So, how does Polygon make this cheaper? To cut gas costs, scaling solutions like Polygon process transactions on side chains. Polygon has the potential to handle up to 65,000 transactions per second, whereas Ethereum can process only up to roughly 17 transactions per second.
blockchain bridge, zk rollups and optimistic rollups. Matic began with plasma sidechains, which are lighter and more secure sidechains.is a separate blockchain that runs alongside the primary blockchain. In this case, Ethereum is the “primary” or “parent” blockchain. Plasma chains link up to and communicate with the main blockchain to allow assets to transfer between them securely.to its product lineup.
Optimistic rollups use a different type of proof system called fraud proofs. Once a fraudulent transaction is discovered, a fraud-proof protocol self-executes and determines the correct transaction based on the data available on the main blockchain. To wit, Polygon improves Ethereum and, thus, more people will use the Ethereum blockchain. With more users locking their capital in the Ethereum blockchain freely, its value will rise, despite the potential for stealing total value locked away from Ethereum. At first glance, layer-2 scaling solutions may appear to be complex. In simple terms, layer 1 describes the underlying base blockchain architecture.
Layer 2s like the Polygon network will further improve the experience Eth2 will have to offer. Any Ethereum upgrade can be made even faster with layer 2. In this manner, Polygon ensures that the end-user receives the best experience. There's no doubt that Polygon has some strong competitors, and all the Ethereum layer-2 projects have the potential to positively impact the blockchain environment. But, since Polygon has been investing heavily in different types of zk-proofs, this layer-2 solution has shown great promise as a powerful solution for Ethereum scalability. What makes Polygon stand out from its layer 2 competitors? Polygon is the only network that allows its token, MATIC, to be staked on the Polygon blockchain.
In May 2021, the Polygon network announced the launch of the Polygon SDK, which makes the process of building a multichain network much easier for developers. With the Polygon SDK, developers can create standalone chains that are fully responsible for their own security. These standalone sidechains will have a dedicated PoS bridge network connecting them to Ethereum.
$MATIC is a great project. I try to regularly allocate usdt to buy this project
0xMert_ 🤣
Great news!!
Now that you can write MATIC transactions on the ICP you can now have MATIC transactions at web-speed. Internet Computer making other chains great again! 👍
Polygon is a stack of protocols designed to fix Ethereum’s scalability issues. The Polygon network addresses the network’s challenges by handling transactions on a separate Ethereum-compatible blockchain.
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I do hope all these potential will be realized as this could convince people that crypto is here to stay. Even KaspaCurrency has the potential for 100 blocks per second. The future of crypto is looking great. $kas can either be mined, or bought on exchanges like mexc or coinex
We have bigger news here mate. MultiversX listed on coinbase now. Wake up, lol.
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