transition from Proof-of-Work to Proof-of-Stake draws nearer, it is expected that specific crypto projects might be affected by the switch. Some might get a good outcome., the scaling solution that runs on the Ethereum blockchain.
While the translation might not result in lower gas fees for ETH, Polygon said it would for MATIC. Citing a possible 99.5% reduction in energy consumption, Polygon encouraged its community to look forward to a further increase in transaction speed besides the cheaper fees. “The merge fixes the massive carbon footprint of Ethereum, arguably beefing up Ethereum’s security, and reducing ETH inflation. Polygon gains from Ethereum’s improved security and general growth to the ecosystem.”
The carbon-neutral crypto project recognized these opinions. So what position does this update leave its native cryptocurrency, MATIC?While MATIC was worth $1.04 on 14 August, its price had declined as it was $0.81 at press time. As per data from CoinMarketCap, the 15th-ranked cryptocurrency wasDespite the anticipation, MATIC investors may need to lay low on their expectations. Based on the four-hour chart, MATIC may not be able to sustain the 1.13% gains it acquired over the last 24 hours.
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