Polygon MATIC Set to EXPLODE!!

For a long time now polygon has been if Not the outright best certainly one of The best top layer two scaling solutions For ethereum And 2021 proved to be an absolutely Breakthrough year for polygon as well Leading projects like ave Kerfi decentraland sandbox openc and Uniswap chose polygon as their layer 2 Scaling solution but these achievements Were immediately followed by some Less talked about yet major operational Problems and some of these continue to Exist but despite all these challenges Polygon remains seemingly unstoppable With so many good things that have been Announced in these last few days but Even that's not the whole story there is A lot going on with polygon in fact There is actually a lot going on with Polygon kind of like the old western Movie right the good the bad the ugly There are positives there are negatives And there are things that are somewhere In the middle of that spectrum in this Video we're gonna sort them out with a Deep dive into polygons [Music] My name is maddie and this is altcoin Buzz we are a crypto investment research Company we have documented many 100x Returns on coins and tokens that are top Projects today really before anyone else Was even talking about them and if you

Want to see our detailed process for Researching such projects then our new And improved altcoin buzz access group Is for you our plans start at 99 Monthly be sure to click the link below For more information we genuinely want You guys to be successful in terms of Your investments but for the purposes of This video you shouldn't consider Anything we say here to be official Financial or investment advice all right With that being said let's take a look At some polygon stats and before diving Fully into the good the bad the ugly Let's see where we are presently as you Can see matic that is the ticker of Polygon sits at a dollar and 38 cents Currently that makes it the 20th largest Cryptocurrency project by market cap and Largest in the ethereum scaling and Layer 2 category its current market cap Sits at about 9.5 billion dollars and Polygon right now is very much on a Two-way mission firstly they're trying To grow their own pos matic chain and Secondly they want to be the place that Other layer two solutions to eath can Build and deploy their apps remember Polygon started as an ethereum side Chain meaning that it's compatible but Only interacts with the eth chain in Parts all right as far as that western Movie we referenced a moment ago let's Start with polygon on the good side of

Things all the positives here and there Are a few to discuss because polygon has Accomplished a lot and it generates lots Of publicity for itself as a project and Most of that is pretty good publicity For example just about 24 hours ago Polygon announced supernet chains the Polygon edge chains on steroids Effectively in simple terms polygon Super nets are dedicated scalable Interconnected block chains that aim to Ignite mass adoption of polygon and web 3. and that's because polygon supernet Chains give developers the ability to Build their projects in a customizable Environment without hosting or Operational costs and to support the Developers polygon has already announced A 100 million dollar support fund as Accurately stated here by crypto texan Polygon already has or is developing Versions of scaling solutions like for Zk roll ups it has polygon hermes for Optimistic roll ups it has polygon Nightfall and then its side chains as Well hybrid scaling solutions standalone Enterprise chains and now those supernet Chains in fact with the introduction of Supernet chains polygon is no longer Just a layer two solution but has become Really an ethereum scaling toolkit which Is a big move of course towards web3 More good news here is the partnership With stripe so stripe is working with

Polygon for its latest push into Cryptocurrency of course platforms and Marketplaces powered by stripe can now Instantly pay their sellers their Freelancers their content creators and Service providers on polygon using Specifically usdc and interestingly Twitter looks like it's going to be the First platform to use this feature Here's another positive out of lugano Switzerland so you may have seen this Story a little while ago that the city Of lugano made bitcoin and crypto legal Tender not a country but a city and it's Still a positive story it means the city Is accepting bitcoin tether and their Own stablecoin which is called lvga And as legal currency including the Ability to pay for bills for public Services for taxes for things like that Which is pretty cool But you may be asking yourself okay Where does polygon fit in here to the Story exactly well to keep transaction Fees low polygon will be the Infrastructure partner for the Stablecoins tethers erc20 version which Is still the most popular by just a hair Over the tron trc20 version will run on Polygons rails for all city services It's a terrific deal for polygon as well As for the city of lugano everyone will Get crypto payment access at a low cost Investor confidence is also looking

