Are you interested in learning more about the Polygon platform? Continue reading this useful crypto article, to find out more!
Polygon is a revolutionary blockchain platform that strives to aid Ethereum applications in scaling. Through this, they are helping developers overcome the roadblocks of slow speed and expensive transaction fees when building dapps on Ethereum. Polygon was founded by three renowned crypto billionaires based out of India back in 2017, making them the first Indian crypto billionaires.
Polygon has revolutionized the Ethereum Blockchain, transforming it into a multichain system and an internet of blockchains. With over 7000 web 3 applications already built on Polygon’s platform, many developers are migrating to Polygon due to its low gas fees and fast transactions.
Polygon is totally compatible with EVM (Ethereum Virtual Machine), making it a no-brainer for projects such as Dolce & Gabbana and OpenSea NFT marketplace to switch over.
Polygon is sometimes called a “layer 2 aggregator,” as it allows blockchains to seamlessly connect with one another on Ethereum’s platform. Polygon offers various technological components that create a high-performance architecture while maintaining the highest levels of security. With this technology, transactions occur rapidly without any loss in safety or reliability.
By teaming up with Alchemy Pay, Polygon has revolutionized its DeFi ecosystem by enabling hosted applications to make payments on their DeFi apps through mainstream payment platforms like Visa and Mastercard, PayPal as well as local channels. This also simplifies the process of making payments for e-commerce sites such as Shopify via DeFi applications.
Polygon routinely has more daily active users than Ethereum, yet it is not a rival to the network. Rather, Polygon enhances the utility of Ethereum and provides users with even greater value from its platform.
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