Ethereum is not just a blockchain with a native token and a DLT. It is also host to tons of decentralized blockchain applications. One of the two most sought-after Ethereum projects is Polygon and Uniswap.

Recently Polygon, which is a scalability enhancement tool for Ethereum, has joined forces with DEX or decentralized exchange protocol Uniswap.

Throughout 2022, Polygon devs have spent their time forming significant business partnerships with major corporations. Some of the noteworthy enterprises working with Polygon are Starbucks, Mastercard, and Nubank, among others. There are also some other important partnerships that Polygon devs are in the process of negotiating.

The first factor to note about both layer-2 solutions, namely Polygon and Uniswap, is that both are said to gain more traction in 2023 on account of their utility. On account of the roll-up event, blockchain devs can show greater interest in working with Polygon.

Meanwhile, more crypto investors are flocking around decentralized exchanges such as Uniswap on account of the FUD around centralized counterparts.

All the decentralized applications had to suffer from a technical setback that forced them to choose between decentralization and security. On account of this issue, the dApps on the Ethereum blockchain had to sacrifice their security in comparison to the other blockchain networks.

On account of this lag, these dApps had to deal with the threat of hack that could drain them out of their millions of dollars’ worth of crypto reserves.

New Smart Contracts can Fix the Security Drawback 

It has been pointed out by blockchain developers that one of the best ways to deal with the security threat for the layer-2 solutions on Ethereum blockchains is smart contacts. Adding new smart contracts to these susceptible decentralized applications would secure them against the invasion of hackers and cyber-attacks.

This is where the Polygon partnership could be helpful for Uniswap. The addition of Polygon would also remove the need for increasing the fees on the DEX for every single swap.

The presence of Polygon would allow more decentralized applications to join and migrate on the Ethereum blockchain without compromising on their scalability or security. The new feature could be beneficial during the next Bull Run when trading volume rises.

---

Best Forex World is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (not all) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.

---