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POLYGON (MATIC) & HOW POLYGON WORKS
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first well structured, easy to use platform for Ethereum scaling, and
infrastructure development, as quoted by the team.
formerly known as Matic network. And
they’re essentially a, you know, like layer
two solutions or infrastructure, as they say, for Ethereum.
we all know that a theorem is, as you know, more or less very unusable, very
expensive to use, and in its current state, probably won’t be the main chain
for people to use as the time being.
So today, I want to share with you some of the
research that I did on Polygon, and just explain what it is POLYGON (MATIC) CRYPTO
and how POLYGON works.
let’s get into it. So as far as I’m concerned, a polygon has two main things that they offer.
It’s layer two chains.
Number 2- Sidechains.
again, it’s really just like a scaling
mechanism above Ethereum.
first, going into layer two chains.
when we think of layer two scalings, we think of zk rollups, optimistic roll
ups, you know, etc. However, these guys offer all of those options in terms of
being able to build on top of Ethereum.
have the option to use optimistic roll ups, see Karolis of Lydiate William,
they call it as well as their own, you know, medic plasma that they already
essence, a polygon is a kind of being
considered a layer two aggregator, which is very one of a kind, because
most layer two solutions only offer, you know, one solution, but in this case
offers any team that wants to build on their platform on any of those different types of scaling mechanisms, depending on what you want to do with your protocol.
And, you know, you’re going to choose a
different one. And there are a couple of positives that come along with being
your chain on top of polygon.
Number 1 – You get the highest
level of security.
this case, that’s just because you’re using a theory, right at the end of the
day, when you’re building on top of Ethereum, you’re also taking from that,
essentially security that Ethereum has inherently built in with it, because
there are so many miners around the world money for it.
obviously, you know, it’s more or less distributed, whatever kind of defense
theory it has, you’re pretty much behind that same wall of defense.
security being on a layer two chain is
definitely gonna help your protocol safe.
Number 2 – What they’re good for
startups, right. Obviously, you don’t have to go out and build your own blockchain.
So a lot easier to just make a layer two on top of it, and just use already
what exists, and very simple to use. And for the most part, if you really tailor
that towards startups that want to use a blockchain
within their, you know, project or what have you, but may not be customizable,
because you’re going to be building on top of Ethereum, there are going
to be some.
And lastly, of course, for small communities,
right? I mean, that’s kind of the main thing of using layer 2 chain as well.
You know, if you don’t have enough validators to run nodes for your blockchain, or if it’s just not going
to be decentralized enough as if you
wanted it to be, in this case, you can use that layer two option.
moving on to side chains, side chains are literally no kind of operating on the
side of Ethereum.
parallel, so they’re not taking much of anything from Ethereum. Like they’re
not taking the security and not taking the validators that come along with
Ethereum, they have to provide that all for themselves. But at the same time,
they are still technically a part of that ecosystem. So they do get a few benefits there.
But the main benefit is that you’re
independent. So you can do whatever really you
want. Since your blockchain, as well, as you know, it’s very flexible, because
of that same reason. So again, you’re really just compromising on decentralization and security,
because you have to provide your own security, of course, in this case, you
know, getting a lot of people mining and making sure that hash power goes up.
well, of course, as the centralization,
you need to have people to act as a node on your blockchain as well, let’s be more decentralized, rather than just having you and your buddies, you
know, turn on their computers and start mining,
it’ll work for a little while until becomes very big.
people need more of a sense of security. A good example of a side chain is
actually what Matic already has,
which is the Matic POS chain.
it’s funny, they actually do something similar to what comodo does, in terms of recycling bitcoins hash rate, to
further, protect their blockchain,
except for that Matic ease is a theory for checkpoints.
there is a little bit more of security there as well, technically. But it’s
still obviously going to be the same type
of security as if you’re just you know, operating on avl Two.
So the main reason to use a side chain, one for enterprises, so for big businesses
that want to, you know, pretty much apply their own features to their own blockchain and maybe make it private so
that only they can use it internally.
Number two, no
products that don’t require the highest level of security. I don’t know, to me,
it seems kind of weird to say that. But I guess what they really mean by that
is, you know, people that are willing to have that trade-off, have a lower
level of security, for more independence and more flexibility of what they can
do with their blockchain.
