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Polygon - Matic Network

Acquire robust ethereum token development services including creation of tokens on different standards like ERC 20, ERC 721, ERC 777 and ERC 223, token transfer, digital wallet and listing on exchange<br>

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Polygon - Matic Network

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  1. Polygon Blockchainx

  2. Polygon Polygon, formerly known as MATIC, is a protocol that allows increasing the scalability of the Ethereum Blockchain and adding new use cases. Polygon works through a sidechain (side chain) that connects to the Ethereum network allowing further processing of the Blockchain. Traffic on Ethereum gets stuck and Polygon offers a cheaper secondary road than the main one. Polygon's low transaction fees (<$ 0.01) have grown in popularity exponentially in recent months.

  3. What is Polygon (MATIC)? Polygon is everything Ethereum claims to be with Ethereum 2.0. It is a project that fixes Ethereum's processing capacity issues. it uses Proof-of-Stake (Pos) as a consensus mechanism. Polygon offers a much more intuitive architecture for developers, making it a more attractive network for inexperienced users. Polygon does not seek to change the original layer of the Ethereum blockchain development Polygon can be compared to other similar blockchains, such as Avalanche (AVAX) and Polkadot (DOT).

  4. How does it work? Polygon is a multilevel platform that achieves high scalability thanks to side chains. Sidechains are alternate blockchains to the main blockchain: Ethereum. Sidechains allow you to improve your performance. In this way, being linked to the Ethereum blockchain development, they support decentralized applications of the network created by Vitalik Buterin. Polygon's main chain is a blockchain that uses Proof of Stake (PoS) as a consensus method. A system based on the economic participation of users who have protocol tokens.

  5. How does polygon work? The validator nodes are randomly selected among the users who have MATIC and the users with the most reservations have a better chance of being chosen to validate the transactions and vote on the network updates. Polygon uses the Plasma framework. A framework proposed by Vitalik Buterin that enables the easy execution of autonomous and scalable smart contracts. A technology similar to the Bitcoin Lighting Network, which also creates bi-directional bridges with Ethereum, allowing communication between networks. Furthermore, Polygon can not only connect with the Ethereum network, but it can connect with any other blockchain network, creating a connection structure.

  6. Polygon use cases Polygon is used by a multitude of blockchain companies and users for the development of operations. Due to the lower cost of transactions, the Polygon network is being widely used in the NFT markets. Without going any further, in Opensea, the NFTs marketplace par excellence, it is possible from this summer to create, buy and sell NFTs on the Polygon network. Polygon launched Polygon Studios, a division of the company to try to move games from Web 2.0 to Web 3.0. Thanks to this division, developers who want to create games on Polygon can receive marketing assistance, investments and help from other members of the community. Polygon is already being widely used in the world of blockchain gaming. Games and metaverses, such as Aavegotchi, Megacryptopolis, Decentraland or Sandbox, are already part of the platform.

  7. Use Cases of polygon Polygon has a total locked value (TVL) in Decentralized Finance of more than $ 5 billion. Polygon is getting closer and closer to its two main competitors: Ethereum and Binance Smart Chain (BSC). Unlike these two blockchains, which in recent months have maintained a stable evolution. Two of the largest DeFi platforms, Aave and Compound, also adopted Polygon this year. Stani Kulechov, founder of Aave, pointed out that the problems Ethereum is going through should not impede the growth of DeFi. Polygon's potential has not gone unnoticed by traditional consultancies. On September 14, Ernest & Young (EY) announced that it would work with Polygon in the creation of private industrial chains for companies. The consultancy indicated that it is integrating all its blockchain services with Polygon, with the aim of mitigating the high fees that its business clients have to pay for using Ethereum.

  8. Ethereum token development Company - Blockchainx Acquire robust ethereum token development services including creation of tokens on different standards like ERC 20, ERC 721, ERC 777 and ERC 223, token transfer, digital wallet and listing on exchange

  9. Contact us Facebook https://www.facebook.com/blockchainxtech/ Linkedin https://www.linkedin.com/company/blockchainx/ Skype id skype:yokesh.sankar?chat Telegram https://telegram.me/yokeshsankar Email contact@blockchainx.tech

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