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Cointelegraph
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Polygon’s MATIC upgraded to POL, driving ‘hyperproductive’ token utility
Polygon’s native cryptocurrency has executed a key technical upgrade aiming to enhance its utility and usher in Polygon 2.0.
Polygon’s (MATIC) token was upgraded to the new POL token on a 1:1 basis, becoming the network’s native gas and staking token as of Sept. 4, according to an announcement shared with Cointelegraph.
The upgrade will better enable the community to participate in the network’s growth, according to Marc Boiron, the CEO of Polygon Labs. Boiron told Cointelegraph in an exclusive:
“Now that there are 2% emissions being introduced through this upgrade, it's going to give an opportunity for the community to participate… Technically even though the full migration hasn't happened, [season 1 of the community grants program] created some emissions that the community's been able to use.”
Polygon Labs CEO Marc Boiron, Interview with Cointelegraph’s Zoltan Vardai. Source: YouTube
Polygon’s token is the world’s 21st largest cryptocurrency with a $3.7 billion market capitalization. The upgrade follows a year of in-depth community discussions and consensus and is part of Boiron’s wider plans for Polygon 2.0.
POL is becoming a “hyperproductive” token
The second-biggest reason for the technical upgrade was to make POL a hyperproductive token, according to Boiron.
The Polygon Labs CEO explained:
“POL goes one step further and as it gets kind of embedded in the different things in the Polygon Network, it becomes hyperproductive in the sense that it can actually earn fees from multiple different sources.”
While MATIC was only earning fees from gas and staking, the new POL token will also earn fees from additional actions, such as staking to secure data availability or decentralizing a sequencer, with more fee-generation options on the horizon.
Boiron called this hyperproductive token the next evolution of Ether (ETH), which is only able to earn gas fees from transactions.
MATIC to POL migration: What you need to know
While the migration was finalized on Sept. 4, MATIC holders have no hard deadline for upgrading their tokens. All the staked MATIC will be automatically converted into POL without any additional action required.
Matic to Pol upgrade. Source: Polygon
The testnet upgrade was successfully executed on July 17.
The new POL token will also be embedded in Polygon’s AggLayer, short for aggregation layer, which is similar to a cross-chain interoperability protocol aiming to connect siloed blockchains.
The technical migration is a crucial part of the vision of Polygon 2.0 — the Polygon CDK and AggLayer’s final evolution that aims to provide “infinite scalability” to unify all blockchains, including Layer-1s like Ethereum and Bitcoin.
Magazine: $12.1M fraud suspect with ‘new face’ arrested, crypto scam boiler rooms busted: Asia Express
Polygon’s (MATIC) token was upgraded to the new POL token on a 1:1 basis, becoming the network’s native gas and staking token as of Sept. 4, according to an announcement shared with Cointelegraph.
The upgrade will better enable the community to participate in the network’s growth, according to Marc Boiron, the CEO of Polygon Labs. Boiron told Cointelegraph in an exclusive:
“Now that there are 2% emissions being introduced through this upgrade, it's going to give an opportunity for the community to participate… Technically even though the full migration hasn't happened, [season 1 of the community grants program] created some emissions that the community's been able to use.”
Polygon Labs CEO Marc Boiron, Interview with Cointelegraph’s Zoltan Vardai. Source: YouTube
Polygon’s token is the world’s 21st largest cryptocurrency with a $3.7 billion market capitalization. The upgrade follows a year of in-depth community discussions and consensus and is part of Boiron’s wider plans for Polygon 2.0.
POL is becoming a “hyperproductive” token
The second-biggest reason for the technical upgrade was to make POL a hyperproductive token, according to Boiron.
The Polygon Labs CEO explained:
“POL goes one step further and as it gets kind of embedded in the different things in the Polygon Network, it becomes hyperproductive in the sense that it can actually earn fees from multiple different sources.”
While MATIC was only earning fees from gas and staking, the new POL token will also earn fees from additional actions, such as staking to secure data availability or decentralizing a sequencer, with more fee-generation options on the horizon.
Boiron called this hyperproductive token the next evolution of Ether (ETH), which is only able to earn gas fees from transactions.
MATIC to POL migration: What you need to know
While the migration was finalized on Sept. 4, MATIC holders have no hard deadline for upgrading their tokens. All the staked MATIC will be automatically converted into POL without any additional action required.
Matic to Pol upgrade. Source: Polygon
The testnet upgrade was successfully executed on July 17.