And number three products with strong communities.
this case, maybe a project for example, that already exists, has a lot of
people involved in it, but they say maybe, Hey, why don’t we make a sidechain on top of this, and make it
so that you know, they can they can choose to take a little bit from the
Ethereum ecosystem, but at the same time, have a lot of people you know,
validating becoming miners, so it’s a lot more decent than just having, like we
said earlier, a couple of your buddies, throw up some miners in their computers
and act as if that’s a Good decentralized
was the main part in terms of what polygon functions
for. I know it was previously called Matic
network. And from what I understand, they’re just kind of porting
everything over to the polygon name, just in terms of like marketing and
that’s what we’re gonna get into Now, some of polygons, competition, I think
this is kind of decided to rebrand themselves and put themselves back in the
limelight. because number one, we have polka
dot, right, we have cosmos, and we have an avalanche. So those three are gonna
be the main competitors, I think, I think polka is probably the biggest one,
because you know, polka is para chains. And obviously, it’s kind of the
biggest, one of the biggest honestly, alternative blockchains to Ethereum right now. And people are pretty much
calling polygon, like the polka dot for Ethereum, which is kind of funny, they
say that we have a little graph of you
know, the comparisons of the polygon to
polka dots, cosmos, quorum, and all these different other things.
essentially, you know, my the way, whenever I look at these crypto charts, I’m always like,
Alright, they’re always gonna make the
charts to make it look like they have, these guys have nothing, when in all
reality, this is just selective, and they’re just putting the features that
they want to put that they know they have.
know the other projects don’t. Always take these types of comparisons with a
grain of salt. Because obviously, at the end of the day, I don’t have any polygon, by the way, but at the same
time, you know, I do, I am a fan of it. And I have a theory.
try to be as least biassed as possible. But you can clearly see like something
like, for example, develop developer
experience. I think they put that because obviously, the aim is using solidity.
And a lot of people, you know, a lot of developers who have been developing a
familiar with how solidity works? And honestly, it’s honestly not that
difficult. I mean, I was able to learn a little bit of it. I think anyone can.
And of course, Ethereum compatibility looks like Cosmos already has it, but polka dot does not.
yeah, and that’s gonna be the main thing it looks like with polka dot, how
polka dot doesn’t have any Ethereum compatibility, or developer experience.
Now, in terms of developer experience, I’m not so sure if the development on
coconut is going to be like an issue, because I feel like I saw somewhere on
try to tell her to developers as well. I know a lot of blockchains kind of say that. But at the same time, I guess I can
see why polygon puts that as the district.
just because a lot of people have already been developing on Ethereum. And
it’ll probably be no problem for them to just port, whatever they have on the
main chain over to L two, to be honest. And another thing I wanted to mention
as well, that I think polygon has, like
one of the biggest advantages of and it’s pretty obvious is that they’re using
the existing Ethereum ecosystem, right? That’s a huge benefit.
you know, right now polka, any of these other different projects, avalanche, what have you, they have to pretty
much convinced these developers and these people to move ever to move
everything we think that they’ve been doing from Ethereum, or even saving the
by Nance marching, all of those projects, all onto their blockchain onto polka
dot all into an avalanche, right? But why do that when you can easily go ahead and
just maybe change a little bit of a smart contract, and just have it operate on
the Alto, just like it was before? You know.
me, I think that’s kind of the main,
the big benefit that polygon has, is that they already they’re pretty much
already feeding this to an existing ecosystem
of, you know, define different projects, because, you know, a good amount of
them, I mean, a large amount of them exists on a theory.
I know a lot of them are moving to finance marching now. But that in and
of itself, still is not, you know, decentralized
about it, and saying that it’s centralized as hell, which, you know, I
know, I think all done in that sense. But again, I do I poke it, obviously, is
taking a lot of marketing, finance at this point, but once again, it is up and
running about some partnerships. So polygon
actually is quite a big ecosystem.
It turns out that they actually partnered with Atari.
they made their own token at some point, which essentially is just going to
increase the scalability of the token, as well as contribute to their NFT
ecosystem. I no idea Atari had like
entities as we know are pretty much the biggest thing in crypto right now.
no surprise there. They’re also teaming up with Golem as well graph and the graph specifically, because they’re going to go ahead and be
able to make it easier for them to go ahead and actually code and whatnot.
POLYGON (MATIC) APP
The other part I wanted to mention was the app that was just recently built on top of a polygon called huddling.
case, huddling is essentially like a social media kind of reminder that Tick Tock or maybe even, you know,
Instagram or whatnot, Instagram stories, but this is all built on top of Matic,
our polygon. And the crazy thing is that each post is literally considered
So if I
would go ahead and take a picture right now let’s say my food on this table,
I’m so sorry that you see that. I go ahead and take a picture. It’ll pretty
much go ahead, upload ipfs To generate the entity of course, and it’ll pretty
much just put it up like any other social media platform.
what this does is essentially give you full ownership. your actual creation you
know in the form of an entity. So to me, this is one of the creations I’ve seen
implementations of NFT’s it’s really cool to see that magic has it already
built out so that you know great products like these come up and exist.
just give you guys again my last
thoughts about polygon is –
Number 1, even if 2.0 does come out your magic will still
be relevant in my opinion. This is important because a lot of layers two
solutions that currently exist. I think most of them will be a little bit obsolete once is 2.0 comes Because you
know Obviously To be able to scale handle, you know, as many transactions
possible, and then a very cheap price? Well, you know, once that comes out, why
would you use a layer two right? Well a polygon is doing is essential, yeah,
they do have part of their infrastructure as the option to have
know there are differences between layer two and even using a very fast main
net. But additionally, you can still use polygon for side chains as well.
know, just in case, you don’t want to build your project on top of Ethereum, or
using a polygon, you’re still able to use a side chain, so you’re able to take
advantage of the very fast blazingly fast theory and ecosystem once you’ve to
point out. And at the same time, there still will still be a purpose for you to
actually use polygon, you know, so I
do like that, that polygon won’t be
completely obsolete. 1T2.0 comes out.
