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- Layer 2 scaling solution
- commit chain to the main chain
- groups clusters of transactions and processes them all together beofre sending back to the Ethereum chain
- Takes a snapshot every now and than so it processes less data
- Series of blockchains that help scale Ethereum
- proof of stake
- equips devs with user friendly and flexible tools
- devs can create all kinds of scaling solutions:
- zk rollups
- optimistic rollups
- etc.
- Basically ethereum with super cheap gas fees
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It currently runs on a four layer system
- Ethereum Layer (optional layer)
- For staking
- Transaction approvals
- Interact with Ethereum and other chains
- Security Layer (optional layer)
- Alongside Ethereum to provide validator services
- Polygon Networks Layer
- Ecosystem of projects or blockchain networks developed on Polygon
- Every project or blockchain networks can have its own community within the ecosystem
- Execution Layer
- AKA Polygon’s Ethereum Virtual Machine (EVM)
- Main function to execute smart contracts on the actualy Polygon Blockchain
- This smoothens the user experience for developers and programmers using the Ethereum chain
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- Market Cap: 13 Billion
- 10 Billion tokens
- 6.8 billion in circulation
- Dev team has 16%
- Advisors have 4%
- Staking Rewards 12%
- Ecosystem is 23%
- Polygon Foundation 22%
- Inflationary
- Will implement EIP-1559 (Jan 18)
- This makes Polygon Deflationary
- Base transaction fees are burned
- Extra transaction fees users prioritize will be eventually be enough to incentivize staking validators
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