Polygon and Optimism led the cryptocurrency markets last week. Both are layer 2 scaling solutions for Ethereum.
Polygon and Optimism have led the cryptocurrency markets over the past week. Both are layer 2 scaling solutions for Ethereum, with Polygon Matic pioneering the ETH L2 market. Both MATIC and OP were up 55% and 50% higher over the previous week, respectively.
We have speculated whether or not we are still in a bear market due to the leadership of these projects on the current uptrend in the cryptocurrency markets. Examine the factors that make these L2 Ethereum chains outperform the rest of the market.
Optimism – Optimism is the key to success
Simplicity, pragmatism, sustainability and, of course, optimism form the foundation of optimism, which is based on a strong design philosophy. These pillars are crucial to understand as they have a significant impact on the general disposition of optimism.
For the features it offers, Optimism is designed to be as simple as possible. A secure, scalable, and adaptable L2 system should, in theory, have only the bare minimum of moving parts. Compared to other more complicated L2 designs, Optimism’s design has many important advantages due to its simplicity.
A blockchain that benefits from the security of another “parent” blockchain is called an “optimistic rollup”, which is just a fancy way of saying that it does. For example, rather than providing their own consensus method, optimistic roll-ups use parent chains such as PoW or PoS as the basis for consensus. The parent blockchain in the Optimism instance is Ethereum.
Polygon (MATIC) – Revolutionary Layer 2 Cryptography
The first organized and user-friendly platform for infrastructure development and scaling on Ethereum is called Polygon, formerly known as Matic Network. Its main part is Polygon SDK, a customizable framework that facilitates the creation of many types of applications.
Ethereum is essentially converted into a fully functional multi-chain system by Polygon. This multi-chain scheme resembles others like Polkadot, Cosmos, and Avalanche. combines the advantages of openness, a strong ecosystem and the security of Ethereum.
According to its co-founders, Polygon, the most popular scaling solution for Ethereum, attempts to address one of its most frequent criticisms and utilize Ethereum’s security and decentralization.
Although Ethereum is decentralized and difficult to censor or take down, it is extremely slow and expensive to use. Both of these difficulties are intended to be solved by scaling solutions like Polygon.
Big Eyes Coin (BIG) – Will soon reach $10 million
Big Eyes Coin has joined the cryptocurrency market at a precarious time due to the continued series of industrial disasters this year. BIG, a meme coin with a cat image that aspires to protect the sea, a vital component of the global environment, while simultaneously moving capital into the decentralized finance sector, continues to pique the curiosity of cryptocurrency experts.
The blockchain network intends to do this by distributing 80% of the 200,000,000 tokens now available to organizations that promote ocean conservation.
The Big Eyes Coin presale is now in its sixth round. A brand new meme cryptocurrency called Big Eyes Coin has grossed nearly $10 million. Meme coins provide a delicious and fun element to the world of cryptocurrency.
To learn more about Big Eyes Coin (BIG), click below:
Disclaimer: The information contained herein is provided without regard to your personal circumstances and should therefore not be construed as financial advice, investment recommendations or an offer or solicitation for trading in crypto- currencies.