How Layer 2 Solutions Are Impacting Market Volumes Of Polygon (POL)

The increase in layer 2 solutions: how they are redefining the cryptocurrency scenario

In recent years, the world of cryptocurrencies has undergone a significant change towards more scalable and efficient solutions. One of these innovations that is gaining impulse are the solutions of layer 2 (L2), which are revolutionizing the way we think of cryptocurrencies such as the polygon (in). In this article, we will deepen the impact of L2 solutions on polygon market volumes, exploring what these innovations mean for the cryptocurrency industry.

What are the solutions of layer 2?

Layer 2 solutions are a set of technologies that allow faster and cheaper transactions in blockchain networks. Unlike Mainnet, which is the main chain responsible for data storage, layer 1 (L1) transactions require significant computational energy to execute, leading to high transaction rates and transaction times and transaction times.

Capa 2 solutions, such as Polygon’s optimism platform, use chain processing and cache mechanisms to reduce gas rates and improve transaction speeds. By allowing users to create a temporary “book” of transactions that can be stored in the L1 chain during peak hours, layer 2 solutions allow the most efficient use of network resources.

How do the solutions of layer 2 affect the polygon?

The Polygon optimism platform is at the forefront of the innovation of layer 2, which offers several important characteristics that contributed to its significant market growth. Here are some ways in which L2 solutions in Polygon are affecting market volumes:

1.

• Increased scalability : The solutions of layer 2 allow optimism to process up to 4 million transactions per second compared to the 1-3 million Mainnet. This increase in the transfer rate has led to greater volumes in the market and greater adoption.

• User improved experience

  

  : faster transaction times and lower rates have resulted in a more perfect user experience in Polygon, encouraging more users to get involved with the platform.

• Improved security : Downloading the main transactions of the network, optimism reduces load load, which makes it less vulnerable to attacks and increases general security.

Volumes of the polygon market

Polygon market capitalization has increased significantly since its inception in 2017. According to CoinmarketCap data, Polygon market capitalization reached $ 1 billion in February 2022, more than $ 150 million at the time of its price in its price in December 2020.

Similarly, the volume of optimism transactions has also been significant growth. In June 2022, optimism demanded more than 3.5 million transactions per day, a substantial increase on the initial monthly average of approximately 200,000 transactions.

Conclusion

Layer 2 solutions are revolutionizing the world of cryptocurrencies, providing more efficient and scalable solutions to users. In Polygon, these innovations have led to significant market growth, increased transaction volumes and better user experience. As the adoption of layer 2 solutions continues to grow, we can expect an even greater reduction in transaction rates, faster execution times and greater scalability.

Additional Reading

• “Polygon Optimism Platform: The future of blockchain transactions”

• “Layer 2 Solutions: How are the panorama of cryptocurrencies”

• “Polígono market capitalization exceeds $ 1 billion”