It’s been an ideal start to 2022 for Polygon (MATIC) which has risen to become the 13th biggest cryptocurrency in the world, following a price boost due to investment growth.
MATIC’s price surge rose its market cap to $16.09 billion, surpassing Shiba Inu’s $15.72 billion, according to Coin Rivet market data.
Several developments for Polygon may have also contributed to the investment in MATIC as news of The Associated Press launching an NFT marketplace for historic photojournalism that would be minted on the Polygon blockchain was announced yesterday.
Plonky2 is a recursive SNARK that is 100x faster than existing alternatives and natively compatible with #Ethereum.
A 🧵 on why this is exciting… pic.twitter.com/bGOdtyqwM4
— Polygon | $MATIC 💜 (@0xPolygon) January 10, 2022
The Polygon team expanded on the potential of Plonky2 and what it does for its ecosystem.
‘The unique features of Plonky2 open the door for future engineering breakthroughs such as horizontal scaling of blockchain networks, where the throughput increases with every node that gets added to the network,” the project tweeted.
“Thanks to Plonky2, the Polygon ecosystem will have the opportunity to build the most performant and scalable L2s.”
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