Bittime – Polygon, an Ethereum scaling solution, has made a major milestone. The first phase ofUSDCto PolygonPoSis now officially underway. Native USDC means direct minting and redemption from Polygon PoS, promising capital efficiency and a better user experience.
USDC Native on Polygon
In Polygon's overall ecosystem efforts, DeFi protocols, bridges, and NFT marketplaces are helping to encourage users to stop using the bridge version of USDC and replace it entirely with the native version. Ethereum's USDC bridge at Polygon PoS, called USDC.e, is a wrapped version of the native Ethereum token.
Native USDC on Polygon PoS is a huge improvement over the bridge version, giving users more functionality and a better experience. Native USDC can be minted and redeemed directly on Polygon PoS, is fully backed up, can always be redeemed 1:1 for US dollars, and is supported by Circle Account and its API.
Native USDC on Polygon PoS now allows users to access USDC directly on Polygon PoS, while simplifying the process and adding value.
Native USDC first launched on Polygon PoS last October in response to community feedback and requests; however, the migration is not complete. The complete migration will facilitate a better user experience and wider adoption of the Polygon PoS network.
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New Improvements for Polygon
In early March, the Elderberry upgrade launched on Polygon zkEVM, bringing important optimizations to the ROM that will reduce certain out-of-counter errors on the network and some additional fixes to the latest Etrog upgrade.
The Dencun upgrade, which includes six EIPs related to Ethereum execution logic, launched on Ethereum mainnet on March 14.
Polygon benefits from Dencun's improvements because zkEVM Type 1 proofs preserve all Ethereum execution logic. All features in the Dencun upgrade have been developed for zkEVM Type 1 proofing.
Of the five other EIPs related to execution logic, the zkEVM Type 1 proof will include support for four, with EIP-2537 still unresolved. EIP-2537 verifies KZG's commitment and, for now, its value is considered public input.
Impact of Native USDC Migration
The native USDC migration to Polygon PoS is expected to have several positive impacts, including:
1. Lower Transaction Fees
Direct transactions on Polygon PoS are expected to be more cost effective compared to using a bridge from Ethereum.
2. Higher Transaction Speed
Migration can increase the speed of USDC transactions on Polygon PoS because there is no need to go through a time-consuming bridging process.
3. Enhanced Security
While USDC.e's security is guaranteed, reducing reliance on third-party bridges can improve the overall security of the Polygon ecosystem.
4. Better Liquidity
With easy access and use of native USDC, the overall liquidity of USDC on Polygon PoS has the potential to increase.
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The Future of Polygon
The native USDC migration marks an important step for Polygon. Additionally, the upgrade of Elderberry and Dencun shows Polygon's commitment to continuing to innovate and improve its technology. With the advantages of low transaction fees, high speed and good security, Polygon is expected to attract more users and projects to its network.
However, it is worth noting that the native USDC migration is still in its early stages. Users should remain cautious and ensure they are using the correct version of USDC for their transactions. Widespread adoption of native USDC will depend heavily on support from DeFi projects and platforms on the Polygon network.
How to Buy Polygon (MATIC) on Bittime
You can buy and sell Polygon (MATIC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Polygon (MATIC) is available on Bittime with the market pair MATIC/IDR . To be able to buy MATIC IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Polygon (MATIC) on Bittime .
Monitor the price chart movements of Polygon (MATIC) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Polygon Bridge: What Is It, and How to Use It?
Polygon (MATIC): Positive Trend and Predicted to Touch ATH?
Impact of Ethereum Dencun Upgrade on Polygon Network (MATIC)
DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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