- Polygon (MATIC) enters a mini bull run as the hype surrounding the launch of Polygon 2.0 continues to increase amongst market players.
- The Polygon 2.0 architecture is poised to revamp the network with four major layers including the Staking, Interop, Execution, and Proving Layer.
The hype surrounding Polygon 2.0 has triggered a bullish run for Polygon (MATIC). The MATIC token seems to be one of the few altcoins making waves in the cryptocurrency market as traders and investors rush to get a piece of the pie.
With Polygon 2.0 proposing features and capabilities that are poised to revamp and restructure the entire architecture of the Polygon ecosystem, market sentiments are largely bullish for network developers, Polygon traders, and crypto investors. As such, the rise in the asset’s price comes as no surprise to many.
According to data from Santiment, a leading cryptocurrency intelligence firm, MATIC is on a mini bull run. The asset notably secured 6 percent in gains over the last 8 hours. MATIC has managed to remain in the green zone since then.
Additionally, there has been a continuous decrease in MATIC’s supply on crypto exchanges. There has also been a rebounding market growth. These are some of the positive on-chain signals for the altcoin. At report time, MATIC trades at $0.7435.
Meanwhile, news MATIC addresses on network exchanges are rising daily. From the 17th of June till the 10th of July, new addresses have surged from 785 to 1,436. Santiment’s report reads;
MATIC is on a mini-run today, with a +6% price rise in the past 8 hours. Some positive on-chain signs for the 12th ranked market cap asset include rebounding network growth, decreasing supply on exchanges, and low-profit taking.
📈 $MATIC is on a mini run today, with a +6% price rise in the past 8 hours. Some positive on-chain signs for the 12th ranked market cap asset include rebounding network growth, decreasing supply on exchanges, and low profit taking. https://t.co/EB4njHmn1W pic.twitter.com/NmwvNQY89j
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— Santiment (@santimentfeed) July 10, 2023
Polygon 2.0 and its game-changing Architecture; What You Should Know
Polygon 2.0 is a network of ZK-powered L2 chains, unified using a novel cross-chain coordination protocol. The network is designed to give users a single-chain experience. The network, as Polygon explained in a blog spot, is the culmination of more collaboration between Polygon Labs, node operators, and a handful of other important community members.
Breaking down the Polygon 2.0 architecture, the network said the following ;
The Polygon 2.0 architecture is formalized as a collection of protocol layers, designed to operate together. The most prominent example of such layered architecture is likely the Internet protocol suite, with its four layers (Link, Network, Transport, and Application Layer) that power the Internet.
Every single protocol later works to facilitate a specific sub-process. The logical separation helps to simplify the reasoning, implementation, and upgrades of the network architecture. It is also worth noting that Polygon 2.0 consists of four protocol layers. All of these layers enable an important process within the network. They include Staking Layer, Interop Layer, Execution Layer, and the Proving Layer.
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