Hey, do you know what a polygon is? No, I’m not talking about those shapes you learned in geometry class. I’m talking about Polygon, the coolest blockchain platform that lets you use awesome decentralized apps (dApps) on Ethereum without spending a lot of money.
In this article, I’m going to tell you everything you need to know about Polygon and why it’s the next big thing in the crypto world. You’ll learn how it started, how it works, what it does, and what it can do for you. By the time you finish reading this article, you’ll be a Polygon fanboy (or fangirl) and want to try it out yourself.
Polygon is a framework that helps you build and scale your dApps on Ethereum, the most popular blockchain network in the world. Ethereum is great, but it has some problems like high fees, low speed and bad user experience. That’s where Polygon comes in.
Polygon creates multiple layers on top of Ethereum that offer different features and advantages. One of these layers is Polygon PoS (Proof-of-Stake), which is a sidechain that runs next to Ethereum mainnet. It uses a similar way of securing its network and validating transactions as Ethereum does. It also supports any smart contract or dApp that runs on Ethereum without any changes.
Another layer is Polygon zkEVM (Zero-Knowledge EVM), which is a ZK-rollup that uses magic math (called zero-knowledge proofs) to compress transactions and reduce fees. It also supports any smart contract or dApp that runs on Ethereum with minimal changes.
Polygon also has other solutions like Miden (a decentralized rollup), Avail (a data availability layer) and Hermes (a ZK-rollup for payments). These solutions are made for the different needs and preferences of developers and users.
But why should you care about Polygon? Well, it can make your life easier and better if you are into crypto and blockchain. Here are some reasons why:
• You can use dApps on Polygon without paying a lot of money for each transaction. Polygon reduces the gas fees on Ethereum by using sidechains and rollups that process transactions off-chain. This means you can enjoy dApps without worrying about your wallet balance.
• You can use dApps on Polygon without waiting a long time for each transaction to be confirmed. Polygon increases the throughput on Ethereum by using sidechains and rollups that process transactions faster than on-chain. This means you can have a smooth and seamless experience with dApps without getting frustrated by delays.
• You can use your favourite dApps on Polygon without any hassle. Polygon makes it easy for developers to migrate their dApps from Ethereum to Polygon without changing their code or losing their users. This means you can access your favourite dApps on Polygon without any trouble or interruption.
• You can find a dApp on Polygon that suits your interests and needs. Polygon has a large and growing ecosystem of dApps that cover various categories like gaming, NFTs, DeFi, social media and more. This means you can discover new and exciting dApps on Polygon that match your taste and preference.
• You can benefit from the innovation and development of Polygon. Polygon is constantly innovating and developing new solutions and features for its platform and users. For example, it recently launched a $200 million initiative with Alexis Ohanian’s Seven Seven Six, to back projects at the intersection of social media and Web3. It also partnered with Zeeve, a Web3 infrastructure provider, to simplify the deployment and management of app chains on Polygon supernets.
So, as you can see, Polygon is a blockchain platform that can make your crypto journey more enjoyable and rewarding. It can help you use dApps on Ethereum without the problems of high fees, low speed and bad user experience. It can also help you explore new possibilities and opportunities in the crypto world.
Polygon was founded in 2017 by four Indian brothers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic. They first launched it as Matic Network, which was a Plasma-based sidechain that aimed to improve the scalability and usability of Ethereum.
But they soon realized that Plasma had some drawbacks like data availability issues, complex exit mechanisms and lack of compatibility with other protocols. They also noticed that there was no one-size-fits-all solution for scaling Ethereum, as different apps had different requirements and trade-offs.
So they decided to rebrand Matic Network as Polygon in February 2021 and expand their vision to create a multi-chain system that supports various scaling solutions for Ethereum. They also opened their platform for other projects to build their custom chains or plug into existing ones.
Polygon’s goal is to create a multi-chain Ethereum ecosystem that can support any kind of dApp and any kind of scaling solution. Polygon wants to enable developers and users to choose the best solution for their needs and preferences, while still enjoying the benefits of Ethereum.
