How does Polygon [MATIC] fare amidst emerging L2 solutions? Assessing…

Polygon’s dominance gets threatened by other L2 protocols and their upcoming airdrops.

The daily activity of zkSync Era and StarkNet parallels that of Polygon.

Overall dominance of Polygon in the DeFi sector remained high.

Polygon [MATIC] has been dominating the L2 space in terms of activity over the last few months. However, this dominance could soon be threatened by other L2 solutions.

Upcoming L2 solutions such as zkSync Era and StarkNet have been catching up to Polygon in terms of daily activity. Both these solutions were rumored to launch token airdrops soon.

The hype around airdrops may be enough to propel activity on both these networks to new heights. After the tokens for these respective networks get launched, the activity on the networks may surpass that of Polygon, leaving Polygon in the dust.

Source: Artemis

Will Polygon be able to retain its position?

In terms of the DeFi sector, it could be safe to say that the protocol may still continue to show growth. The TVL on Poygon’s zkEVM protocol continued to rise over the last few months.

The protocol is also on its way to make new developments on its network.

Polygon’s founder, Sandeep Nailwal, has stated that zkEVM ecosystem is preparing for significant growth with the deployment of critical infrastructure such as Safe and Chainlink oracles, as well as user experience improvements based on early developer feedback and cost optimizations through data compression.

Source: DeFi Llama

To combat the attention garnered by other protocols pertaining to an airdrop, Sandeep mentioned how the network could possibly have an airdrop of its already existing token MATIC for its users.

The growth in the NFT sector will also help the protocol with the competition. Reddit’s recent collaboration with Polygon resulted in 8.7 million users being onboarded to the Web3 space.

However, despite this surge in activity, Polygon’s NFT growth has started to decline. Dune Analytics’ data indicated that the overall volume of NFT transactions occurring in marketplaces took a massive plunge.

Source: Dune Analytics

In conclusion, even though competition rises with protocols launching airdrops and luring new addresses, Polygon may still survive in terms of activity.

However, it may have to work on the waning interest in its NFTs in the future.

#polygon #zkevm #matic #Layer2 #Polygon

Introduction:Artistic entrepreneurship offers a world of opportunities for creative individuals looking to venture into the commercial painting market. Businesses and organizations constantly seek ways to enhance their spaces with captivating artwork, making this industry a promising arena for talented artists. In this article, we will explore 20 innovative business ideas that can help artistic entrepreneurs thrive in the commercial painting market.1. Murals and Large-Scale Artworks for Offices:Creating large-scale murals and artworks for office spaces can transform bland walls into inspiring, branded environments. Artistic entrepreneurs can collaborate with businesses to design and execute unique pieces that elevate their workplace aesthetics.2. Custom Wall Art for Restaurants and Cafes:Restaurants and cafes often seek distinctive wall art to complement their ambiance and attract customers. Artists can offer customized paintings that align with the eatery's theme and resonate with their target audience.3. Hand-Painted Signage and Logos:Hand-painted signage and logos add a personalized touch to businesses' branding efforts. Entrepreneurs with calligraphy and sign painting skills can cater to companies looking to stand out with artisanal and visually appealing branding elements.4. Window Art for Retailers:Artists can collaborate with retailers to create eye-catching window displays that draw in passersby and boost sales. Window art offers an excellent opportunity to showcase creativity and attract potential customers.5. Street Art and Graffiti Art Workshops:Hosting street art and graffiti art workshops can be a unique way for artistic entrepreneurs to engage with their communities and promote local urban culture. Participants can learn various techniques and create their artwork.Read more : Businessidea90.blogspot.com#Levin #bnbgreenfield #zkevm #xrp

