Top Cryptocurrencies to benefit the most from Ethereum’s growth
The much-awaited Ethereum merge is expected to take place in September. It is a big step towards improving Ethereum scalability while retaining its decentralized nature.
While talking about the merge at the EthCC, Ethereum’s founder, Vitalik Buterin, said that the merge would make Ethereum’s development process only 40% complete. He added that going into the future; the focus will be on taking the load off the Ethereum mainnet. Vitalik said that besides layer-2’s handling most transactions, there was a need to eliminate the need for Ethereum nodes to store the blockchain’s entire history.
Going by Vitalik Buterin’s talk, it is clear that as Ethereum continues to evolve, there are cryptocurrencies within the Ethereum ecosystem that are set to reap big.
Below are some of the cryptocurrencies most likely to succeed for anyone interested in crypto as Ethereum evolves into a more decentralized and scalable internet computer.
The Graph (GRT)
Vitalik Buterin specifically referenced The Graph (GRT) as one of the cryptocurrency projects that have a major role to play in the future growth of Ethereum. According to Buterin, The Graph is a valuable tool that can be used to store Ethereum’s historical data instead of keeping it on-chain.
This is a big deal, as it puts The Graph at the forefront of cryptocurrencies whose futures are directly tied to that of Ethereum. Already, The Graph is showing positive signals after the comments that Buterin made about it at the EthCC. While most cryptocurrencies have eased up a little in the last 24 hours, The Graph continues to surge in value.
It is an indicator that investors are excited about The Graph’s role in the Ethereum ecosystem going into the future. As this use case takes shape, The Graph stands out as one of the cryptocurrencies with strong growth potential.
Polygon is one of the best-performing cryptocurrencies this week. In the last 7-days, Polygon is up by 30%, and upside momentum is rising. This is largely driven by news that Disney added Polygon to its Accelerator program.
However, the more important news is that the Polygon team is working hard to make Polygon stand out as one of the best Ethereum layer-2s in the market. Earlier in the week, Polygon co-founder, Bjeric said that they were committed to Ethereum and looking to give back to the Ethereum ecosystem.
Many have speculated that the giving back is in the form of launching Polygon Hermez. Hermez will introduce zero-knowledge proofs (Zk Rollups) to Polygon. Not only will this help Polygon scale better (to Ethereum’s benefit), but it will also significantly improve security. That’s because, with Zk Rollups, it is possible to verify a transaction without revealing the identity of the one verifying it.
With Ethereum set to entrench its dominance after the merge, Polygon comes across as a top cryptocurrency worthy of investing in now. The odds are that as Ethereum grows, so will MATIC.