Scalability is one of the majors of the Ethereum blockchain which means you can only perform very limited transactions by using this type of blockchain. So, are you looking to perform extra efficient and cost-effective transactions using the Ethereum blockchain? If so, Polygon (Matic) network comes into the concept. Well, Polygon and Matic both are the same networks of the Ethereum Layer-2 solution and they build to resolve the scalability issues in the Ethereum blockchain as well as enhance the overall speed and fewer transaction fees. Well today, in this article we will discuss a detailed discussion of Polygon Crypto Layer-2 Scaling (Matic Network) so, without wasting more time let's get started!
Polygon Crypto Layer-2 Scaling (Matic Network) | Explained
Polygon network was built on the Layer-2 Ethereum blockchain which came to resolve the scaling issue in the Ethereum blockchain and was formerly known as the Matic network. As history addressed the various issues which were faced by the oldest version of the Ethereum blockchain including performance and scalability issues. The Matic network was introduced to address all these issues that were really faced by the oldest version of the Ethereum blockchain ecosystem. It helps the decentralized application (dApps) to perform extraordinarily efficient and cost-effective tasks.
Polygon network processes each transaction off-chain and after the successful completion of the transaction process. It does further settlement on the main Ethereum network which means it prevents the main Ethereum network from congestion that really affects the overall speed of the entire network. This is what enhanced the transaction speed. Polygon resolved the scalability issues by using the 6 main scaling elements given below:
- ZK Rollups
- Optimistic Rollups
- Enterprise Chains
- Polygon Plasma
- Polygon POS
- Standalone Side Chains
The following reasons that make the Polygon so special among users are Scalability Interoperability, Security, Cost Savings, Rapid Confirmation, and Flexibility. Where it is beneficial among the user also here it has several disadvantages such as Less Adoption, Limited Decentralization, Complexity, Compatibility Issues, and Lack of Integration.
Now the question arises How Do You Use the Polygon Network so, here I previously wrote a detailed article on the Polygon Layer-2 Solution (Matic Network). I discussed the detailed discussion on how it actually works, its use cases, and at the end advantages/disadvantages associated with this specific network.
In the final thoughts, the Polygon crypto layer-2 solution is previously known as the Matic network. Polygon and Matic both are the same network solution associated with the Layer-2 Ethereum blockchain ecosystem. In 2021 Matic was rebranded and renamed Polygon Network. Whereas the functionality of both networks is the same, both networks are used to resolve scalability issues and perform extra efficient transactions at a very low cost.