“Polygon: The decentralized layer 2 solution for the crypto and blockchain”
In the world of cryptocurrency and blockchain, lines between decentralized and centralized systems are blurred. One of the solutions that increases traction is Polygon, a 2nd -layer scaling solution, which aims to enable faster, cheaper and more inclusive transactions on the top of the various blockchain networks.
What is a polygon?
Polygon is an Ethereum-based 2-layer scaling solution that uses the side chain and rocket to ensure a scalable alternative to the Ethereum network. The solution was created by a development group led by Anatoly Yakovenko, a former Ethereum engineer who recognized the need for a more efficient and cost -effective way of transactions.
How does the polygon work?
The Polygon architecture is built on the top of the Ethereum blockchain, allowing it to deceive its enormous scalability capabilities. The solution uses a new approach called the side chain, which allows several users to create separate blockchains within a main blockchain. This allows you to process more efficient transactions and reduce the burden on the Ethereum network.
In addition, Polygon introduces an idle mechanism that encourages validators to adhere to their tokens and participate in the consensual process of the network. This helps to increase the safety of the solution and provides a continuous source of income for stakeholders.
Benefits of polygon
The polygon has many benefits that make an attractive solution for various cases of use:
* Faster Transaction Processing : Polygon’s lateral chain melt mechanism allows faster transaction processing times to make it suitable for applications where speed is crucial.
* Lower Fees
: Polygon’s cost structure is designed to be more efficient, reducing the general costs of transactions, and making developers and users more attractive.
* Increased scalability : Polygon allows developers to build scalable solutions that are related to the enormous scalability of Ethereum, allowing a wider range of use.
Use the polygon
Benefits of polygon make an attractive solution to various cases of use:
* Gaming : The polygon is used in multiple games applications, including decentralized games and virtual worlds.
* Social Media : The polygon is also used to build decentralized social media platforms, allowing users to share the content and interact with each other without relying on centralized gates.
* Defi (decentralized finances) : The polygon scalability capabilities make it an attractive solution to defi applications such as lending protocols, commercial platforms and much more.
Conclusion
Polygon is a cutting-edge solution that offers many benefits over traditional blockchain solutions. Its decentralized architecture, effective transaction processing and scalable properties offer an attractive option for various uses. As the Ethereum network further develops and improves, the scalability and efficiency of Polygon play an increasingly important role in the cryptocurrency and blockchain.
Note: This article is not a comprehensive analysis of its polygon or its underlying technology. For more information, please read the reputable sources such as CoinTelraphaph, Blockchain Times or other news portals created.