Polygon FAQs Series
In this blog post, we’ve covered some frequently asked questions by you about Polygon and detailed the answers in the respective sections. In each FAQs series, we will be covering some new questions from the community. We always love to be a community first, inclusive, benevolent, and listen to our community’s feedback.
Here is the list of questions covered in this FAQ series,
What inspired you to launch the Polygon project? After the rebranding and the product evolution, what are Polygon’s main competitive advantages now?
- When the idea of the Matic Network was conceived in 2017, the primary thinking around Ethereum scaling was using Plasma technology, and we designed our solution around the hybrid Plasma — POS concept. However, as time progressed we realized that the future of Ethereum scaling is going to be multichain versus a one-size-fits-all type of solution. This is especially true since every project has different needs and technical requirements.
- So we set out to build an aggregator of Ethereum Scaling Solutions where we could provide all the different options for scaling, thereby providing the maximum flexibility in terms of Dapps/Protocol development.
- Thus, the name Polygon — which is an n-sided figure which can fit any shape or size.
- Polygon’s competitive advantage is that it’s an aggregator of all types of Ethereum scaling solutions. Our primary chain is our Hybrid Plasma+POS which is production-ready and is the most adopted chain in the industry with 500+ Dapps live and 6M+ daily txns. Polygon also has a big list of tooling partners, investors, and a large and active community of users, making it one of the largest blockchain ecosystems in the industry.
What achievements has Polygon obtained after launch? Could you share with us your perspectives on why Polygon can attract a large group of protocols and build up a prosperous ecosystem?
- In terms of achievements, Polygon today is the most adopted solution BY FAR, only second to the Ethereum mainchain. We have 500+ Dapps deployed on Polygon and countless others in development. All top infrastructure providers like Infura, Alchemy, Etherscan, etc. support Polygon. No other competitor Layer-1 or Layer-2 solution can boast similar growth, user, or ecosystem metrics.
- Since Polygon is an Ethereum compatible solution, its biggest strength is the Ethereum community itself. Polygon views itself as a natural extension of the Ethereum ecosystem and solves for scalability while inheriting the best features of Ethereum like EVM, ease of development, and interoperability.
- Any Ethereum developer is automatically a Polygon developer, and thus Polygon also has amongst the largest developer communities of any blockchain.
Although ETH 2.0 is delayed, it will solve all exist problems of ETH and become the best choice for dApps in the future, so do you think this is a threat for your project, and how could you overcome this barrier?
- Even when Eth 2.0 is fully deployed, if blockchain traffic scales 50x or 60x or 100x from the current traffic, the Ethereum network will still not be able to offer sufficient scalability. As blockchain technology goes mainstream, millions of users will be onboarded onto blockchains like Ethereum. When Eth 2.0 comes along and the number of applications and users increase, like on Android or iOS, there will be hundreds of millions of transactions happening daily.
- That’s why we believe that Ethereum at the end of the day will be the settlement layer and business activities will happen on a scalability layer like Polygon. Even if Eth 2.0 comes, it will be good for Layer 2s as it will spur further adoption of blockchain technology, thus bringing more Business activities, which will happen on Layer 2’s, whereas the settlement will happen on Ethereum. That’s our vision for Eth 2.0.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.