Polygon Labs continues its long line of educational activities in the Web3 field by launching “The Value Prop,” an open source database showcasing the values and use cases of blockchain.
After announcing the version 2.0 of Polygon, which on the technical front will improve the scalability and interoperability factors of the layer 2, here is another fantastic news, this time in the field of communication and indexing.
Full details in the article.
Summary
Polygon Labs and the use cases of Blockchain with “The Value Prop”
Yesterday, Polygon Labs, a software development company behind the Layer 2 blockchain scaling solution that takes its own name, launched “The Value Prop” website.
It is an open source database that lists the different use cases that blockchain technology covers by specifying the projects and applications in the market.
It functions as a sort of “Wikipedia for the crypto and Web3 world” in which the ultimate goal is to educate the public and update them on the latest innovations in the blockchain industry, which is always on the move and ready to incorporate new improvements every day.
“The Value Prop” contains over 300 applications operating in 39 different use cases within 7 distinct categories including education, security and risk management, social impact and sustainability, finance, business-marketing, governance and information technology.
The database will be updated as new projects or examples emerge on how blockchain can play an important role within modern society.
From now on, with Polygon Labs’ new product, no one will have to waste time on the web to find a particular application with a specific use case.
In addition, it is noteworthy that the database, in addition to facilitating the search for various projects in the field, features various socially responsible initiatives such as reducing the carbon footprint, facilitating the delivery of donations for emergency situations, and supporting in the funding of new ideas through crowdfunding
Regarding the launch of “The Value Prop,” Rebecca Rettig, chief policy officer at the company behind Polygon’s developments, said the idea came about to make the public aware of the value that blockchain technology can bring to the world, citing the following words:
“We know developers are building amazing blockchain-based applications that make a positive impact on the world; The Value Prop highlights these in a cohesive way that lets anyone, anytime, anywhere access the great use cases being built.”
Following the database launch, Polygon Labs invited its community and upcoming site visitors to share their favorite use case on Twitter in order to mint a free NFT on fair.xyz.
Proceeds from secondary sales that will be produced by the website will be sent to the “DeFi Education Fund,” a research group that works on a non-profit basis to be able to best explicate the benefits of decentralized finance by helping emerging projects.
Polygon: scalability and interoperability at high levels on the blockchain
The announcement of “The Value Prop” by Polygon Labs, comes on the heels of another hand grenade dropped among the audience of blockchain enthusiasts.
A few days ago, the company, which is engaged in the internal developments of Ethereum‘s Layer 2, announced that it will soon launch version 2.0 of the chain, which could potentially be a game changer for the industry.
The aim is to create a new layer, oriented in the pursuit of value transfer, which is to resemble the Internet as closely as possible in terms of throughput and unification of internal resources.
Indeed, version 2.0 has been described as a conglomerate of Layer 2 networks that can scale infinitely and tap into unified liquidity.
Through the development of zero-knowledge (zk) solutions and the advent of protocols that allow maximum interoperability between different networks (e.g., LayerZero), Polygon’s intent is to position itself as the most innovative and functional infrastructure in the industry, breaking down all the difficulties and limitations of the Web3 world.
Polygon Labs has gone so far as to define the new chain as “the value layer for the Internet,” hinting that there will be none for anyone except Ethereum, which is the main substrate from which to inherit the security and operating framework.
Thus, a total reconstruction of the Polygon ecosystem is expected, which in the coming weeks will see hot topics addressed in front of its audience such as:
- the future of the Polygon PoS chain;
- the evolution of the MATIC token and whether a new token will be introduced, perhaps via airdrop to early adopters in the zkEVM network;
- the transition to different governance and treasury for the new protocol;
- the “value layer” roadmap.
Although nothing has actually been released to the market yet, all Polygon stakeholders are in excitement about what appears to be the beginning of a real revolution in blockchain.
Price analysis of the MATIC token
As Polygon’s ecosystem continues to be enriched with new products of interest and to improve the technical aspects of its blockchain infrastructure, the MATIC token is bleeding on the pricing front.
Unfortunately, innovation and speculation are two concepts that travel on different tracks, and the success of one field in the short term rarely affects the other as well.
The growth and development of Polygon’s internal activities will unquestionably serve to position the chain as a reference network for what concerns Ethereum scaling solutions, which will only benefit MATIC in the long run.
For now, the cryptocurrency remains subservient to the performance of the rest of the market, which has been highly penalized by the Securities and Exchange Commission‘s discriminatory activities against the altcoin sector and cryptocurrency exchanges operating in the US.
In the past three weeks, MATIC has lost about 37% of its value, in a downtrend that has continued unabated since early February.
Beyond that, the end of price distress for Polygon’s native token may be near: new stimulus on the macroeconomic front and new positive news, such as BlackRock’s announcement pushing for a spot ETF on Bitcoin, could brighten the cryptocurrency market.
Also, in the price action of MATIC, the RSI indicator is approaching in the oversold range in the weekly time frame while in the daily time frame it is already at extremely low levels.
This translates into a probable uptrend in prices, at least in the short term, with a continuation of the trend if the overall market responds to the negativity experienced in recent months.
This could be a good time to accumulate and cheapen one’s buys on MATIC.
The supertrend index still signals declines in the air. However, being late in its valuations, it may soon begin a reversal with very high speculative potential.
For now MATIC marks a price of $0.589 per unit, with a capitalization of $5 billion and volume in the last 24 hours of $557 million.
