This month, MATIC, better known as Polygon, is making a resurgence after experiencing a period of underperformance over the majority of the year.
The cryptocurrency of the widely used Ethereum scaling network saw an increase of 12% by Tuesday afternoon, with Bitcoin remaining fairly unchanged and a descent of 3.2% in Ether.
During the same timeframe, the value of ARB and OP, two cryptocurrencies backed by layer-2 solutions, dropped by 3.5% and 8.9%, respectively.
The FalconX research note suggests that MATIC’s impressive performance could be attributed to the anticipation of Polygon 2.0, a large-scale network upgrade.
David Lawant, who is the leader of research at the company, declared that the Polygon upgrade is the most noteworthy technical development in the sector currently.
The market should anticipate that MATIC will steadily catch up to its competitors as more information about the development plan is revealed.
As indicated in the roadmap, the upgrade is characterized as a “vision for zero-knowledge technology-driven infinite scalability and pooled liquidity.”
Polygon Labs, the main creators of Polygon, worked together with developers, scientists, node operators, validators and other interested parties during the development process.
In a series of stages, Polygon 2.0 is being developed with the initial focus being on setting up a “value layer” which is likened to the way the internet functions.
A restructuring of the architecture, with a validium in place, has been put in place to help lower expenses and increase transaction speeds. FalconX also provided details on changes to the tokenomics and governance processes.
When viewed from a wider perspective, however, there is still some progress to be made with MATIC.
MATIC has not done very well since the FTX scandal of November, having gone down 3.2% since the start of the year, in contrast to BTC, ETH, ARB and SOL, all of which have risen by more than a third.
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