EQONEX, which was earlier known as Diginex and is a crypto exchange of the NASDAQ listed agency EQONEX, has introduced that it might be itemizing Polygon’s MATIC token on its exchange for buying and selling throughout the course of the week.
FinanceFeeds caught up with their head of Blockchain, Kelvin Ting, to focus on Ethereum, Polygon, and the plans of the exchange.
Kelvin mentioned that the exchange presently lists Ethereum (ETH), Polygon (MATIC), Bitcoin Cash (BCH), USD Coin (USDC), and Tether (USDT) amongst the altcoins with extra on the means.
On the cause for selecting MATIC to be listed, amongst 100s of different altcoins, he mentioned, “Polygon was chosen for itemizing as it’s a sturdy contender in the list of ecosystems which might push cryptocurrency in direction of mainstream adoption. The protocol already has greater than 300 decentralized tasks onboarded, and it’s unlikely that this uptake in adoption will fall any time quickly. ”
Polygon and Ethereum Growth and Upgrades
One of the scorching subjects being mentioned in the crypto business these days is how Polygon would match up with ETH 2.0 when it arrives and whether or not it might slowly transfer into oblivion when that occurs. Kelvin believed that this would solely assist the ecosystem and mentioned, “I see MATIC as being complementary to ETH 2.0. There are two methods to take a look at this – scalability and buying and selling alternatives. From the scalability perspective, ETH 2.0 may have a theoretical most restrict of 3200 transactions per second, primarily based on 64 shard chains with a restrict of fifty transactions per second per shard. On the different hand, the Polygon community is now ready to course of up to 7000 transactions per second on a shard. In addition, if a decentralized mission have been to be duplicated on each Ethereum and MATIC, this will supply customers freedom of selection, and there are a number of buying and selling alternatives between each networks, as this will successfully imply that there’s multiple buying and selling venue, introducing value inefficiencies for merchants to make a revenue out of. ”
On his views about ETH 2.0, he pitched in to say, ” We anticipate that ETH 2.0 will carry a couple of new age in cryptocurrency adoption – adjustments right here will make it much more possible for customers of Ethereum to carry out sensible contract operations and work together with decentralized purposes, in addition to for Ether to act as a forex. My view is that this will probably be relevant each methods, no matter whether or not it satisfies or doesn’t fulfill person/developer expectations, as it’s nonetheless a internet enchancment to the protocol. As talked about earlier, I don’t anticipate Ethereum to grow to be irrelevant.”
ETH Vs Solana
Finally, on the ETH vs Solana debate, Kelvin had this to say, “Ethereum and Solana are fascinating dialogue subjects. Both are sensible contract platforms that help DeFi and NFT protocols. At the second, Ethereum has the higher hand due to its ecosystem scale and maturity, however Solana is undoubtedly a worthy contender. However, when discussing all these, my view is that every blockchain has an element to play inside the wider cryptocurrency ecosystem. Having wholesome competitors between blockchains is accretive to the whole ecosystem as a complete and such competitors is crucial to be sure that blockchain applied sciences transfer forward in preparation for widescale adoption.”
EQONEX plans to add Chainlink (LINK) and The Graph (GRT) altcoins to the exchange shortly. It is also working on improved options like remoted margin, cross-asset collateralization, managed accounts, and dated futures that are probably to be launched quickly.