Polygon Founder Breaks Down Key Points for Web3 to Attain ‘Internet-Level’ Success

Polygon founder Sandeep Nailwal has outlined two key factors for Web3’s long-term success in comparison to the current internet. He believes that unlimited scalability and interoperability among blockchains are crucial for individuals to have the freedom to select from various decentralized profiles. Nailwal emphasizes the importance of user-centric design and interaction to enhance usability and the ability for blockchain networks to seamlessly interact with one another. He states that Ethereum + Rollups/Validium design is the only way to scale Web3 to the scale of the internet. Nailwal further explains that Polygon is focused on building a network of aggregated blockchains to achieve a “Planetary scale blockchain network.” On the other hand, DCinvestor, an influential voice in the crypto space, highlights the significance of Layer-2 solutions for blockchains to succeed in the coming years. He points out that bridging and interoperability solutions still need work, but not addressing them could create risks in the long term. The global blockchain interoperability market is expected to exceed $1.98 billion by 2030. Interoperability is also being seen as crucial in the banking sector, with major banks exploring cross-chain interoperability for tokenized asset purchases. The Australia and New Zealand Banking Group (ANZ) has recently announced its adoption of Chainlink’s cross-chain interoperability protocol (CCIP). The shift towards fostering interoperability with Bitcoin could enable it to directly engage in DeFi and offer liquidity and collateral options.