![]() To increase the number of transactions per second, they’ve come up with a number of alternative methods, but they have often come at the sacrifice of network decentralization and security. However, even if these new blockchains can handle up to 100,000 transactions per second, this is not sufficient for large-scale applications. These Blockchains will eventually become overburdened due to an increase in demand. So, the crypto community has come to recognize that there is likely to be a need to discover a different mechanism for scaling blockchains in the future. It’s at this point that the modular approach and Layer 2 blockchains like Polygon come in handy. Polygon, previously Matic, emerged as one of the most promising digital assets in 2021. Many Redditors believe that MATIC is a fantastic cryptocurrency that has the potential to develop much further in the future. There have also been several major partnerships with significant corporations, both in the cryptocurrency industry and outside of it. ![]() ![]() But why?īefore we delve deeper, we must first take a look into why Polygon (Matic) is making headlines.įor the most part, Ethereum proponents have their eyes on Polygon. And that’s not because some big celebrity is talking about it, but purely because of its revolutionary use case. What is a Layer 2 blockchain?Ī layer 2 framework or protocol is one that is developed on top of an existing blockchain system. One of these protocols’ key objectives is for major cryptocurrency networks to overcome the problem of transaction speed and scaling issues.
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