Mark Cuban has been talking a lot about DeFi lately and has openly expressed his enthusiasm for this movement. And now, the billionaire investor and Shark Tank star has invested in the blockchain scalability platform Polygon also known as Matic.
Mark Cuban appears to be more bullish than ever about crypto. This is wonderful news for the market and for investors of Polygon.
What is Polygon (Matic)?
“The issues of slow block confirmations and high gas fees need to be solved before we target mass adoption by mainstream users. And most importantly, it needs awesome user experience.”
https://matic.network/
Polygon is a scalability solution to Ethereum. While Ethereum 2.0 aims to solve the crisis of transaction fees, slow transaction times, and other scalability issues, it’s not enough alone. This is because the Ethereum network is continuing to grow. And as Ethereum becomes more widely used, the gas fees are only going to continue to get worse. So, Ethereum needs an outside solution to fix this problem. But how do Polygon and Ethereum work so well in harmony with one another? A Youtube channel called CryptoExplained says:
“The reason polygon and Ethereum can have this symbiotic relationships is because Polygon is a “many chain” platform. And it can use the power of these many chains to make sure that these transactions are a lot more scalable. In a lot of way it’s very similar to the lightning network with Bitcoin.”
Cuban is the biggest billionaire crypto bull
When Elon Musk recently stated that Tesla would no longer accept Bitcoin as a form of payment, Cuban immediately contradicted him by saying that his company, the Dallas Mavericks, will still accept Bitcoin and other cryptos. Mark Cubans is also arguably the most educated billionaire when it comes to cryptocurrency. He said recently in a Tweet:
“The idea of crypto isn’t that the money leaves the financial system. It’s what you can do with certain crypto assets (not all) that is a better alternative for various types of financial transactions than the banking system.”
Many wealthy hands have only dabbled in Bitcoin – some have bought Ethereum. But Cuban is certainly ahead of the game in his grasp of the crypto industry. He’s certainly leading the charge to adoption by investing in scalability solutions to Ethereum like Polygon. And it’s good to see support of a better financial system from a famous figure like Cuban.
Final thoughts
Mark Cuban’s interest in blockchain seems more serious and sincere than any other billionaire. Elon Musk, for example, mostly only tweets about Dogecoin and continually ignores projects with impressive technology and fundamentals.
If you enjoyed reading this article, you might also want to check out Internet Computer (ICP) – The New Kid on The Block.
Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.
