Why did Kasta Choose to Build on Polygon?

Kasta has chosen Polygon to be the network in which we build our new era of decentralized open and borderless payments. We believe Polygon is the perfect platform for our vision.

Polygon combines Ethereum and sovereign blockchains into a full-fledged multi-chain system. It allows for the easy and uncomplicated building of blockchain networks. Furthermore, Polygon connects Ethereum-compatible blockchain networks and solves the scalability issues on the current Ethereum network.

The Polygon SDK, a modular framework containing components, introduces plenty of solutions to build multiple types of applications.

For example, the framework works well in creating “Optimistic Rollup Chains,” “ZK Rollup Chains,” or other chains.

Why does Kasta build on the Polygon chain?

Among the best scaling solutions

The term “Network Effect” refers to the attribute of a system, or in the case of Polygon, it describes a network with a fully diluted market cap of $24 billion — that sees its value increase as more people utilize the network.

With such incentives — attracting users at an exponential rate and being one of few Layer 2 solutions compatible with EVM (Ethereum Virtual Machine), it is unsurprising developers have flocked to Polygon, constantly deploying countless dApps to the platform.

Significantly lower fees

Ethereum has become one of the most in-demand blockchain networks for many reasons. There is, however, one aspect about this network impeding its rate of adoption, Ethereum’s exorbitant fees.

While they vary depending on traffic and other factors, it’s not uncommon to see Ethereum fees range from over $60 to 250 per transaction.

Layer 2 protocols like Polygon have gas expenses up to 1000 times cheaper than Ethereum. Even though Polygon had to hike its gas prices 30x to deter spammers — gas fees of just $0.02 among the top DeFi chains are still the lowest in the entire industry.

Faster Transaction throughput

When sending or receiving money, lag, and latency top the list of unpleasantries for users, especially for financial platforms like Kasta. To compete, Kasta needs to match, if not top, the transaction speeds offered by traditional offerings.

Polygon processes 65,000 transactions per second with a block confirmation time of under two seconds. Meanwhile, Ethereum can only handle an average of 30 transactions per second, and this fast throughput is crucial for people looking for a reliable way to transact.

Approach to decentralization

Another reason why Polygon is the best option for our project lies in its dual-strategy proof-of-stake and fraud prevention capabilities.

It achieves mainchain finality throughout this process due to many validators utilizing its native asset, MATIC. It involves community governed projects where large sums of money are invested into securing a transaction’s validity on the network. The requirement for block production requires 75% support from active participants before people can create any checkpoints on the mainnet.

In short, no one person or entity has complete control over what goes into the user’s blockchain wallet — these security protocols and network decentralization ensures user funds are always safe.

Polygon supports its partners at every stage of development

  • Analytics and Security audit: Dune Analytics supports Polygon projects with analytics dashboards. With the launch of a bounty program, Dune works closely with the community members and partners to better understand users’ data needs for a superior experience. In addition to this and stamp Polygon’s stance and commitment towards Security, discounts on audits are consistently made available for all Polygon projects through partnerships with top cybersecurity firms around the industry.
  • Technical and Infrastructure support: Polygon is a resource for developers to quickly build and scale their projects with special developer packages available on Tenderly, Akash Network, Gelato, Certora, and other platforms through PolyBuilder’s access to those partners’ tooling projects — Kasta can take advantage of the power of decentralization with storage solutions like these. Technical support is just one avenue to tap into — inhouse developers are also available for advice or troubleshooting.

We’re picturing an open, borderless world

Crypto is changing the way we interact with currencies while enabling possibilities for us to be our own bank and safeguard our savings.

Kasta is on a mission to pioneer and helps the world move towards mass crypto adoption and a crypto-based economy. A borderless cryptocurrency, open, without intermediaries or gatekeepers — this all makes sense with Polygon as the network for the $KASTA token. They envision an open community where people can collaborate globally and exchange value freely worldwide. This perfectly aligns with our philosophy, which makes this partnership even more exciting.

About Kasta

Kasta is a blockchain alternative to mainstream mobile payment services. Our platform makes P2P payments easy, simple, and accessible. As we transition into a crypto-based economy, Kasta provides the market convenience necessary for cross-border payments on a global scale. Through our platform, we aim for globalized cryptocurrency adoption and to improve the functionality of financial services.

For the latest Kasta news and developments as they arrive, visit our:

Website | Twitter | Medium | Telegram | Linkedin

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Kasta is redefining the current understanding of digital payments.

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Kasta

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Kasta is redefining the current understanding of digital payments.

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