![]() ![]() ![]() Bridging the said crypto hence allows you to interact with a gamut of popular crypto apps that were once exclusive to the main Ethereum blockchain. The blockchain has its own cryptocurrency – MATIC. You can use it by “bridging” some of your crypto over to Polygon. One can glance at its increasing popularity through its recent partnerships with Meta and Nike. Polygon is one of the most popular layer 2 Ethereum solutions. Who wouldn’t want to get on the express train then? But the express train makes fewer stops and thus moves much faster than the regular train. The express train, i.e., Polygon, travels along the same route as the regular train, i.e., Ethereum. ![]() It uses a variety of technologies to achieve this.įor a more mundane analogy, try to picture it as an express train on a subway. Think of Polygon as a speedy parallel blockchain that runs alongside the main Ethereum blockchain and provides faster transactions and lower costs for users. It is a decentralized Ethereum scaling platform that has enabled developers to build scalable user-friendly dApps (decentralized apps) with low transaction fees without compromising security. ![]() Previously known as the Matic Network, Polygon is a layer 2 scaling solution (or “sidechain”) built on the Ethereum network. Moreover, while Ethereum does not consume outrageous amounts of energy anymore after The Merge, there is still the problem of scalability which layer 2 solutions address. We’re talking about layer 2 solutions built on Ethereum, such as Polygon. And we’re not talking about different blockchain networks, though there is no shortage of that either. Now, a lot of these solutions have become mainstream in their own right and are here to stay. While Ethereum has transitioned to the proof-of-stake consensus algorithm now (known as The Merge), many solutions popped up in the past few years to circumvent the various problems of the Ethereum network. It also had issues with scalability as well as required exorbitant gas fees to perform transactions on the network. The entire process is extremely resource and energy-consuming. In a proof-of-work system, miners need to solve complex algorithms to create new blocks on the blockchain as well as validate transactions and add them to the block. To recap: Ethereum used a proof-of-work consensus algorithm for the past few years since its inception. While the Ethereum blockchain is one of the most popular blockchains for many decentralized activities, including being the original blockchain for NFTs, it hasn’t always been very efficient to use. The only network it runs with its default configuration is the Ethereum Mainnet. There’s a reason many consider it one of the best ways to explore the decentralized web.īut MetaMask is, first and foremost, a wallet for the Ethereum blockchain. You can buy, store, sell, and swap tokens (fungible and non-fungible) as well as explore hundreds of blockchain-based apps. Available as a mobile app and a browser extension, it makes Web3 a lot more accessible. With MetaMask, the world of Web3 is within your grasp. MetaMask is one of the most popular crypto wallets right now. And if we’re on the subject of a crypto wallet, MetaMask is almost always a part of that conversation. A wallet is your gateway to blockchain apps. But one thing everyone knows for sure is that you’re going to need a wallet. ![]()
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