Polygon’s architecture consists of four layers:
• Ethereum layer: This is the base layer that connects Polygon to Ethereum and provides security and interoperability. Polygon uses Ethereum’s consensus mechanism and validators to secure its network and exchange data and tokens with Ethereum.
• Security layer: This is an optional layer that provides additional security to Polygon chains by running a set of validators who can verify any Polygon chain in case of an attack or failure. Polygon chains can choose to use this layer or not depending on their security needs.
• Polygon networks layer: This is the layer where Polygon chains live and operate. Polygon chains are sovereign and scalable blockchain networks that can support any kind of dApp and any kind of scaling solution. Polygon chains can also communicate with each other and with Ethereum through bridges.
• Execution layer: This is the layer where the logic and computation of dApps take place. Polygon chains can use different execution environments depending on their needs and preferences. For example, they can use EVM (Ethereum Virtual Machine), zkEVM (Zero-Knowledge EVM) or any other execution environment.
Polygon’s architecture allows it to be flexible, scalable, secure and compatible with Ethereum. Polygon can support any kind of dApp and any kind of scaling solution, while still being part of the Ethereum ecosystem.
Polygon is loved by developers and users because it offers many advantages and benefits for them. Here are some of them:
• Low fees: Polygon reduces the gas fees on Ethereum by using sidechains and rollups that process transactions off-chain. This means you can use dApps on Polygon without paying a lot of money for each transaction. For example, according to DappRadar, the average gas fee on Polygon is $0.0004, compared to $6.5 on Ethereum.
• High speed: Polygon increases the throughput on Ethereum by using sidechains and rollups that process transactions faster than on-chain. This means you can use dApps on Polygon without waiting a long time for each transaction to be confirmed. For example, according to DappRadar, the average confirmation time on Polygon is 2 seconds, compared to 13 minutes on Ethereum.
• Easy migration: Polygon makes it easy for developers to migrate their dApps from Ethereum to Polygon without changing their code or losing their users. This means you can use your favourite dApps on Polygon without any hassle or interruption. For example, according to DappRadar, more than 600 dApps have migrated from Ethereum to Polygon so far.
• Rich ecosystem: Polygon has a large and growing ecosystem of dApps that cover various categories like gaming, NFTs, DeFi, social media and more. This means you can find a dApp on Polygon that suits your interests and needs. For example, according to DappRadar, there are more than 1,000 dApps on Polygon with over 7 million users and over $10 billion in volume.
• Innovation: Polygon is constantly innovating and developing new solutions and features for its platform and users. For example, it recently launched a $200 million initiative with Alexis Ohanian’s Seven Seven Six, to back projects at the intersection of social media and Web3. It also partnered with Zeeve, a Web3 infrastructure provider, to simplify the deployment and management of app chains on Polygon supernets.
So, as you can see, Polygon is loved by developers and users because it can make their crypto journey more enjoyable and rewarding. It can help them use dApps on Ethereum without the problems of high fees, low speed and bad user experience. It can also help them explore new possibilities and opportunities in the crypto world.
Polygon has a lot of cool dApps that you can use for fun, profit or both. Some of them are:
• Sushi: Sushi is a decentralized exchange and yields farming platform that lets you swap tokens, provide liquidity and earn rewards. Sushi is one of the most popular dApps on Ethereum, but it also runs on Polygon with lower fees and faster transactions. You can use Sushi to trade any token on Polygon or bridge your assets from Ethereum to Polygon and vice versa.
• Aavegotchi: Aavegotchi is a game where you collect and trade NFTs that are backed by interest-bearing tokens. Aavegotchi combines the concepts of DeFi and NFTs to create a unique gaming experience. You can buy, sell and breed Aavegotchis, which are cute pixelated ghosts that have different traits and rarity. You can also stake your Aavegotchis in the Aave protocol to earn interest and participate in various mini-games and events.
• Arc8: Arc8 is a social gaming platform where you can play and create games with your friends. Arc8 uses blockchain technology to enable user-generated content, peer-to-peer transactions and community governance. You can play games like chess, poker, trivia and more on Arc8, or create your own games using the easy-to-use editor. You can also earn tokens by playing games or creating content, and use them to buy items or vote on platform decisions.
