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Polygon: Unchaining the Ethereum Blockchain

Team Cryptopia
18.05.22 08:38 AM Comment(s)

Polygon:Matic

Cryptopia Polygon
It is without a doubt that the Ethereum network has been one of the many breakthroughs of Blockchain Technology. Ethereum has revolutionized smart contracts and high-interest paying decentralized applications. Enabling many apps to run processes unlike never before. The Ethereum network is not all rainbows though as it comes with one big problem. 

Low Throughput. 

The Ethereum network can only handle 30 transactions per second. Which is very slow in comparison to other networks. It also means that transactions will cost more since every transaction is effectively bidding against each other. Due to the low through put developers will have limited options when it comes to developing projects.

This problem inspired developers Jaynti Kanani, Sandeep Nailwal and Amurag Arjun to develop a Blockchain that would resolve Ethereum’s biggest problem. They created Matic in 2016 which is now known as the Polygon network.

Polygon is a layer-two scaling platform that allows Ethereum based applications to leverage all the benefits of the Ethereum Network while solving the problem of Ethereum’s low throughput. The Polygon network has been so effective that most Big developers has moved from the Ethereum network into Polygon’s network. Polygon solves the problem by connecting Ethereum into several Blockchains. This allows developers to increase the usage of their DeFi tools and Applications. Making transactions cheaper and faster for users. All while utilizing the Ethereum networks’s security.

Polygon solves Ethereum’s low through-put but is that all it does? No. It does more than that. Much more. Polygon equips developers with easy to understand and adaptable tools. These tools enable developers to scale Ethereum and create multi-connected chain platforms. This allowed many developers to create blockchains that interconnect within Polygon. This means that eventually Polygon will have a throughput of one million transactions per second.

There has been many attempts to optimize the Ethereum network but no one came close as Polygon. Polygon removed the downsides of Ethereum and maximized on it’s power to create smart contracts and decentralized applications. A true testament to how amazing blockchain technology is.