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Gas fees ramp up during times of high network congestion, and Ethereum gas fees can rise quickly to above $50 to $80. This is a massive issue. Having to pay more than $50 at one time for each transaction places Ethereum squarely out of reach for most users. Network congestion also makes the Ethereum blockchain process slower, discouraging users from engaging with smart contracts on the blockchain.
How Polygon works The Ethereum blockchain can perform a limited number of transactions per second. The throughput rate sits at roughly 14 transactions per second for the base layer. Each transaction comes with transaction costs called gas fees on Ethereum.
After the project expanded, Polygon opted to keep the ticker MATIC for its native token. Thus, the Matic network became Polygon. This name change and subsequent rebranding may generate some confusion, but they are the same project. Polygon is the new umbrella for multiple projects including the Matic network. The Polygon (MATIC) token, however, is Polygon’s native cryptocurrency.
Plasma chains are a bit like side chains, except they offer greater security in exchange for convenience. Unlike sidechains, Plasma chains publish their “root” on Ethereum layer 1 and function based on the assumption that its consensus mechanism can fail. This design affords greater security but while rendering these chains unable to run complex operations.
What’s the difference between Polygon and Matic network? Before the project changed its name in February 2021, Polygon was known as Matic network. The Matic network had one primary offering: plasma sidechains.
Are MATIC and Polygon the same thing?
At first, funds from friends and family in Mumbai helped support the venture. But, while Polygon has its roots in India, the platform continues to attract investors from all around the globe. Polygon raised over $450,000 in two rounds of startup funding in 2019. The venture has roughly $450 million in funding from various investors. Balaji Srinivasa, an angel investor, and Mark Cuban, the billionaire, are among Polygon’s growing list of backers.
The three founders of Polygon Cofounder Jaynti Kanani is the current CEO of Polygon. He developed the project alongside Sandeep Nailwal, cofounder and chief operating officer, and Anurag Arjun, cofounder and chief product officer. The trio created Polygon in 2017. Back then, it was called Matic Network.
Who is behind Polygon? Polygon has firmly established itself as the most promising Ethereum scalability project due to its highly capable development team. The expertise behind the team remains the driving force behind Polygon’s growth. Those who created the Matic network can be credited with foreseeing the needs of today’s crypto industry. The next section examines who is behind one of the industry’s fastest-growing projects.
Polygon has firmly established itself as the most promising Ethereum scalability project due to its highly capable development team. The expertise behind the team remains the driving force behind Polygon’s growth.
This guide delves into everything there is to know about the Polygon Matic network, how Polygon works and how this innovative solution is making Ethereum easier to use.
Using Polygon, users can interact with any decentralized application (DApp) without ever having to worry about network congestion.
In other words, Polygon, formerly known as Matic network, provides an easy framework for new and existing blockchain projects to build on Ethereum without scalability issues.
Polygon then returns transactions to the main Ethereum blockchain post-processing. This approach lowers the network load on Ethereum. In doing so, Polygon can speed up transactions and lower transaction costs to less than a cent.
Polygon is a stack of protocols designed to fix Ethereum’s scalability issues. The Polygon network addresses the network’s challenges by handling transactions on a separate Ethereum-compatible blockchain.