Strong and you can always sniff out Problems with a project whether they be Temporary or more permanent you can also Tell the strength of a project based on How professional investors act around it Specifically whether or not the money is Drawing up or whether there's still Monetary interest in the project and With polygon there is still lots of Interest just a month ago for example Back in february a little over a month Ago polygon raised a huge 450 million Dollars from really some of asia's Biggest vc and crypto investors like Sequoia capital india and softbank and a Few of crypto's other usual suspects as Well like galaxy digital alexis ohanian Of reddit his 776 animoka brands and Kevin o'leary aka mr wonderful all of These groups and people invested in this Round pro investors make mistakes and Even big ones sometimes but they do not Invest more money as they did here in February into a project that they think Is going to fail And that's because not only do they not Think polygon is failing they think it's Succeeding and has a much brighter Future potentially and in a related Story a lot of whales seem to be Accumulating matic as well around the Same time as this investment Announcement daley hodl reported that Eath whales are buying more matic and

Blueprint actually both are layered two Solutions to the eat they hold so much Of in their portfolios and again a sign Of confidence from investors and from People who know and understand eth's Problems we also have a lot of public Interest that's coming from public Companies especially in the us it would Seem and these companies of course just As a standard as a baseline default they Have a lot to answer for whenever they Make any kind of decision they have to Answer to customers for example to Shareholders and sometimes even Regulatory agencies like the sec the irs Maybe the ftc and certain others and so As a result they have to be highly Scrutinizing in terms of the partners That they choose to work with or Collaborate with so they don't partner With just anyone really because the Hassle of a potential bad deal Or an upcoming regulatory issue for Example the potential for these things Is just not something that they want to Deal with but sports betting company and Nasdaq listed draftkings just announced That they're partnering with polygon Draftkings is going to operate a network Validator for polygons pos network and This is a first for a public company to Become a blockchain validator as Investors we can interpret this as Number one draftking sees growth and

Income potential in matic number two Draftkings does not see any regulatory Issues with pos networks or at least With the matic network with regulatory Agencies in the us And possibly draftkings could be looking At matic or other pos networks to open Up a blockchain-based sports betting Site or other game or maybe Entertainment service there's no way to Know for sure or to interpret this as Anything other than good news as we see It that really a u.s public company sees Value in the matic network all right we Talked about the good but to be fair now We have to consider the bad just like The movie after all and there are a few Negatives here that if we're going to be Honest need to be covered Bad piece of news i suppose number one Or something that you should know about As far as the variable goes is that a Hack that led to a necessary and Unannounced hard fork in december and Unless you were staking or had other Tokens waiting to move or bridge to or From matic it's possible that you Haven't heard about this news but the Announcement of this story which was on December 30th here was about an event That took place on december 5th It's not a good look when it comes to Transparency and disclosure by matic Really or any company or project if you

Think about it the hack which took a Little over 800 000 matic created the Need for the december 5th so-called Unannounced network update in the early Hours of the morning and no one had any Idea why this update was necessary and Or what was happening yet that update Was a hard fork and polygon didn't tell Anyone for almost a month The foundation paid back the stolen Funds and paid a white hack hacker to Help patch the vulnerability but the Only positive that we can take out of This is that investors thankfully didn't Suffer any losses but let's be honest it Doesn't help build trust or credibility To wait a month to finally share Pertinent information with the community Here's another negative that we ought to Cover on the more bad end of the Spectrum there's one game that clogged Up the entire network and it's a popular Game but in early january sunflower fans Bogged the whole network down for quite A while actually and at one stage they Were consuming as much as 42 of all gas Fees on polygon so that means that gas Fees exploded by almost 20 times to 500 Gway negating the advantage really of Using their network in the first place And the congestion was a huge problem Especially for a platform whose selling Point is better scalability than the l1 Alternative so maybe a game like

