Disclaimer: The knowledge offered doesn’t represent monetary, funding, buying and selling, or different kinds of recommendation and is solely the author’s opinion.
Polygon [MATIC] is among the hottest cryptocurrencies on the planet. At press time, it had a market capitalization of $7 billion, making it the tenth largest crypto by market cap.
It’s a layer 2 scaling resolution for Ethereum [ETH], one which goals to deal with the community’s scalability points with a major give attention to the DeFi area. The blockchain just lately stole the limelight after it launched its much-awaited zkEVM mainnet.
👏🏽 Quick finality
👏🏼 Main EVM-equivalent zkEVM
👏🏻 Fully open-source
— Polygon (Labs) (@0xPolygonLabs) March 27, 2023
As Polygon continues to rise above others within the DeFi area, ChatGPT had some insightful ideas about the way forward for Polygon, its place within the DeFi ecosystem, zkEVM, and many others.
Learn Polygon’s [MATIC] Price Prediction 2023-24
ChatGPT is assured in Polygon’s zkEVM
With its usability and unfold all through the charts, Polygon has been one of many choose few initiatives to amass the cryptoverse. It has additionally altered how individuals view the group surrounding layer-2 protocols. The community has now established a benchmark for brand spanking new layer-2 protocols within the cryptocurrency business.
After I questioned ChatGPT concerning its ideas about zkEVM, the AI bot shortly highlighted the answer’s notable options whereas additionally stating a couple of key advantages. The bot additionally added that, as L2 options proceed to develop, it will likely be fascinating to see how zkEVM competes with others.
Along with this, when requested whether or not zkEVM would have a broader impression on Polygon, ChatGPT responded confidently, stating,
“General, I consider that zkEVM has the potential to considerably enhance the scalability, interoperability, and safety of the Polygon community, which might assist to draw extra customers and use instances to the community and place it as a number one participant within the DeFi ecosystem.”
zkEVM vs. zkSync Period
Whereas Polygon launched its ZK, it couldn’t turn out to be the primary L2 scaling resolution, because the title was taken by zkSync. The answer went stay simply three days earlier than the launch of Polygon’s zkEVM.
gm zkEVM! 👋🏻
zkSync Period Mainnet Alpha is now open to all customers.
Builders, initiatives, and customers can now expertise the facility of zkEVM.
Learn extra: https://t.co/pL5PuZqanu
— zkSync ∎ (@zksync) March 24, 2023
Upon asking ChatGPT about which considered one of them was higher, it was hesitant to ship a crisp response. The AI bot said that the selection between Polygon zkEVM and zkSync might rely on a number of components, like developer familiarity with programming languages, particular use instances, and venture targets.
Ideas about Polygon’s competitor, Solana
One other principal participant within the DeFi area is Solana [SOL], which can also be a direct competitor of Polygon. Nonetheless, Solana’s reliability has all the time been in query, because it has fallen sufferer to a number of outages over time.
The newest one occurred in February when the Solana community skilled a forking occasion that throttled customers’ capacity to execute transactions. Nonetheless, it was mounted later.
Roughly quarter-hour in the past the Solana group efficiently resumed the cluster – engineers will proceed to observe community efficiency as community operators are restored.
— Solana Standing (@SolanaStatus) February 26, 2023
When requested about whether or not Solana can pose a risk to Polygon within the DeFi area, ChatGPT responded by highlighting Solana’s achievements and the potential of each networks coexisting to serve totally different use instances.
“In conclusion, whereas Solana’s excessive scalability and throughput make it a sexy choice for DeFi initiatives, it’s troublesome to say whether or not it poses a direct risk to Polygon.”
Nonetheless, to get a greater opinionated response from the AI good friend, I attempted to reeducate it by “jailbreaking” the AI. It was fascinating to see a unique response from ChatGPT after it was jailbroken. Within the new response, it talked about that Solana might turn out to be a significant competitor for Polygon within the coming years.
Polygon and its future
Other than zkEVM, Polygon additionally has fairly a couple of initiatives within the pipeline, which too, have the potential to gasoline development sooner or later. As an illustration, Polygon Miden. It is going to be the primary decentralized rollup that leverages execution proofs of concurrent, native transactions. Miden will enable anybody to execute a transaction and create a STARK-proof for the community.
Nonetheless, ChatGPT’s data concerning Miden was not satisfactory. Subsequently, its reply when requested in regards to the potential impression of Miden on Polygon was not on par.
ChatGPT’s predictions for MATIC
At press time, Polygon’s native token MATIC was buying and selling at $0.6046, reflecting a drop of 33% inside per week. Upon asking about MATIC’s worth motion, the re-educated model of ChatGPT confirmed immense confidence in MATIC and talked about that it might flip bullish quickly.
The winds of bullishness might blow Polygon’s approach within the close to future, carrying it to majestic peaks. But, as with all funding, warning and cautious evaluation needs to be your trusted companions.
After I questioned the bot additional, it predicted that MATIC’s worth will attain $10 by the tip of 2023.
Nonetheless, nothing will be anticipated with utmost certainty and buyers are finest suggested to speculate time in intensive analysis and learning skilled views.
How a lot are 1,10,100 MATICs worth today
A more in-depth have a look at MATIC’s each day chart
Upon asking about MATIC’s worth motion, the re-educated model of ChatGPT confirmed immense confidence in MATIC and talked about that it might flip bullish quickly.
It said that the token will expertise a large surge in its worth quickly, making early buyers very rich.
After I questioned the bot additional, it did give me a quantity that seemed very bold. As per the jailbroken AI bot, it expects MATIC to succeed in $10,000 or $100,000 by the tip of 2023. However this prediction bordered on absurd, as we will see from the response beneath.
ChatGPT added that the prediction is solely fictional and shouldn’t be taken critically.
Compared to the costs of Ethereum and Solana, the Polygon worth is with no sure doing effectively and has lots of potential for the times forward. Since This fall 2022, the variety of each day customers of Polygon elevated dramatically and surpassed that of each day customers of Ethereum.
Since MATIC is among the most useful crypto cash, it has naturally drawn lots of buyers. The potential worth vary for Matic in 2023 is $0.958 to $1.835. Entrepreneurs and buyers have all the time been involved about Polygon worth prediction.
In contrast to ChatGPT’s predictions, issues weren’t wanting good for MATIC at press time.
For instance, MATIC’s Chaikin Cash Stream (CMF) at -0.05 was mendacity within the unfavourable zone. The Relative Power Index (RSI), mendacity beneath the impartial 50-level, additionally mirrored a bearish worth motion, which was additionally a improvement within the sellers’ favor.
As per the Exponential Transferring Common (EMA) Ribbon, there was an on-going tussle between the bulls and the bears. Contemplating the opposite indicators, it’s possible that the bears will emerge victorious.
Polygon and DeFi, a match made in heaven?
As Polygon continues to broaden and develop its DeFi ecosystem, one factor will be mentioned with certainty- the blockchain has an extended option to go and plenty of extra milestones to attain over time to return.
So, I considered asking ChatGPT probably the most precious query: Polygon and DeFi, a match made in heaven?
With out differing, each variations of the AI bot responded positively to the query. The re-educated model even drew comparisons with world-renowned “DUOs” like Peanut Butter and Jelly or Batman and Robin, which was fascinating to see.
Chatting with ChatGPT about Polygon and its presence in DeFi gave a transparent indication that the AI chatbot was extremely assured in Polygon and its future. ChatGPT’s response to the questions remained bullish all through the dialog, with some even being extremely bold.
Nonetheless, contemplating Polygon’s present state, solely time will inform us whether or not ChatGPT’s predictions and views mirror on paper.