The new POL token will also be embedded in Polygon’s AggLayer, short for aggregation layer, which is similar to a cross-chain interoperability protocol aiming to connect siloed blockchains.
The technical migration is a crucial part of the vision of Polygon 2.0 — the Polygon CDK and AggLayer’s final evolution that aims to provide “infinite scalability” to unify all blockchains, including Layer-1s like Ethereum and Bitcoin.
Magazine: $12.1M fraud suspect with ‘new face’ arrested, crypto scam boiler rooms busted: Asia Express
To the Moon 🌕
LIVEPolygon
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✈️ Polygon Labs is co-hosting Redacted Airways, powered by @redactedcoin.
This first-ever web3 event in the sky on September 15, from Dubai to Singapore Token2049, brings together a unique networking opportunity for founders, VCs and KOLs.
We’re excited to team up with Redacted, backed by @TheSpartanGroup, @animocabrands and @PolygonVentures, who have solid products on Polygon and are building a robust web3 ecosystem to redefine data & entertainment.
This first-ever web3 event in the sky on September 15, from Dubai to Singapore Token2049, brings together a unique networking opportunity for founders, VCs and KOLs.
We’re excited to team up with Redacted, backed by @TheSpartanGroup, @animocabrands and @PolygonVentures, who have solid products on Polygon and are building a robust web3 ecosystem to redefine data & entertainment.
Be smart guys , Matic isn't delisted . Don't panic 🤣. Matic will rebrand as PoL . Check my previous post about $MATIC 's price prediction .
Price impacts of rebranding token: Matic 2$ ahead ?
1. Polygon ($MATIC)
- Before Rebranding (January 2021): ~$0.03
- After Rebranding (May 2021): ~$2.00
2. $NEO (formerly AntShares)
- Before Rebranding (June 2017): ~$1.00
- After Rebranding (August 2017): ~$50.00
3. Elrond ($EGLD)
- Before Rebranding (July 2020, ERD equivalent):~$0.02
- After Rebranding (February 2021): ~$20.00
4. VeChain ($VET)
- Before Rebranding (January 2018, VEN): ~$4.50
- $After Rebranding (May 2021): ~$0.20
1. Polygon ($MATIC)
- Before Rebranding (January 2021): ~$0.03
- After Rebranding (May 2021): ~$2.00
2. $NEO (formerly AntShares)
- Before Rebranding (June 2017): ~$1.00
- After Rebranding (August 2017): ~$50.00
3. Elrond ($EGLD)
- Before Rebranding (July 2020, ERD equivalent):~$0.02
- After Rebranding (February 2021): ~$20.00
4. VeChain ($VET)
- Before Rebranding (January 2018, VEN): ~$4.50
- $After Rebranding (May 2021): ~$0.20
An old Bitcoin wallet from 2010 just moved $3 Million worth of Bitcoin.
The owner of the wallet hodled all the way from $0.10 to $60,000.
What a legend! 🤯
$BTC
The owner of the wallet hodled all the way from $0.10 to $60,000.
What a legend! 🤯
$BTC
Hardest thing of all is to find a black cat in a dark room, especially if there is no cat.
----Confucius
----Confucius
On this day in 2011, an anonymous legend bought 5,000 Bitcoin for only $50.
13 years later, that's $300 million 🤯$BTC
13 years later, that's $300 million 🤯$BTC
We all knew that our life faces ups and downs.
But that's not correct.
#mustread
There comes a time, when our life hangs on something. It's no ups nor down. It's like a valley of disappointment. Everything fed up badly around us. No meanings, no color in our life. At this stage, we start losing hope. And by taking bad decisions that results in more terrible things happening in our life.
How to overcome this?
The only way to overcome is have patience. Eventually, you will end up having good things.
Same, every $MATIC holder is in valley of disappointment. Hold breath, a good morning is waiting for you.
But that's not correct.
#mustread
There comes a time, when our life hangs on something. It's no ups nor down. It's like a valley of disappointment. Everything fed up badly around us. No meanings, no color in our life. At this stage, we start losing hope. And by taking bad decisions that results in more terrible things happening in our life.
How to overcome this?
The only way to overcome is have patience. Eventually, you will end up having good things.
Same, every $MATIC holder is in valley of disappointment. Hold breath, a good morning is waiting for you.
What's next ?
