What if I told you that Polygon has a trillion dollar strategy and that its success depends on what they do in 2023.
Well if you're skeptical I feel you because I was too but then I discovered. Their five-part strategy that turned me.
Let's analyze each of those five parts and then you tell me what you think about. Polygon afterwards okay so part one is all about the tech polygon's plan is to build Best in Class technology as a smart contract platform that means their Tech has to make them fast cheap and secure and that's exactly what they're aiming for with their zero knowledge or ZK Solutions remember polygon has always positioned themselves as a scaling Solution for ethereum and that's why they're all in on building Roll-up Especially of the ZK variety if you
study ethereum's long-term scaling
roadmap you'll see that they're all
about layer 2 Solutions and out of all
the options available ZK Roll-Ups are
like the final form end State Solution
on a high level Roll-Ups are just
blockchain so we go there to send
transactions and use daps like we
normally do but the experience is super
user friendly because they're fast cheap
and scalable ZK roll-ups also inherit
the world-class security of ethereum
because they periodically post a proof
on the ethereum blockchain to ensure
that all transactions are valid so
polygon is actually working on multiple
different ZK Solutions such as zero
maiden and Nightfall but their number
one priority in this area is actually
their ZK evm solution and if you think
about it it actually makes a ton of
sense to focus on that first because
while ZK Roll-Ups do have advantages
over other types of scaling Solutions
one big disadvantage is that they're not
compatible with the ethereum virtual
machine that means you can't take
popular ethereum dapps and easily launch
them on a ZK roll up you'd have to code
them from scratch and nobody wants to do
that but polygon is looking to change
things with their ZK evm solution
they're looking to build a roll-up
solution that is fully evm compatible
right now they are at partial evm
compatibility and they just launched a
public test net for that in October of
2022. they plan on launching their main
net sometime in 2023 and I can't wait to
try it out it'll have 90 percent less
gas fees than ethereum 2 000
transactions per second and we'll be
able to use some of our favorite daps
like Ave uni Swap and lens which have
all already launched on their test net
now the underlying Tech is of course
important but even the fanciest platform
means nothing without Builders and
that's why part two of polygon strategy
is to create the best and most welcoming
ecosystem for developers so how are they
doing that well they're actually
approaching this from multiple different
angles for example they have polygon
Academy and polygon University both of
which teach devs how to build apps on
polygon then there's polygon guilds
which creates opportunities for devs to
meet up and potentially collaborate
there's also polygon Village which
pretty much provides all the support a
Dev could want I'm talking grants hiring
audits listing and much more so all
these initiatives prove that polygon is
serious about creating a great
experience for devs and if we look at
the stats we see that their effort is
already paying dividends this chart from
massari shows that polygon's developer
activity is holding steady even through
the bear market and given that many of
these initiatives I listed were just
launched in 2022 I only expect it to get
better in 2023 so I think they're doing
a great job here better than most of
their competitors now part three of
their strategy is what I'm most excited
about because it's going to elevate
their Matic Token to a whole new level
but before we get there I want to talk
about privacy on polygon or lack thereof
because every time you send a
transaction or use adapt people can see
what you did on polygon scan so this
very little privacy and to be fair this
is an issue for a lot of blockchain
networks not just polygon fortunately
there is a solution for polygon ethereum
and BSC users it's called the railway
wallet they are a self-custodial wallet
that lets you do all your crypto and
defy activities in a private Manner and
they're also the sponsor of our video
Railway lets you Shield send receive and
swap any erc20 token in a private Manner
and their approaches so unique they give
you both a private and public address
and you can move your tokens between
them through a method called shielding
but you know what's even better you
don't need Matic eth nor their rail
token at all because gas fees can be
paid in the token you transact in so for
example if you Shield your die you can
pay the gas fees and die that's super
cool and they just upgraded their wallet
recently so now we can shield into any
private address as well as choose our
own gas fees if you want to learn more
just go check them out using my link
below alright so part three of polygon's
grand plan is to give their Matic token
a makeover in fact when it's all said
and done it won't even be called Matic
anymore it'll have a new ticker symbol
perhaps poly or PGN anyways I think this
makes a ton of sense because their Matic
token is a remnant of their old proof of
stake Network it was used to pay for gas
fees staking voting all your usual stuff
but now they have all these new
Solutions under their umbrella so they
need a token that works for all of them
I think this is super important because
polygon is showing a ton of promise with
their Tech and adoption but if the token
is just for show then it will only ever
be used for speculation and all the real
adoption going on won't drive demand to
it that's why their token redesign is of
utmost importance and the team knows it
in fact they've been planning for this
since late 2021 but we haven't heard too
many details yet my current
understanding is that more details will
come out in 2023 and we may even see the
new token next year it's also rumored
that their new token will solve a lot of
the problems plaguing the current token
for example there's a big incentives
problem on the horizon with their
current tokenomics right now validators
get staking rewards that are generated
by token inflation but that's set to end
in a few years and when it does
validators are not going to earn enough
Revenue to keep going so that's a big
problem on the radar which will
hopefully be addressed during the
redesign another problem is with their
on-chain governance their current model
leaves a lot to be desired and the hope
is that the new token will play a bigger
role in whatever system they come up
with speaking of governance revamping
that is part 4 of polygon strategy their
goal is to beef that up and to gradually
increase the decentralization of all
their products they actually started
working on this in early 2022 with the
formation of their governance team and
the polygon Dao it's great to see them
working on governance because the
community has long criticized them for
being too centralized for example
there's that multi-sig wallet that
controls the whole polygon Network and
is controlled by just five entities most
of which are connected to them so I
think the sooner they can turn over
control of the network to the community
the better and in terms of polygon Dao
there's some really cool Innovation
going on there they have this new
identity solution called polygon ID
which is based on their zero knowledge
Tech it lets you vote build a reputation
and confirm your personhood all without
revealing any private info so this new
ID solution enables new forms of Dow
governance and decision making like
instead of voting based on how many
tokens you hold they could create a
system that's based on your digital
identity and reputation all super cool
stuff that I can't wait to see but it'll
likely take more than a year to fully
flesh out so this won't have as big of
an impact in 2023 unfortunately on the
other hand polygon's Partnerships will
most definitely have a big impact next
year and that's actually part 5 of their
grand plan which is the grow adoption
through world-class Partnerships a lot
of people on crypto Twitter have
actually described polygon's business
development team as god tier because
they've gotten so many brand name
Partnerships that their peers must be
jealous for example they have a lot of
Partnerships with big web 2 companies
there's stuff going on with Disney Robin
Hood Starbucks doing things like
building immersive experiences building
wallets Etc they also have a bunch of
Partnerships with banks and fintech
companies like they helped the
Singaporean government and JP Morgan
test out cross-currency transactions on
their blockchain they also partnered
with new bank in Brazil to build out
their rewards and loyalty program for
their 70 million users but it's not only
traditional Finance and web 2 companies
though polygon is also working with a
bunch of gaming and entertainment
companies there's actually too many to
share so I'm not going to list them all
but from what I can tell it looks like
they're investing a lot in Play-Doh and
games nfts and metaverse projects for
nft specifically I was super impressed
by their ability to pull off
Integrations with both Instagram and
Reddit I think that those Integrations
plus their other Partnerships in this
area could bring crazy amounts of
traffic to their blockchain in the near
future anyways that's my take but what
do you think about polygon after
watching this video if you're bullish
and decide you want to go play around
and use them then be sure to use the
railway wallet so everything you do will
stay private it's free.