The emergence of innovative projects has been the saviour of the day in this bearish market conditions. Snowfall protocol (SNW), a new protocol boasting as the first platform for cross-chain cryptographic asset transfer, has taken the crypto space by storm. In less than a few weeks, Snowfall Protocol (SNW) has gained the spotlight with its groundbreaking features, ousting the likes of Polygon (MATIC).
Polygon (MATIC)’s Value Running Down The Hill
The introduction of Polygon (MATIC) was a huge success in the lingering issue of blockchain trilemma. Polygon (MATIC) is an Ethereum-based layer-two network created to address the issue of scalability on its parent chain. The network is backed by the Proof of Stake consensus mechanism, paving the way for low-fee, high-speed transactions, flexibility, and high scalability.
Despite its importance to a world of growing DeFi, the Polygon (MATIC) token has not enjoyed considerable growth in the past few months. The token started modestly and thrived off the hype of its layer-two technology. In less than three years, MATIC has gained more than 20,000% and peaked at $2.87 in December 2021.
However, the hype was short lived, and the Polygon (MATIC) token is currently trading at $0.87, about a 70% drop from it’s all-time high price with a market cap of $7.5 billion. Looking at its fundamentals, MATIC seems like a pretty good long-term investment. Experts have predicted it should break the previous ATH price before 2024 and reach about $11 by 2030.
Snowfall Protocol Unveil First Asset Transfer Protocol for EVM-Compatible Chains
Despite the importance of Polygon (MATIC) in building a scalable DeFi ecosystem, its main caveat is the lack of inclusivity and limited interoperability. Snowfall Protocol (SNW) is a multi-chain bridge, the first cross-chain transfer protocol for fungible and non-fungible tokens.
Snowfall Protocol (SNW) is an ingenious addition to bridging and cross-chain transfer protocols as it allows seamless and hassle-free cryptographic asset transfer between EVM and non-EVM compatible chains. This paves the way for limitless interoperability, inclusivity, and easy communication between various blockchain networks.
Unlike many cross-chain bridges, Snowfall Protocol features a canonical bridge, where users can transfer fungible tokens to and from more than 200+ chains. This feature also allows for reverse swaps, making Snowfall a two-way bridge. Users can also bridge their non-fungible tokens (NFTs) via its wrapping and swapping mechanism.
Snowfall Protocol (SNW) has a vibrant ecosystem economy powered by an ERC-20 token, the SNW token. The token serves as the legal tender of the protocol. Holders can earn staking rewards and gain voting rights within the protocol. $SNW is currently trading at $0.182 in the presale stage. Due to the multiple use cases of the protocol, the Snowfall token has seen remarkable attention from crypto enthusiasts and investors.
Snowfall Protocol (SNW) is fast becoming the choice of investment for investors. While MATIC’s price and popularity continue to drop significantly, the SNW token shows impressive growth.
With its highly encrypted security and accessibility, the platform is now a vital hub for users to move their assets with zero risks. Meanwhile, as the bullish momentum gathers, the token can position you for more than 100x growth. Therefore, this is the earliest and best time to hop into the trend and buy SNW tokens.
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