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New Delhi [India], April 13 (ANI/ATK): Arbitrum (ARB) has emerged as a formidable contender to Polygon (MATIC) in the competitive market for layer-2 blockchain technology.
With its innovative Optimistic Rollup infrastructure, Arbitrum aims to capture a significant share of the market previously dominated by Polygon. At the same time, Big Eyes Coin (BIG), a newly launched ERC-20 token, has generated significant attention from crypto investors with its groundbreaking NFTs in the form of unique and adorable Loot cards, making waves in the crypto industry. Layer-2 Blockchains: The Next Big Thing in Cryptos The concept of layer-2 blockchains has become the next big thing in the world of cryptocurrencies. In the early days, only layer-one blockchains like Bitcoin and Ethereum existed, commonly known as mainnets, and were the sole option for users. However, as the demand for cryptocurrencies grew and more tech-savvy investors entered the market, the scalability and transaction fees of these mainnet blockchains became limitations. To address these issues, crypto companies started building layer-2 blockchains on top of mainnets like Ethereum and Bitcoin, which offer greater flexibility and scalability compared to their layer-one counterparts. As a result, layer-2 blockchains have gained rapid popularity among crypto investors. ARB, MATIC Eye Top Spot in Layer-2 Blockchain List Given the advantages that layer-2 blockchains offer, a race has begun among crypto companies to become the top layer-2 solution in the market. Polygon (MATIC), a leading layer-2 blockchain solution, was designed to address the limitations of the Ethereum blockchain network. It aims to enhance the flexibility, scalability, and sovereignty of Ethereum-based blockchain projects while maintaining the security and structural benefits of the mainnet. Launched in 2017, Polygon serves as a bridge between Ethereum-based blockchain networks and provides a platform for creating interoperable blockchain networks. MATIC, the ERC-20 token used as a governance and utility token on the Polygon network, has significantly lower transaction fees compared to the Ethereum network, with users paying only around USD 0.01 per transaction. The consensus mechanism used on Polygon ensures faster transaction confirmations within a single block, with an average processing time of 2.1 seconds. Despite these significant advantages, the dependence on the Ethereum network exposes Polygon to potential disruptions that could negatively affect its value, resulting in a downward trend for MATIC, losing over 33 per cent of its value since March 2022. On the other hand, Arbitrum (ARB) has emerged as a potential competitor to Polygon as the latter experiences a bearish trend. The newly launched layer-2 blockchain technology of Arbitrum operates on the Ethereum mainnet and utilizes its ARB token to offer faster and more cost-effective transactions. Leveraging the Optimistic Rollup architecture solution, ARB has the capacity to process up to 2,000 transactions per second on the Ethereum blockchain. Since its debut in March 2023, ARB has quickly gained a market capitalization of USD 1.5 billion and is currently trading at around USD 1.21. With its impressive performance, ARB has the potential to challenge MATIC's market position, despite the latter being present in the market since 2017. This is mainly due to the fraud-proof technology inherent in Optimistic Rollup, which could provide ARB with a competitive edge and position it as a "MATIC killer." Big Eyes Coin Storms Past USD 33M In addition to the race among layer-2 blockchains, Big Eyes Coin (BIG) has recently entered the crypto scene with its unique approach. BIG, a newly launched meme coin operating on the Ethereum blockchain, powers the Big Eyes Coin ecosystem with its ERC-20 token, providing utility and governance functionality. The project aims to shift wealth into the Decentralized Finance (DeFi) ecosystem while also promoting the preservation of the world's oceans. The 12th stage of the presale for Big Eyes Coin has already raised over USD 33 million, indicating the significant interest from crypto investors. One of the key features that has gained attention is the Big Eyes Coin's Loot cards, which are NFTs (non-fungible tokens) that depict unique and adorable sea creatures with big eyes. These Loot cards are tradable on various NFT marketplaces, and some of them have already gained significant value, with collectors vying for rare cards in the Big Eyes Coin community. The concept of Loot cards has generated excitement among crypto enthusiasts and collectors, as they offer a unique and creative approach to NFTs. Each Loot card represents a specific sea creature, with different rarities and attributes that determine its value. Some of the rare Loot cards have already fetched substantial prices in the secondary market, with collectors aiming to complete their sets or acquire unique cards that are not easily available. The popularity of Big Eyes Coin's Loot cards has brought attention to the project and its overall ecosystem, as it combines the elements of meme coins, NFTs, and environmental conservation, making it a unique proposition in the crypto industry. Conclusion As the crypto market continues to evolve rapidly, the competition among layer-2 blockchains and the emergence of innovative projects like Big Eyes Coin are shaping the landscape. The battle between Arbitrum and Polygon for dominance in the layer-2 blockchain space, with their respective advantages and technologies, will be closely watched by crypto investors and enthusiasts. Similarly, the success of Big Eyes Coin and its Loot cards could pave the way for more creative and unique projects that leverage the power of blockchain technology in novel ways. As the crypto industry continues to grow and evolve, it will be exciting to see how these developments unfold and shape the future of cryptocurrencies and blockchain technology. Big Eyes Coin (BIG) Presale: https://buy.bigeyes.space/ Website: https://bigeyes.space/ Telegram: https://t.me/BIGEYESOFFICIAL This story has been provided by ATK. ANI will not be responsible in any way for the content of this article. (ANI/ATK)
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