Polygon is a leading layer 2 scaling solution for Ethereum and it is also one of the most popular cryptocurrencies around the world. The layer 2 solution seeks to combat the scalability issues of the Ethereum network, with a primary focus on the DeFi space. Recently, the blockchain gained major attention due to the launch of its much-awaited ZK EVM Mainnet.
ChatGPT was asked about the future of Polygon, its position in the DeFi ecosystem, and its competition with other DeFi projects. The AI-based chatbot quickly highlighted the notable features of the Polygon project and mentioned some of its possible benefits. Additionally, ChatGPT also suggested that zkEVM has the potential to engage users and applications more efficiently and it will be interesting to see how zkEVM stacks up against other scaling solutions.
The main competitor of Polygon in the DeFi space is Solana. The layer2 platform offers high scalability and throughput but recently, it faced some issues like the forking event which affected users’ ability to transact. Regarding the direct threat that Solana could posed to Polygon, ChatGPT believes both networks may serve different use-cases and coexist.
Moreover, Polygon has a few more projects in the pipeline such as Polygon Miden which facilitates the creation of STARK-proofs for transactions. When asked, ChatGPT has limited knowledge and could not comment much on it. However, a re-educated version of the ChatGPT showed immense confidence in MATIC, Polygon’s native token, and expects it to reach an astounding mark of 10,000 to 100,000 USD by the end of 2023.
At the same time, market indicators were sending warnings that MATIC could drop further, in the near future. All signals were pointing towards bearish sentiment and the EMA Ribbon suggested the bears have been dominating the bulls.
It is clear from the responses by ChatGPT that the AI based chatbot is extremely bullish on Polygon and its future. Not only does it have confidence in the token price appreciation, but also in the innovating projects that are going to carry the blockchain network forward.
About Polygon
Polygon is a Layer 2 scaling infrastructure for Ethereum blockchain. It is an ecosystem that connects Ethereum and its assets with various Polygon-based chains. It has developed a wide range of scaling solutions such as Polygon SDK, Plasma-based coins, zkRollup and zkSync, Security-based coins, Optimistic Rollup, and more. With the help of these scaling solutions, its users can increase the speed and reduce the cost of transactions.
About ChatGPT
ChatGPT is an AI-powered chatbot developed by AiChat. It is a conversational AI platform that is being used in multiple industries ranging from customer service to e-commerce. The AI-bot is tailored to a company’s needs and can be completely automated in providing answers to customer inquiries. It can also learn from user interaction and provide more personalized responses. With its ability to quickly learn, recognize and suggest appropriate actions, ChatGPT is quickly becoming an essential part of the customer service system.
