Altcoins

Altcoins have been all the rage for around 2 months now, everyone wants to have that slight chance that the $0.30 coin may very well be $1000 plus in a year. Polygon otherwise known as Matic is a blockchain cryptocurrency that was founded in India in 2017. And as of lately Matic is the altcoin that everyone is talking about and has all the limelight to be the next big coin. 

Just five months ago Matic had a consolidation at the price of $0.03, no one cared about it and just saw it as another altcoin. Now today with seeing highs of $2.68 in mid-May and prices above $2.00 today it raises the question of, “Will this be the next huge coin that moves?” 

Mark Cuban owner of the Mavericks and billion-dollar entrepreneur just announced that Polygon is the newest investment in Mr. Cuban’s cryptocurrency investment portfolio. Cuban has never said the first time he invested in crypto but from multiple interviews, you can take away that he was an early investor in cryptocurrency. With Cuban being an early investor and believer in Bitcoin, what’s to say the guy may be right on Matic too?

What makes polygon different? One of the biggest problems investors see in Bitcoin and Etherum the main two cryptocurrencies is high transaction fees. This comes down to congestion on the blockchain because they were not built to see this much traffic. 

Polygon uses what can be described as a “side chain.” I’m going to try and break this down as easily as I can, let’s treat the blockchain as a highway, Bitcoin and Etherum are stuck in a traffic jam and the only way to avoid this traffic jam is by paying higher fees to skip over the cars. Polygon is on a motorcycle and it’s using the side of the highway to avoid paying.

Polygon has huge potential when looking at the crypto market as a whole. With more people adopting the use of bitcoin daily the use of polygon will only see an increase. With the coin being around $2.00 and a market cap right above $10 billion there is a lot of upside potential, and hey, Cuban was an early Bitcoin better…maybe he bet Matic correctly too.

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