Sunflower will have to leave polygon Altogether like axi did leaving ethereum To its own eighth sidechain the ronin Chain in order to operate that game Maybe that's a possibility for sunflower But either way it doesn't look promising For games on matic right now here's Another negative here the network fees Are so high It seems like only whales can direct Stake and we just wrote about this on Our website altcoinbuzz And as this redditer points out this is On the polygon subreddit by the way the Gas fees and double fees from both eth And matic networks really make it Unworkable for small investors the only Other realistic options are to farm it In a liquidity pool but then you have a Second token and real impermanent loss Risks so it's a real problem if your Best small supporters can't stake your Coin and just ask the link army they Love chain link and would kill for good Direct sticking options but unlike Polygon where it exists and functions Poorly chainlink doesn't have it yet at All but hopefully will sometime in 2022 All right so we've covered now the good We've covered some of the bad let's Discuss the ugly There's been some unfortunately here's One bit of ugly news app builders are Having issues deploying apps to the main

Net you may have heard about this Polygon has a huge ecosystem of course And part of their scalability goals is To maintain that grow it and become a Viable alternative to eth not just for Transaction fees but for services Effectively as well and this complaint On deploying an app is from about two Weeks ago the general network Instability is not just for app Developers but for regular users too as This reddit describes from also about Two weeks ago and that's pretty ugly if You can't deploy a new app or send funds Across the network here's another ugly Development here the network instability There are questions of course all over Polygons network just this week on Wednesday the network went down for 11 Hours yikes a previous upgrade led to a Malfunction in the block producer so now Is it good that polygon caught this and Fixed it yes absolutely but we can't Just look at this incident alone because Unfortunately it's one of many like this One for example at this point in late February if you're noticing that many of These issues happen within the last Couple months your keen observer we also Find that disturbing but anyways at that Point in late february there was only One rpc node operating on the entire Network that means only one place for Users to make calls and queries into the

Network for example to check a Transaction in the block explorer that's Not good And all the other ones were down is this Rpc problem part of a potential block Reorg that happened again we don't know For sure but as this redditor was saying He couldn't even view his wallet balance And when you read the comments the more Telling point is less about the lack of Functionality than the polygon team Being silent just like when we had the Hard fork situation there's also Unfortunately uncertainty in Transactions And yes that is certainly just as ugly As it sounds This dapp builder had issues deploying His app and failed transactions and the Inability to locate transaction hashes To see what actually went wrong And he's not even the only one bridges Of course are becoming an issue as well Like deposits from bridging between eth And matic which is one of the most Popular moves for users to make in order To save on gas fees or crazy delays on Their pos bridge yes like we said ugly When moving between networks to save Fees is one of the reasons that you have For existing and your users can't even Do it that's a big problem Any one or even two of these problems You can explain away as being maybe the

Byproduct of when something has to have 100 uptime but things happen but there Are so many and they are so poorly Managed that seems to be the observation With no communication or even Acknowledgement that something is Happening By the matic team and unfortunately that Just creates a cause for concern on the Whole despite hearing these bad and ugly Items we do think polygon is a very good Project and it's going through a mix of Really the best and the worst times Almost simultaneously aggressive Investors don't forget may want to Follow the whales they're going to buy And hodl maybe during the bad news Periods and if you think they can work These issues out then it's worth holding Or maybe adding to your position not Financial advice of course but that said These issues are for real and we don't See any sign of them going away Unfortunately at least not yet guys let Us know what you think about matic and Polygon the broader project in the Comments below do you see the positive Side of things is the glass half full or Half empty for you let us know if you're Still watching this video be sure to Like subscribe share and hit the bell to Receive notifications never financial Advice but of course best of luck if you Do choose to invest check out these

Other couple of videos to my right and To my left stay safe out there members Of the altcoin buzz army have a great Weekend and as always we do hope to see You again soon in our next video Take care