Polygon and Optimism have headed the cryptocurrency markets during the past week. Both are Layer-2 scaling solutions for Ethereum, with Polygon Matic pioneering the ETH L2 market. Both MATIC and OP have risen 55% and 50% to the upside during the previous week, respectively.
We have been speculating on whether or not we are still in a bear market due to these projects’ leadership of the current bullish trend in the cryptocurrency markets. Look into the factors that are causing these L2 Ethereum chains to 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 founded on a strong design philosophy. These pillars are crucial to comprehend since they have a significant impact on the overall layout of optimism.
For the features it offers, optimism is made to be as straightforward as it can be. A safe, scalable, and adaptable L2 system should, in theory, only have the bare minimum of moving components. Compared to other, more complicated L2 designs, Optimism’s design has many important benefits because of its simplicity.
A blockchain that benefits from another “parent” blockchain’s security is referred to as an “optimistic rollup,” which is just a fancy way of saying that it does it. For example, rather than supplying their own consensus method, optimistic roll-ups use the parent chains such as PoW or PoS as a basis for consensus. The parent blockchain in Optimism’s instance is Ethereum.
Polygon (MATIC) – The Revolutionary Layer 2 Crypto
The first organized, user-friendly platform for infrastructure and scaling development 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 kinds 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 benefits of openness, a strong ecosystem, and the security of Ethereum.
According to its co-founders, Polygon, the most well-liked scaling solution for Ethereum, is trying to solve one of its most frequent criticisms and use the security and decentralization of Ethereum.
Although Ethereum is decentralized and hard to censor or take down, it is extremely slow and expensive to use. Both difficulties are intended to be addressed by scaling solutions like Polygon.
Big Eyes Coin (BIG) – Will Soon Hit $10 Million
Big Eyes Coin joined the cryptocurrency market at a precarious time due to the continuous string of industrial disasters this year. BIG, a meme coin with a cat image that aspires to safeguard the sea, a vital component of the world’s environment, while simultaneously moving capital into the decentralized financial sector, continues to pique the curiosity of cryptocurrency experts.
The blockchain network intends to do this by distributing to organizations that promote ocean conservation 80% of the 200,000,000 tokens that are now available.
The Big Eyes Coin presale is now in its sixth round. A brand-new meme coin cryptocurrency called Big Eyes Coin has garnered close to $10 million. Meme coins provide a delightful and amusing element to the world of cryptocurrency.
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