Why Polygon Soared More Than 13% Today
Cryptocurrency Polygon (CRYPTO: MATIC) is up over 13% in the last 24-hour trading period, building on its meteoric rise this past year (up nearly 17,600%). As for this most recent jump, traders are piling into the cryptocurrency after a pair of news items today: Blockchain protocol and decentralized application (dApp) ecosystem Uniswap (CRYPTO: UNI) is now live on Polygon; and the Opera (NASDAQ: OPRA) web browser is integrating Polygon into its services.
Image source: Getty Images.
Polygon hopes to be a prominent part of "Web 3.0," a further decentralization of the internet with more advanced open-source services and a full-blown digital economy. Specifically, Polygon touts being "Ethereum's (CRYPTO: ETH) Internet of Blockchains." As more projects are built using the Ethereum network, Polygon saw the need to build a framework that improves on Ethereum's weaknesses (like slow transaction time and high fees) and to help connect the ever-expanding ecosystem of developers and apps.
Source Fool.com
