Why We Chose to Build on Polygon: Disrupting the Transaction Game for Poker Players
We’ve been getting asked the question; Why choose to be a crypto-native platform? The answer is simple — we think crypto represents the future of money. We want to build a platform that is future-proof and built for the future of how poker players will transact online. This isn’t the first time someone has had this idea. For example, Virtue Poker had the vision of bringing poker to the Ethereum blockchain several years ago. While we admire the vision, the project was faced with numerous challenges as blockchains in their early form simply were not built to handle the high-transaction throughput of an application like online poker. Today there are options designed to solve these challenges — enter Polygon.
Why Polygon, and What Is It?
Embracing a blockchain shouldn’t be a game of chance; it’s a meticulous strategy. Polygon rises to the top as a Layer 2 solution that addresses the throughput and latency issues of the Ethereum network. In essence, it’s a framework aiming to provide the scaling, security, and decentralization properties of Ethereum with a structure more adaptable to real-world applications.
Polygon operates as a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. It takes advantage of the robust security of Ethereum and enhances it with next-gen capabilities for scalability and usability. By aggregating scalable solutions on Ethereum, it supports a multi-chain Ethereum ecosystem. What this means for gamers and developers alike is a platform that’s not only high-functioning but also interoperable with increased capacity for transactions and dApps. The native MATIC token facilitates this seamless experience, adding an economic incentive mechanism that ensures the ecosystem’s longevity and stability. Polygon stands as a testament to our commitment to revolutionizing the poker sphere — it’s not merely an upgrade; it’s a leap into the future where transaction congestion and exorbitant fees no longer impede the gaming experience.
Benefits of Building on Polygon
A strategic alliance with Polygon isn’t just about aligning with the latest rave in the blockchain world; it’s a decision rooted in a remarkable set of benefits.
Scalability and Low Transaction Fees
Scalability issues have long plagued blockchain systems, but Polygon’s innovative designs offer a solution. By integrating technologies like Plasma and State channels, Polygon scales the Ethereum network, dramatically increasing its capacity. This means that while Ethereum may have high transaction costs during busy periods, Polygon’s Layer 2 can process significantly more transactions at a fraction of the cost.
The Smart Contract code sits on a public blockchain (Polygon) meaning anyone can audit the code for potential vulnerabilities or points of failure. The site itself doesn’t hold or manage funds — it simply acts as a software layer to facilitate gameplay and handle the accounting.
As a poker platform, our users demand low-latency transactions that can keep up with the fast-paced nature of the game. Polygon ensures just that, with transactions that are not just swift but also incredibly cost-effective.
Interoperability with Other Blockchains
Interoperability is the underlying ethos of Polygon. Its adaptability allows for seamless interaction with other blockchains and frameworks, a feature that’s a lifeblood for any ecosystem hoping to stay relevant and fluid in a market teeming with different players and technologies.
Security and Transparency
Trust is the currency of the digital realm, and Polygon offers transactions with an impenetrable and battle-tested security layer. With a large number of validators, the Polygon POS chain has stood the test of time and continues to thrive despite many new Layer 1 and Layer 2 chains entering the market in recent years.
Vibrant Ecosystem and Community Support
A blockchain is as strong as its community, and the Polygon ecosystem is a bustling metropolis of innovation. With over 37,000 dApps built on Polygon and nearly 12,000 active teams, many projects are choosing this rapidly growing ecosystem as their infrastructure of choice. With a robust support network and a nurturing climate for startups and projects, Polygon isn’t just a protocol; it’s a partner in growth and prosperity.
Specific Benefits for Poker Players
For those unfamiliar with blockchain, the benefits may seem abstract. However, let me explain how these advantages translate into tangible enhancements for our poker enthusiasts.
Fast and Secure Transactions for Deposits and Withdrawals
The impetus behind selecting Polygon was to create an environment where players experience the pinnacle of digital security and brisk transaction speed. With Polygon’s Layer 2, deposits and withdrawals occur almost instantaneously, minimizing any wait time and streamlining the gaming experience to its most vital components — skill and strategy.
Lower Fees Compared to Traditional Payment Methods
Transaction fees can often be a thorn in the side of enthusiasts eager to engage in their chosen arenas. By building on Polygon, we’ve slashed those fees, making every transaction on our platform a testament to efficiency and affordability.
Availability of Stablecoin
Since players transact purely in stablecoin on the Phenom Poker platform, we needed to choose an ecosystem with ample supply (such as USDT). Polygon currently has over $1.3B in stablecoin in the ecosystem with USDT accounting for 53%. This ensures the platform can support a robust number of games and can scale.
Enhanced Game Integrity with Smart Contract Protocols
What is a Smart Contract?
A smart contract is a self-executing program that is encoded onto the blockchain and automatically enforces terms and conditions between parties. It eliminates the need for intermediaries, ensuring transparency and trust in all transactions.
What does it mean for poker players?
Simply put — Phenom Poker is built on the core principle that the players do not need to ask permission to deposit or withdraw their funds. They can sit down and play the game of their choice without needing an intermediary to facilitate real-money transactions.
The Smart Contract code sits on a public blockchain (Polygon) meaning anyone can audit the code for potential vulnerabilities or points of failure. The site itself doesn’t hold or manage funds — it simply acts as a software layer to facilitate gameplay and handle the accounting.
The Phenom Token itself is a Smart Contract — enabling more transparency and opening up possibilities like facilitating automated Revenue Share disbursements to anyone holding the token.
In summary, we believe Phenom Poker is an opportunity to propel the industry we love forward using the best available technology and a new set of principles centered around Security, Fairness, and Transparency. We believe the Polygon blockchain is the ideal partner to help us accomplish that vision. If you haven’t already, be sure to join the waitlist to receive future updates and content.
Article originally published at https://www.phenompoker.com/post/why-we-chose-to-build-on-polygon
