Polygon (Matic) Formerly known as Matic, it is a scaling solution for Ethereum (ETH) network. The project is based on Ethereum and should ensure that this network can process a large amount of transactions.
The project has gained wide popularity among investors and developers alike. The first half of this year, the price of the polygon 14,000% met to raise. also move a lot Decentralized Finance (DeFi) Polygon projects because of the attractive design.
Polygon seizes Hermes
Recently, it was revealed that Polygon is taking a major new step to improve the project. It has acquired the Layer 2 Hermez project for $250 million.
14/1 It’s a great day for @0xPolygon!
We announce a strategic focus on ZK-based scaling solutions and $1 billion in funding for this effort.
As our first major foray into the exciting world of ZK, we are pleased to announce our merger/acquisition Tweet embed! 🔥
– polygon (@0xPolygon) August 13, 2021
It is the first major merger of several projects where tokens will also be merged. HEZ tokens from Hermez can be exchanged for MATIC tokens from Polygon Network.
Like Polygon, Hermez is a second layer scaling solution with the goal of reducing stress on the Ethereum network. It has a focus on the so-called ZK-Rollups. This technology ensures that transactions are faster, transaction costs are lower, and the security of the Ethereum network is maintained.
real second layer capacity
The Hermez Layer 2 network is built on top of the Ethereum network. This is in contrast to Polygon which has Layer 2 built in parallel alongside ethereum. Polygon’s critics argue that this method does not work well.
According to those same critics, it is now argued that buying Hermez simply buys the ability to offer a Layer 2 expansion solution.
Polygon doesn’t seem to care about this anyway. The company recently announced that it will save $1 billion to develop its own technology.
Anyway, this historic purchase of Polygon is good news for the project’s investors. The project was already very attractive due to its unique design and with the acquisition of Hermez and everything that comes with it, this project will grow even more.
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