Polygon (MATIC) to be added to TrustWallet & MyEtherWallet

Karthik Subramanian

Polygon (MATIC), one of the fastest-growing Layer 2 protocols that have been making waves for its reduced gas fees, would be added to TrusWallet and the voting for the same is going on in the community at this time.

polygon

This news comes on the same day that MyEtherWallet announces the addition of Polygon to its platform as well. MEW is one of the pioneers of the crypto wallet industry as it has been supporting the Ethereum community with a free and open-source wallet for many years now. It recently released version 6 of the platform and this upgrade includes the support for Polygon.

The platform says that it would help the user community make use of the low gas fees that they can get from Polygon and they would also be able to perform transactions very quickly which would not only be useful for existing users but also attractive for new ones as well.

Closely following this, we have seen that TrustWallet also putting to vote in its community on whether Polygon can be added to the wallet. Only those who hold the governance tokens of the wallet, the TWT, would be able to participate in the voting and it is generally expected that this proposal would go through and Polygon would be added to TrustWallet pretty shortly.

This is a further boost for Polygon which has been growing and expanding with more users and developers building on it. The network now supports over 500 dapps and the transaction volumes have also been growing on the network with the average daily volume exceeding those on ethereum on certain days and with the gas fees being less than that on the ethereum network by 500 times.

Though the gas fees have been increasing recently due to the increase in the price of the MATIC token and also due to increased usage, it is still way below what is charged on the ethereum network. But with increased traffic comes increasing issues as well as it is likely to lead to congestion and increased fees. Customer support is also likely to come under pressure and this is a department that has come under increasing scrutiny at Polygon in recent times as there have been many complaints that they have been slow and unresponsive.

Critics continue to believe that this could be a temporary fad that could vanish once ethereum 2.0 is introduced and stable and this would be watched very closely next year.

 

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