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7 Things You Didn’t Know About Polygon

February 01, 2023
Polygon

Discover the exciting world of Polygon blockchain - from India's first crypto billionaires to Covid tracking and Reddit's blockchain based avatars.

Are you ready to learn about Polygon, the blockchain that's taking the world by storm? As you might already know, Polygon is a blockchain built to tackle the scalability issues that other blockchains face, using technologies such as sidechains and zkSync to offer a high-performance platform for DApps. 

But that's not all there is to know about Polygon. Read on to learn the things you didn't know about Polygon blockchain – you may be surprised by what you find!

The Polygon Founders are India's First Crypto Billionaires 

The Polygon founders, Sandeep Nailwal and Jaynti Kanani, have made history as India's first crypto billionaires. They are now India's most well-known crypto billionaires and have achieved a rare feat of success in the volatile cryptocurrency market. 

With their success, they have shown that it is possible to make it big in the crypto industry if you have the right strategy and dedication.

Polygon Can Process Up to 65,000 Transactions per Second

Polygon is capable of processing a whopping 65,000 transactions per second, which is more than 10 times higher than Mastercard and 3 times higher than Visa.

This impressive processing speed is made possible by its revolutionary technology, which combines the best of both blockchain and traditional databases. This allows Polygon to process transactions in a fraction of the time of its competitors, making it an attractive option for businesses and consumers alike.

Mark Cuban from Shark Tank has Invested in Polygon

American Billionaire Mark Cuban, known for his appearances on the hit show Shark Tank, has recently invested an undisclosed amount in Polygon. Cuban's investment is seen as a major endorsement of the platform and the Ethereum blockchain in general. 

Cuban has been an advocate of cryptocurrency and blockchain technology for years, and his investment in Polygon is seen as a way of furthering his support of these technologies. 

Polygon was Used in India for Tracking Covid Test Results

The Maharashtra government is making use of Polygon as a platform for tracking Covid test results on a large scale. Nailwal (co-founder of Polygon), in an interview with LiveMint, said, “We are not officially partnered with them, but there are a few vendors who are working with the government and using Polygon.” Furthermore, Nailwal has established a crypto Covid relief fund that has accrued more than $1 billion.

Stripe is Using Polygon to Process Global Crypto Payments

Stripe has implemented crypto payments on a global scale using the Polygon network. It was chosen for its high speed, low fees, broad wallet compatibility, and integration with Ethereum. Currently, Stripe supports payouts in USDC and the tokens received are instantly available in connected wallets, with the ability to exchange with other tokens.

Adidas & Prada Have a Project on Polygon

Adidas Originals and Prada have partnered with Polygon Studios to create a unique NFT project. This project combines 3 000 artworks sourced by the community and compiled into a single frame by renowned digital artist and creative coder Zach Lieberman.

Blockchain technology is being used to reduce fees, improve energy efficiency and provide a user-friendly platform where participants and creators can gain collective-rooted ownership.

Reddit’s Avatars Live on Polygon

Reddit has recently launched airdropping of its Polygon-based "Collectible Avatars" as part of its push for blockchain technology. This has been a significant force for the adoption of NFTs, with users creating over 3 million Polygon wallets and nearly 3 million of the NFTs in circulation. 

These NFTs are currently being sold on the OpenSea marketplace and have seen an increase in sales of hundreds of percent since its launch.

Disclaimer: The content of this piece reflects the writer's opinion. This article is not intended to provide financial advice and is meant solely for entertainment and educational purposes. Investing in cryptocurrency involves significant risk. Capital is at risk, and returns are not guaranteed. Always conduct your own research.

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