#zkevm Spot Bitcoin ETF applicants are in discussion with the US SEC regarding changes required for approval of Bitcoin ETF. $BTC price touches $29K.Bitcoin price briefly touched $29,000 on Wednesday in a move toward the $30,000 psychological level. It comes amid positive sentiment due to Bitcoin ETF talks in the market, especially from institutional investors. Bloomberg analysts said the spot Bitcoin ETF applicants are in discussion with the US SEC regarding changes required for approval of Bitcoin ETF.Spot Bitcoin ETF Issuers In Talks With the US SECBloomberg ETF analyst James Seyffart cites a post on X by lawyer Scott Johnsson regarding recent amendments recommended by the US SEC to spot Bitcoin ETF issuers. These include discussions on custodial arrangements, adherence to GAAP, risk disclosures, and electricity consumption in mining.Spot Bitcoin ETF applicants are in talks with the SEC on required changes to consider approving spot Bitcoin ETFs as per the deadline. Seyffart believes these are positive signs of considering an approval of spot Bitcoin ETF by the SEC.“That said there’s likely to be more amendments over the coming weeks and months. It’s an ongoing dialogue with feedback and responses etc. But will certainly be interesting to see what else the SEC may want in these documents.”CoinGape Media earlier reported that Bloomberg analysts Eric Balchunas and Seyffart increased the odds of a spot Bitcoin ETF approval to 90% after Ark Invest and 21Shares updated its spot Bitcoin ETF prospectus. The approval by the SEC can come earlier if the deadline for the Grayscale lawsuit to convert GBTC to spot Bitcoin comes this year.Fidelity Updates Its Spot Bitcoin ETF FilingEric Balchunas shared that Fidelity Investments has amended its spot Bitcoin ETF with recent recommendations by the U.S. SEC. Other Bitcoin ETF issuers are also updating their spot Bitcoin ETF applications, with more changes likely coming in weeks and months.#BTC price has jumped 2% in the past 24 hours and 6% in a week amid spot Bitcoin ETF talks. The price is slowing moving toward $30,000 amid positive sentiment. #bitcoin saw massive buying by institutional investors last week, analysts expect to rise in demand this week.#bnbgreenfield #sui

#zkevm A zero-knowledge Ethereum Virtual Machine (zkEVM) is a type of virtual machine which requires zero-knowledge proof to verify a program. A zero-knowledge proof or zero-knowledge protocol is a method through which one person may convince another party that a particular assertion is true, without any additional information.zkEVMs run on top of the Ethereum Network. They process transactions, pile them up and pass them back down to Ethereum’s layer 1 mainnet. These roll-ups take a significant load off the ETH blockchain network. This results in cheaper and faster transactions.The Ethereum Virtual Machine (EVM) is not one piece of hardware or software. Instead, it is a combination of rules, standards, and software packages. When a host of computers run similar software, this set of standards results in a network.Early ZK-rollups were limited to straightforward token exchanges and payments since they couldn’t carry out smart contracts. ZK-rollups are now beginning to support Ethereum dApps thanks to innovation that was previously thought to be years away.Ethereum Virtual Machine: Equivalent vs CompatibleBeing EVM-equivalent means that the experience of developing in the system is the same as developing on the Ethereum network. Developers have the same tools and structure as the ETH mainnet.On the other hand, EVM-compatible means that the experience is not the same as the ETH network. The same tools and frameworks might not be available as those on the ETH blockchain. But nonetheless, the programs can run on the EVM.Polygon recently launched its zkevm and claimed that it was EVM-equivalent. However, users complained that the experience was not identical to the Ethereum blockchain and hence should not be called EVM-equivalent.Why is a zkEVM important?There are several advantages of a fully functional zkEVM.Firstly, it allows for secure scalability. Ethereum’s throughput difficulties can be resolved using EVM-compatible ZK-rollups without compromising network security. The constraints of the Ethereum consensus mechanism do not apply to ZK-rollups. Thus it leads to faster execution speeds.Secondly, zkEVMs will reduce transaction costs. Since the veracity of state transitions is already ensured by validity proofs, ZK-rollups can afford to post less information to Ethereum.Moreover, zkEVMs ensure faster finality and capital efficiency.Utilizing the Network effects is the main motivation for creating EVM-compatible zkVMs. The largest smart contract platform in the world, Ethereum offers a sizable ecosystem that benefits both developers and projects.Developers have access to a wealth of tooling, documentation, and code libraries that have been rigorously tested and verified. The network effects of Ethereum cannot be utilized by projects or development teams if a new zkVM is built that is incompatible with Ethereum’s infrastructure.