Number 2– you know, this is kind
of quick, because I know I mentioned it a little while ago, but the rebranding,
I think part of the reason why they rebranded is simply just because they
needed to compete, you know, obviously, polka dot Cosmos avalanche mentioned
before, they’re all in on the cosmos was, but I know polka dot and avalanche
are relatively new in the space.
And MATIC had
been around for a little bit as well. And they guess, you know, I’ll be honest
with you, they just didn’t, they don’t think they were like pushing as much as
these other projects were, or at least gaining a lot of notoriety. So once this
rebrand happened, I think that added a little bit to the marketing boost, and
you know, people kind of knowing about them now.
they do have a good, you know, project. And they already have, again, as we
just saw earlier, existing projects that work very well in them. So I do like
to see that they’re really focused heavy on getting the name out there, you
know, whether it be Matic or
polygon, I like that there. I think that approach to branding shows that they
care about marketing, and they’re willing to, you know, branch out and to reach
new different audiences, which is awesome.
then, of course, something else I wanted to bring up was GitHub.
you guys know, whenever I look into projects, I like to look at the GitHub
to see what the development looks like, you know, what, what are they
adding, if they’re not developing one
doing well. polygon obviously they’re
getting developing quite a bit. Their GitHub falls under the name
what I noticed is that you’ll see that like xe was able to, I guess you can
say clone a couple of repositories from different projects.
obviously, we already know that they’re working with the graph. So of course they have a subgraph repository in there.
actually have a repository called Cosmos
as well as a Polka Dot. Polka Dot
with substrate and the cost was was just so Mind you, these are competitors. So
what I think that they’re trying to do here is they’re trying to be sneaky
about it because obviously, we all know GitHub
I don’t want to say the word competitors but units roll working in this space
together to bring up credit by taking what they’re using substrate you know
cosmos because all what is open source
of course and then the topic that i think that’s what the main thing about
this space is.
that’s why I kind of attracted the petition thing because it’s true. I mean, I
think we’re all building towards the same. That’s just it is hopefully going to
come to someday. So I think it’s really cool that they were able to do that.
Just From there Nope. It hubs and it starts you I guess. I don’t know.
it fiddling with it. I know I think one of them didn’t have anything edited on.
I think polka substrate kind of did, but I thought it was really cool.
lastly, Of course, To end the article of my bias if you have been reading this
article for a little bit and by the way, if you have thanked you so much I can’t
believe people actually read this article.
quite clear that I have a big bias towards that theory I mean anything a theory
and based so that’s why I mean they get this I should have But this disclaimer
in the beginning, but for the most part, you know like I will always gravitate
towards things that are of the theory, part of the parsley.
about me like, I do really think that they have Good potential, seeing The
things that they already have built on and seeing some of the partnerships that
they have but I say that because You know, it’s me It’s really important that
you guys who are watching know that I have a bias.
the end of the day, it’s like I’m recommending people to go out and buy a certain by that sell this or sell
that. But I do.
realize that sometimes it may come off like that because I make an article about
certain things, but I didn’t clear about that. You know, I am a fan of polygon, mainly because it is built on top of Ethereum.
And because they have great products already, but at the same time that doesn’t
take away from Atlanta, whatever these different products being really good
alternatives to Ethereum.
may look like I’m talking a lot more about a theorem because I actually am
because It just so happens that I hold a lot more theory than maybe any
Evelyn. You know, that’s just how it is
the way the world works, and no matter what but I thought I’d just disclose
it with you guys, because I don’t know I don’t have the I want to be
transparent as much as possible but anyways With that being said, let me know
what do you guys think below if there’s anyone even left after that ramble? Do you
guys think polygon, here’s a good
know finance chain is taking a huge chunk out of Polkadot first as well. All
these different side chains are always done.
think with the right branding and When not, if polygon will bring back market share to Ethereum before e 2.0 comes
up because that’s what I’m interested in knowing. I mean To me, I think
epic. I’m looking at projects that build on top of it, then people moving over
to it and it’s easy enough to use for folders. I think so. I don’t know what
you got. All right, let me move on.
comments below. Thank you guys for coming to this real cryptocurrency news site.
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