security to the Ethereum network and that’s why we can see Polygon do really well.

Sentiment Data Rankings

The last update is about the sentiment data ranking of Ethereum Layer 2 related projects. Polygon (MATIC) of course leads the pack to 80.29%. Loopering (LRC) was the one that surprised Paul, so LRC is coming up the charts here at 75.11%. This means that a lot of people community-wise that are really jumping into what some of these projects in the open ecosystem of layer 2.

dYdX (DYDX) is at 74.36%. OMG Network (OMG) coming in and then Cartesi (CTSI) is jumping in on the low and Parastate (STATE) takes the last place at 68.37%. 

These projects like this are really creating a lot of activity around the communities and these communities are what drive price action.

Layer 2 Projects sentiment trend in Jan 2022

Layer 2 Projects Sentiment Trend in Jan 2022 | Source: Youtube 

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