Disclaimer: The data introduced doesn’t represent monetary, funding, buying and selling, or different varieties of recommendation and is solely the author’s opinion
Polygon [MATIC] is without doubt one of the hottest cryptocurrencies on the earth. At press time, it had a market capitalization of $9.2 billion, making it the ninth-largest crypto by market cap.
It’s a layer 2 scaling resolution for Ethereum [ETH], one which goals to handle the community’s scalability points with a major give attention to the DeFi house. The blockchain just lately stole the limelight after it launched its much-awaited zkEVM mainnet.
The second we’ve all been ready for – Polygon #zkEVM Mainnet Beta is LIVE with @VitalikButerin performing the symbolic first transaction.
👏🏿 Permissionless
👏🏾 Public
👏🏽 Quick finality
👏🏼 Main EVM-equivalent zkEVM
👏🏻 Fully open-sourceExtra 👇🏻https://t.co/Xo4mbhnASh
— Polygon (Labs) (@0xPolygonLabs) March 27, 2023
As Polygon continues to rise above others within the DeFi house, ChatGPT had some insightful ideas about the way forward for Polygon, its place within the DeFi ecosystem, zkEVM, and so on.
Learn Polygon’s [MATIC] Value 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 folks view the group surrounding layer-2 protocols. The community has now established a benchmark for brand new layer-2 protocols within the cryptocurrency business.
Once I questioned ChatGPT concerning its ideas about zkEVM, the AI bot rapidly highlighted the answer’s notable options whereas additionally mentioning a number of key advantages. The bot additionally added that, as L2 options proceed to develop, it is going to be fascinating to see how zkEVM competes with others.
Supply: ChatGPT
Along with this, when requested whether or not zkEVM would have a broader influence on Polygon, ChatGPT responded confidently, stating,
“Total, 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 circumstances 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 into the primary L2 scaling resolution, because the title was taken by zkSync. The answer went reside simply three days earlier than the launch of Polygon’s zkEVM.
gm zkEVM! 👋🏻
zkSync Period Mainnet Alpha is now open to all customers.
Builders, tasks, and customers can now expertise the facility of zkEVM.Learn extra: https://t.co/pL5PuZqanu
1/11 pic.twitter.com/oS6dwmXzeB
— zkSync ∎ (@zksync) March 24, 2023
Upon asking ChatGPT about which certainly one of them was higher, it was hesitant to ship a crisp response. The AI bot acknowledged that the selection between Polygon zkEVM and zkSync might depend upon a number of components, like developer familiarity with programming languages, particular use circumstances, and venture targets.
Supply: ChatGPT
Ideas about Polygon’s competitor, Solana
One other essential participant within the DeFi house is Solana [SOL], which can be a direct competitor of Polygon. Nonetheless, Solana’s reliability has at all times been in query, because it has fallen sufferer to a number of outages over time.
The most recent one occurred in February when the Solana community skilled a forking occasion that throttled customers’ capability to execute transactions. Nonetheless, it was fastened later.
Roughly quarter-hour in the past the Solana group efficiently resumed the cluster – engineers will proceed to watch 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 house, ChatGPT responded by highlighting Solana’s achievements and the potential for each networks coexisting to serve totally different use circumstances.
Supply: ChatGPT
It added,
“In conclusion, whereas Solana’s excessive scalability and throughput make it a lovely choice for DeFi tasks, it’s tough to say whether or not it poses a direct risk to Polygon.”
Nonetheless, to get a greater opinionated response from the AI pal, I attempted to reeducate it by “jailbreaking” the AI. It was fascinating to see a special response from ChatGPT after it was jailbroken. Within the new response, it talked about that Solana might turn into a significant competitor for Polygon within the coming years.
Supply: ChatGPT
Polygon and its future
Other than zkEVM, Polygon additionally has fairly a number of tasks within the pipeline, which too, have the potential to gas development sooner or later. As an example, Polygon Miden. It is going to be the primary decentralized rollup that leverages execution proofs of concurrent, native transactions. Miden will permit anybody to execute a transaction and create a STARK-proof for the community.
Nonetheless, ChatGPT’s information concerning Miden was not sufficient. Subsequently, its reply when requested concerning the potential influence of Miden on Polygon was not on par.
Supply: ChatGPT
ChatGPT’s predictions for MATIC
At press time, Polygon’s native token MATIC was down by practically 3% within the final 24 hours. The crypto was trading at $1.12. Upon asking about MATIC’s value motion, the re-educated model of ChatGPT confirmed immense confidence in MATIC and talked about that it might flip bullish quickly.
It acknowledged that Polygon’s current partnerships have already sparked curiosity and pleasure amongst buyers and merchants. This could replicate on MATIC’s chart within the coming days.
Supply: ChatGPT
Once I questioned the bot additional, it did give me a quantity which appeared very formidable. As per the jailbroken AI bot, it expects MATIC to cross the $50-mark by the tip of this 12 months. The prediction made by ChatGPT, in line with me, was an extended shot and never very prone to translate into actuality.
Nonetheless, it did point out the risky nature of the crypto-market. So, nothing may be anticipated with utmost certainty and buyers are greatest suggested to do their very own analysis.
Supply: ChatGPT
How a lot are 1,10,100 MATICs value at this time
A more in-depth take a look at MATIC’s day by day chart
At press time, Polygon’s native token MATIC was down 0.37% within the final 24 hours. The crypto was buying and selling at $1.00. Upon asking about MATIC’s value motion, the re-educated model of ChatGPT confirmed immense confidence in MATIC and talked about that it might flip bullish quickly.
Supply: TradingView
It acknowledged that the token will expertise a large surge in its worth quickly, making early buyers very rich.
Supply: ChatGPT
Once I questioned the bot additional, it did give me a quantity that appeared very formidable. 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 under.
ChatGPT added that the prediction is solely fictional and shouldn’t be taken severely.
Supply: ChatGPT
A more in-depth take a look at MATIC’s day by day chart
In contrast to ChatGPT’s predictions, issues weren’t trying good for MATIC at press time. A lot of the market indicators had been within the bears’ favor and prompt an extra drop in value. For instance, the Exponential Transferring Common (EMA) Ribbon, the bears appeared to dominate the bulls in current days. Contemplating the opposite indicators, it’s possible that the bears will emerge victorious.
All the indications prompt that MATIC’s value would hold plummeting additional, for the following few days no less than.
Supply: MATIC/USDT, TradingView
Polygon and DeFi, a match made in heaven?
As Polygon continues to develop and develop its DeFi ecosystem, one factor may be mentioned with certainty- the blockchain has an extended solution to go and plenty of extra milestones to realize over time to come back.
So, I considered asking ChatGPT probably the most beneficial query: Polygon and DeFi, a match made in heaven?
Supply: ChatGPT
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.
Conclusion
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 formidable.
Nonetheless, contemplating Polygon’s present state, solely time will inform us whether or not ChatGPT’s predictions and views replicate on paper.
