How does Polygon improve scalability and reduce transaction fees in the world of digital currencies?

1 answers

• Amirali DaliriJun 12, 2024 · a year ago
  Polygon, also known as MATIC, is a layer 2 scaling solution that improves scalability and reduces transaction fees in the world of digital currencies. It achieves this by using a combination of sidechains, Plasma, and a decentralized network of validators. By offloading transactions to sidechains, Polygon is able to increase the capacity of the Ethereum network, allowing for more transactions to be processed simultaneously. This helps to alleviate congestion and reduce transaction fees. Additionally, by utilizing Plasma, Polygon is able to batch transactions together and settle them on the Ethereum mainnet periodically, further reducing transaction costs. Overall, Polygon's innovative approach to scalability and transaction fees is making waves in the digital currency space.
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