Polygon Makes ZK Ethereum Compatible to Stay Strong as Chronoly’s Growth Marches to Moon
2022.08.05 13:34
Polygon Makes ZK Ethereum Compatible to Stay Strong as Chronoly’s Growth Marches to Moon
Key Points:
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- Polygon made ZK compatible with Ethereum to increase the use cases of the token.
- Chronoly’s price has surged from $0.01 to $0.06 in just two months since its launch.
- Chronoly’s pre-sale is in its third phase, with investors expecting it to grow by 3000%.
Amid the ongoing downfall of the crypto market, a few tokens are trying to stay strong. Polygon (MATIC) is one such token that has been innovating continuously to keep the impact of the market crash away. It recently introduced a new feature on its platform that aims to increase the use cases of MATIC. If the use cases of Polygon increase, it would result in the increased trade volume of MATIC, appreciating the token’s value.
Meanwhile, a new player in the cryptocurrency arena, Chronoly.io, has become one of the most valuable tokens. Chronoly.io rise is undoubtedly considered exceptional, if not historical. Chronoly’s CRNO token has registered a growth of over 500% in only two months of its pre-sale since its launch in May 2022.
Polygon And Chronoly.io Are Fundamentally Different
Polygon is basically a layer 2 scaling solution, or “sidechain,” which aims to provide faster transactions and lower costs for users. For this, you can “bridge” some of the MATIC you own over to Polygon and interact with various popular crypto apps exclusive to the Ethereum mainnet. Polygon’s native token is MATIC.
Chronoly.io is the first blockchain-based digital marketplace for luxury watches. The project lets people purchase fractional shares in the NFTs of rare collectable watches, starting from as little as $10. Also, buyers can claim ownership over a luxury watch and get its physical version if they hold 100% of the watches NFTs.
Furthermore, CRNO has many use cases in the Chronoly.io ecosystem, making it more attractive to holders. Chronoly.io also provides a lending protocol for users to loan out their NFTs. CRNO holders can also take loans against the watch NFTs they own. They can also stake their NFTs to gain passive income.
What Polygon Aims With ZKEVM and How Chronoly’s Value Is Skyrocketing?
The recent market crash has forced Polygon to increase its use cases to stay afloat. Therefore, Polygon has made ZK Ethereum compatible, a long-due development. Polygon ZKEVM allows developers to build on Polygon ZKEVM, similar to how it would be done on Ethereum. Any Ethereum smart contract and tool compatible with Ethereum can also be used on Polygon ZKEVM. Thus, the crypto platform aims to keep its trade volume in momentum, as the MATIC price depends heavily on it.
ZKEVMs are a zero-knowledge (ZK) rollup. It is a layer 2 network that runs atop Ethereum to process transactions and pass them back to Ethereum’s layer 1 mainnet. ZK rollups are intended to take some of the load off Ethereum’s highly trafficked layer 1 network. As a result, the rollups promise to offer cheaper transactions.
On the other hand, Chronoly.io‘s CRNO has emerged as the most shining gem in the crypto arena. Chronoly’s CRNO token has gained massively during its pre-sale phase, and more investors are putting their faith and money in the project confidently.
Chronoly.io has a unique and transparent roadmap for the project. It buys the physical version of luxury watches, such as Patek Phillippe, Rolex, and Richard Mille, and mints NFTs against them.
Confidence from the crypto community has resulted in CRNO’s price skyrocketing from $0.01 to $0.06 since its launch in May 2022. Moreover, investors are optimistic that CRNO’s value can rise by 3000% before the end of the pre-sale, with its price touching the mark of $0.75.
Learn more about Chronoly.io by visiting the official website, Telegram or Twitter (NYSE:TWTR).
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