• Tom Dunleavy, a Messari analyst, singled out Polygon as a top-performing crypto asset.
• He highlighted the high daily active users on Polygon and the token burning process which helps to increase the price of tokens in circulation.
• Dunleavy also recognized Polygon for its zero-knowledge proofs, Decentralized Social (DeSo) and partnerships with various institutions that are leveraging its network operations and applications.
The Rise Of Polygon In Business Use Cases
Messari analyst Tom Dunleavy recently singled out Polygon as a top-performing crypto asset, praising it for its growth potential due to certain traits. The Ethereum layer-2 scaling network has seen huge success evidenced by its large number of daily active users, with 90% or more of token distribution being released in Polygon contracts. Additionally, MATIC tokens are gradually burnt over time which helps to increase the price of those remaining in circulation.
Zero-Knowledge Proofs On Polygon
Polygon is leading the way in terms of zero-knowledge proofs and optimistic rollups which secure transactions on the network without compromising security guarantees. This allows users to transact quickly and cheaply compared to other networks such as Tezos or Solana which have higher transaction capacity but expensive gas fees for use cases.
Decentralized Social (DeSo) On Polygon
The Lens Protocol is an example of decentralized social graph present on the platform that developers can use to create social dApps while enabling users to take control over their assets. This is increasingly important given rising risks associated with centralization across many online services today.
Partnerships With Institutions
Polygon has made several strategic partnerships with major companies like Stripe, Instagram, Adobe among others to develop innovative solutions using their technology. Today, it supports more than 53,000 dApps (decentralized apps) across various industries reiterating its position at the forefront of blockchain technology development and utilization within businesses worldwide.
Conclusion
Overall Tom Dunleavy’s recognition of Polygon’s success highlights how far it has come since launching in 2021 and what potential lies ahead for this blockchain platform especially given its strong partnerships with established players across many industries. The features mentioned above make it an attractive option for developers looking for scalability solutions coupled with low transaction costs giving them scope to create innovative products that leverage blockchain technology capabilities fully without sacrificing security assurances typical with decentralized networks