Polygon’s community is rising because it affords extra options to ETH builders

Polygon’s network is growing as it provides Ethereum developers with more solutions to Ethereum’s problems while acting as the protocol and framework for connecting Ethereum-compatible blockchain networks.

MATIC has rebounded since the crash in early December and corrected 35% as it neared its highest closing price in seven months. It came after news that venture capital firms like Sequoia Capital India and Steadview Capital are planning to put the $ 50 million to $ 150 million in MATIC. Polygon is still aiming to solve some of Ethereum’s problems including poor UX, low throughput, no sovereignty. Polygon is one of the sidechain solutions that makes Ethereum more efficient and that includes xdai and Ronin.

Footprint analysis gas used on BCS and Ethereum

Polygon’s network is growing as it is a protocol and framework for building and connecting ETH-compatible blockchain networks. When Matic’s scope of application was expanded from the Layer 2 scaling solution for blockchains to the network of networks, the name was officially changed to Polygon. Polygon is a protocol and framework for building and connecting ETH-compatible blockchains and aims to transform Etheruem into a multi-chain ecosystem that has secure layer 2 and independent chains. Polygon’s design offers a number of advantages that have made it one of the most attractive ETH scaling platforms available.

According to Footprint Analytics, the TVL at Polygon is now over $ 5.1 billion while the token trading volume is $ 4.2 billion. Polygon offers scalability as it specializes in Wasm execution environments, bespoke blockchains, and scalable consensus algorithms that resulted in faster transaction speeds and lower gas charges. Due to the established tech stacks, languages, tools and standards, it is ETH-compatible, but also compatible with other blockchain networks.

Footprint analysisFootprint Analytics Polygon Token Price

The developers can use Polygon to set up a pre-set blockcahin network with specific properties for their needs and there is also a growing collection of modules for developing the custom networks that allow for expandability, customization and upgradeability for faster market entry. Polygon also processes out-of-chain transactions before they are confirmed on Ethereum and uses a technology called plasma. Polygon is supposed to be a complete framework for the development of blockchains and has built-in support for arbitrary message transfer, which makes it possible to connect to external systems. Polygon has zero gas transactions and instant transaction finality and does not require any protocol knowledge, permits, and deposits. Its design makes it easy to create custom solutions.

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