Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. With this mission in mind, we are proud to share our November edition of Movers and Shakers, the monthly resource aiming to bring more transparency and credibility to the rapidly evolving crypto space.
As new assets reach a certain degree of accessibility to investors, specifically as they achieve alignment with our Market Selection Framework and the Trusted Volume Framework, Coin Metrics uses its crypto expertise to describe the assets’ context of use. The following assets are expected to reach alignment this month:
Polygon Network (POL) is a network scaling solution for Ethereum focused on creating zero-knowledge rollups and cross-chain coordination. Polygon’s architecture restructuring allows developers to build their own Layer-2 chains without compromising user privacy. Each chain’s zero-knowledge proofs can protect unnecessary user data being shared when conducting transactions. Polygon separates the staking, interoperability, execution, and proving layers to create cheap transaction fees and decrease network congestion. Validators can stake tokens to simultaneously validate and secure multiple networks such as Polygon PoS and Polygon zkEVM. Users benefit from shared native Ethereum assets and can seamlessly move between available chains on the Polygon network using Polygon’s AggLayer. POL tokens are to be migrated 1:1 from the MATIC address and can be staked to secure networks, rewarded to validators, and used to vote on governance proposals to manage the community treasury.
The Open Network (TON) is a multi-chain smart contract platform initially developed by the team at Telegram providing data security for applications on a highly scalable network. TON uses cells to store data, one cell containing up to 1023 bits of data and four references. Cells cannot be modified or read directly to protect user data in messages and transactions. TON’s Abstract Datagram Network Layer enables users to directly send messages to peers while maintaining data privacy. TON hosts workchains that shard data and increase the TON Blockchain’s capacity of operations. Integrating with Telegram Messenger helps simplify user onboarding and allows developers to build mini-apps for users to interact with and abstract away the underlying blockchain technology. TON tokens are used to pay transaction fees and staked by validators to secure the Proof-of-Stake network.
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