US-based billionaire Mark Cuban, who is also an investor, has made an investment in an Indian layer 2 Ethereum scaling solution named ‘Polygon’.
Polygon has now become a part of Mark Cuban’s company portfolio. Cuban, whose net worth is around $4.4 billion, has investments across 100 companies and is one of the prominent backers of ether and dogecoin.
Polygon was founded in 2017 by three engineers Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun. Mihailo Bjelic was also added later added as a co-founder. Polygon is the first easy-to-use and well structures platform for Ethereum scaling and infrastructure development. The company aims to improve the convenience and usability of the current decentralized ecosystem.
In recent times the demand for layer two scaling solution is attracting capital inflows, which in turn has been accelerating the rise of Matic tokens, which is the native cryptocurrency of Polygon. With a market capitalization of nearly $11 billion, Matic is among the top 15 cryptocurrencies in the world. Made-in-India crypto token Matic has surged more than 8,000% over the past year, while it also remained largely unaffected by the recent crash in the crypto market.