Hey amics!
I was wondering why polygon is so popular in this days, and I decided to learn a little bit on it. So here is my conclusions.
The problem
The Ethereum is one most popular blockchain nowadays, but it has a lot of disadvantages:
- high fees, it's really expensive to do a transaction.
- 30 TPS (transactions per second), is really slow.
- a lot people connected in the world to this blockchain, so the blockchain is always collapsed.
- Network congestion also makes the Ethereum blockchain process slower, discouraging users from engaging with smart contracts on the blockchain.
- the block validation is done by proof of work, so the validation of the transactions is slow
The solution
Here is where polygon comes to the rescue. Polygon helps to the Ethereum blockchain to avoid its main problems.
Polygon is another blockchain with this advantages
- utrafast! upto 65000 TPS (transactions per second)
- low fees, it's really cheap, over paper, it's about a cent per transaction
- easy to scale, promising Ethereum scalability
- Provides security
- smart contracts are execute on the blockchain in a faster way.
- the block validation is done by proof of stake, so the validation of the transactions is super fast.
- Enable communication between Ethereum and other blockchains.
- Help existing blockchain networks to become compatible with Ethereum.
- Polygon complements to Ethereum.
- Polygon provides additional features to Ethereum relating to security, blockchain sovereignty, user and developer experience, scalability and modularity.
Polygon acts a sidechain over the Ethereum. Polygon process thousand of transactions at the same time, and the outcome is sent to the Ethereum blockchain, so in this way, the Ethereum blockchain receives less transactions to process and performs well, and the experience is better. So polygon does the hard way and Ethereum finally does its work with less effort and less cost. In resume, polygon is an Ethereum accelerator. Super cool!, doesn't it?
This is more or less the basic to know. If you understand this, you know the most important.
For the smartcontracts, Polygon introduced a blockchain bridge to its product lineup. The PoS bridge allows developers to create DApps on polygon, without having to sacrifice the benefits afforded by other platforms.
Polygon provides all the solutions for users, developers and companies to work with ETH. Polygon’s main goal is to create an Internet of Things (IoT) for the Ethereum blockchain. The project aims to scale Ethereum to billions of users without sacrificing decentralization or security.
Dapps! The ETH problem
Currently the Dapps are connected to the Ethereum blockchain, but the transactions are slows and the fees are really expensive... so?
Due to ETH network congestion, is a pain to execute the smartcontracts here...
The Solution: Dapps over Polygon!
Polygon works with the same EVM as Ethereum, so moving the Dapps from Ethereum to Polygon is really easy. The developers can move from one platform to another without any changes. In this way, the companies and the developers prefers to move the Dapps from the Ethereum to the Polygon blockchain where the smart contracts are executed fastly. So the user experience on the dapps are better and the results are the same, because at the end, polygon works with Ethereum... that it, polygon sends the transactions to the Ethereum blockchain, so all remains the same.
ETH2.0... The future of polygon
The future of polygon is brilliant, because Ethereum and Ethereum 2.0 always will need a sidechain like this to increase their performance, and ETH and ETH 2.0 are most important blockchains on the moment. So polygon is important too. At least up to now.
Now polygon token it's about 0.80$ more or less, but it was 2.60$ as high. I think, as many people use polygon, the value will increase.
Conclusions
Polygon is a fast and cheap blockchain over the Ethereum blockchain which helps to have a better user experience and a better performance. Polygon is growing a lot! so take it into account to the future! :)