Well, US will print tons of USD which results in higher inflation rate. However, devaluation of $USD can boosts crypto adoption more.
Technically , Bullish for $BTC Bitcoin , Gold and for Real Estate .
#BTC #petrodollar #PetroDollarDestroyed
Well, US will print tons of USD which results in higher inflation rate. However, devaluation of $USD can boosts crypto adoption more.
Technically , Bullish for $BTC Bitcoin , Gold and for Real Estate .
#BTC #petrodollar #PetroDollarDestroyed
Ether ETFs Should Be Fully Approved by September, Says SEC Chair Gary Gensler.
SEC Chair Gary Gensler indicated that Ether ($ETH ) ETFs are expected to be fully approved by September 2024. This marks a significant step forward for cryptocurrency investment products, providing a regulated way for investors to gain exposure to Ether. Gensler's comments come as the SEC continues to navigate the regulatory landscape for digital assets, balancing innovation with investor protection.
SEC Chair Gary Gensler indicated that Ether ($ETH ) ETFs are expected to be fully approved by September 2024. This marks a significant step forward for cryptocurrency investment products, providing a regulated way for investors to gain exposure to Ether. Gensler's comments come as the SEC continues to navigate the regulatory landscape for digital assets, balancing innovation with investor protection.
#Most common used Cryptocurrency Terms and Abbreviations in glimse.
1. Fear of Missing Out (FOMO): The worry that one would pass up a lucrative chance or investment.
2. Laughing My Ass Off (LMAO): A jocular expression on the internet.
3. Rekt: Slang for "wrecked," denoting a substantial loss of money, typically as a result of a poor investment or a market meltdown.
4. Non-Fungible Token (NFT): Blockchain technology is used to verify unique digital assets.
5. Decentralized Finance (DeFi): Blockchain-based financial services that function independently of conventional institutions.
1. Fear of Missing Out (FOMO): The worry that one would pass up a lucrative chance or investment.
2. Laughing My Ass Off (LMAO): A jocular expression on the internet.
3. Rekt: Slang for "wrecked," denoting a substantial loss of money, typically as a result of a poor investment or a market meltdown.
4. Non-Fungible Token (NFT): Blockchain technology is used to verify unique digital assets.
5. Decentralized Finance (DeFi): Blockchain-based financial services that function independently of conventional institutions.
Would Nikola Tesla Have Mined Bitcoin?
If Nikola Tesla had lived during $BTC Bitcoin's rise, his pioneering spirit would likely have driven him to mine it. Tesla's fascination with electricity and cutting-edge technology aligns with Bitcoin's decentralized, cryptographic nature.
His expertise in electrical engineering and vision for innovative power solutions could have led to advancements in mining hardware and efficiency. Tesla's inventive genius and passion for revolutionizing technology would have made him a natural fit for exploring and possibly enhancing the world of cryptocurrency mining.
If Nikola Tesla had lived during $BTC Bitcoin's rise, his pioneering spirit would likely have driven him to mine it. Tesla's fascination with electricity and cutting-edge technology aligns with Bitcoin's decentralized, cryptographic nature.
His expertise in electrical engineering and vision for innovative power solutions could have led to advancements in mining hardware and efficiency. Tesla's inventive genius and passion for revolutionizing technology would have made him a natural fit for exploring and possibly enhancing the world of cryptocurrency mining.
What If Warren Buffett Had Invested in $BTC in 2018?
Imagine if Warren Buffett had taken a bold leap and invested his entire $84 billion net worth in $BTC in 2018, when it was priced at $6,500.
With that investment, he could have acquired around 12.92 million #Bitcoins. Fast forward to June 2024, with Bitcoin now valued at $67,000, Buffett's investment would be worth an astounding $865.64 billion!
This thought experiment underscores Bitcoin's remarkable growth and the unpredictable nature of investments. Even the most cautious investor could have realized extraordinary returns with a daring bet on cryptocurrency.
Imagine if Warren Buffett had taken a bold leap and invested his entire $84 billion net worth in $BTC in 2018, when it was priced at $6,500.
With that investment, he could have acquired around 12.92 million #Bitcoins. Fast forward to June 2024, with Bitcoin now valued at $67,000, Buffett's investment would be worth an astounding $865.64 billion!
This thought experiment underscores Bitcoin's remarkable growth and the unpredictable nature of investments. Even the most cautious investor could have realized extraordinary returns with a daring bet on cryptocurrency.