• Decentraland: Decentraland is a virtual world where you can create, explore and trade digital assets. Decentraland uses blockchain technology to ensure the ownership and scarcity of land, items and avatars. You can build your own scenes and experiences on Decentraland, or visit other people’s creations. You can also buy, sell and trade land, items and avatars on Decentraland’s marketplace.
You can find more dApps on Polygon’s ecosystem page or on DappRadar, which ranks dApps by various metrics like users, volume and transactions.
Polygon has many advantages as a blockchain platform, but it also has some disadvantages that you should be aware of. Here are some of them:
Advantages:
• Scalability: Polygon can handle thousands of transactions per second, which is much more than Ethereum can do. This makes Polygon suitable for high-demand applications that require fast and cheap transactions.
• Security: Polygon leverages the security of Ethereum by using its consensus mechanism and validators. This means that Polygon inherits the trust and reliability of Ethereum, which is the most secure blockchain network in the world.
• Compatibility: Polygon is fully compatible with Ethereum, which means that any smart contract or dApp that runs on Ethereum can also run on Polygon without any changes. This makes Polygon easy to use and integrate for developers and users who are already familiar with Ethereum.
• Flexibility: Polygon allows developers to choose from different scaling solutions and customize their own chains according to their needs and preferences. This gives developers more freedom and control over their applications and networks.
Disadvantages:
• Centralization: Polygon sacrifices some degree of decentralization in favour of its speed and efficiency. This is because Polygon has only a few validator nodes that secure its network, compared to thousands of nodes that secure Ethereum. This means that Polygon is more vulnerable to attacks or failures than Ethereum.
• Dependency: Polygon depends on Ethereum for its security and interoperability, which means that it is affected by the problems of Ethereum as well. For example, if Ethereum suffers from congestion or high fees, Polygon will also face the same issues when interacting with Ethereum.
• Competition: Polygon faces competition from other scaling solutions and blockchain platforms that offer similar or better features and services. For example, Cosmos, Polkadot, Avalanche and Solana are some of the projects that compete with Polygon in terms of scalability, interoperability and innovation.
If you are interested in joining the Polygon revolution and using its platform and dApps, here are some steps you can follow:
• Get some MATIC tokens: MATIC is the native token of Polygon that is used to govern and secure the network and pay transaction fees. You can buy MATIC tokens from various exchanges like Binance, Coinbase, Kraken, etc. You can also swap other tokens for MATIC using platforms like Sushi, Uniswap, etc.
• Get a wallet: You need a wallet to store your MATIC tokens and interact with Polygon dApps. You can use any wallet that supports ERC-20 tokens like MetaMask, Trust Wallet, Coinbase Wallet, etc. You can also use wallets that are specifically designed for Polygon like Zeeve Wallet, Zapper, etc.
•
• Connect to Polygon network: You need to connect your wallet to the Polygon network to use its dApps. You can do this by selecting the Polygon network from the network list on your wallet or by adding it manually. You can find the network details here.
• Bridge your assets: You need to bridge your assets from Ethereum to Polygon or vice versa to use them on different networks. You can do this by using bridges like Polygon Bridge, Hop, xPollinate, etc. You can also use bridges that are integrated with dApps like Sushi, Aave, etc.
• Explore dApps: You can explore and use various dApps on Polygon that cover different categories like gaming, NFTs, DeFi, social media and more. You can find dApps on Polygon’s ecosystem page or on DappRadar, which ranks dApps by various metrics like users, volume and transactions.
That’s it! You are now ready to join the Polygon revolution and enjoy its platform and dApps. Have fun and be safe!
Polygon is a blockchain platform that rocks by solving the problems of Ethereum and enabling mass adoption of dApps. It offers low fees, high speed, easy migration, a rich ecosystem and innovation for its users and developers. It also has a vision of creating a multi-chain Ethereum ecosystem that supports various scaling solutions and interoperability. Polygon is not just a geometric figure, it’s a game-changer.
If you want to learn more about Polygon or try it out yourself, you can visit their website (https://polygon.technology/), follow them on Twitter (@0xPolygon), join their Discord (https://discord.gg/0xpolygon) or check out their dApps. You won’t regret it. Trust me, I’m an expert. 😉