Polygon blockchain explained: A beginner’s guide to MATIC
tell me your best crypto moment
Tell me your favorite airdrop story
which can be the next airdrop and the easiest one
lens walo airdroop de do
aur kya chal rha hai
looks a fine day
I just voted "YAE" on "[ARFC] ACI Service Provider 6-month Proposal" https://snapshot.org/#/aave.eth/proposal/0xbff353c13861818ed952874dd76a04e4b97570edc0513bfc2eed64cd5277b404 #snapshotlabs
I just voted on "[TEMP CHECK] Incentivized Delegate Campaign (3-month)" https://snapshot.org/#/aave.eth/proposal/0xf6da417983653f7e7f5560a8e16ad77d5e25533bba9157abfd222347b40d09d0 #snapshotlabs
I just voted "YEA" on "[TEMP CHECK] - Launch Aave V3 on Starknet" https://snapshot.org/#/aave.eth/proposal/0xde90f4d29c4c5dd55cba023b29bdde8c49e37f70c3398668a78e2f173a61b4e6 #snapshotlabs
I just voted "Option 3" on "[ARC] E-Mode Parameter Changes for V3 Avalanche, Optimism, Polygon, and Arbitrum " https://snapshot.org/#/aave.eth/proposal/0x84deca82139320b2570f04211b249e37b8a7602b4a0ed70e6fa772c9f6e94550 #snapshotlabs
I just voted "YAE" on " [TEMP CHECK] - GHO Facilitator Onboarding Process and Application" https://snapshot.org/#/aave.eth/proposal/0x890cfaa5bb3f0d9c8b220e45e31efde8863538fcfa3232bd982fc9320b86f38f #snapshotlabs
@ether_fi is a Liquid Staking protocol that may airdrop to ETH stakers on their protocol
alk about the biggest airdrops at the moment ($ARB, $ZKS, $OP)
arb governance looks interesting. share your views
🌟 Just in! @lenster.lens has officially become the most starred GitHub repo in the #Web3 open source space! 🚀 Leading the way for decentralized innovation, it's a game-changer for the future of the internet. https://github.com/topics/web3 #OpenSource #Decentralization #Crypto #GitHub
🎉🔥 Lenster's Unstoppable 30-Day Growth Spree! 🔥🎉 Hey there, #LensterFam! We're over the moon to share the jaw-dropping achievements our fantastic community has reached in just the past 30 days! 🚀 🌐 **4.5 million pageviews** - Thanks to your passion and commitment, Lenster has become a go-to destination for so many people! Let's keep the ball rolling! 💪 👥 Our active user base has soared with **20k daily active users**, **71k weekly active users**, and **210k monthly active users** - We couldn't be more grateful for each one of you who make this community so lively and engaging! 🥳 📝 You've been on fire, producing **445k new posts**, **294k comments**, and supporting one another with **1.40m likes**! Your creativity and positivity are nothing short of incredible! 🌟 🪞 And that's not all! We have **880k mirrors** reflecting our diverse content and the best of Lenster, **700k collects** to save and share your favorite content, and a whopping **1.7m profile follows**, highlighting our strong connections! 🤩 Thank you for your unwavering support and for being part of our amazing #LensterFam! Let's continue to grow and flourish together! 💙🌟 Support Lenster by collecting this Post 🙇
LENS AGAIN 200$ lens airdrop will also big 💪
Next $ARB 👉👉 $LENS
top 5 whales $ARB buying price 1. bought $6.8M USD worth of ARB at null.38 2. bought $3.5M USD worth of ARB at null.28 3. bought $3.5M USD worth of ARB at null.36 4. bought $2M USD worth of ARB at null.28 5. bought $2M USD worth of ARB at null.33 🔗 Source : Lookonchain https://twitter.com/lookonchain/status/1639111212096167937?s=20 74% of total eligible users claimed ARB Airdrop Check : here https://dune.com/thedatanerd/arb-airdrop
$ARB
Guess what! 😁
**Confirmed! The Wait is Over ZkSync era is HERE** I believe you still can get #ZKS Airdrop by being active on #era Mainnet Here is the list of the biggest projects on #Zksync https://www.youtube.com/watch?v=vxrthzhaiNc Don't forget to like and Mirror and collect #AlphaInsiders
Coco Loco 🤪🥥
Create funny and dank Lens memes. We’ll mirror and highlight our favorites. We are running a competition on @memester-xyz.lens! Go to https://memester.xyz to submit your entry!
20 Aggregating Web3 Social with @yup_io — Nir Kabessa Nir Kabessa is the Co-Founder and CEO of Yup, along with Co-Founder Vernon Johnson. Yup is the best of web3, all in one feed. Aggregating the best content of Lens, Farcaster, Mirror, NFTs, and Crypto Twitter. A new way to curate your own feed and post across platforms. Nir was President of Blockchain at Columbia from 2018 to 2020. Since 2020 he’s been a Mentor at the Columbia IBM Blockchain Accelerator. He’s a speaker and investor, contributing at publications including Forefront, Hacker Noon and Big Think. Writing topics include EVM Network Effects, NFTs & the Meme Economy, and Curator Economy: Monetizing Taste in Web3. In this episode we talk about the EVM as a social network. The rapid evolution, growth and experimentation we’re seeing in web3 social. What it means for DAOs and media networks like UFO. And Nir’s early origins in the crypto space, starting way back in 2014 and amping up from 2017. listen — https://ufo.mirror.xyz/75AiFLfKQ0385pLwvUDbsk2AdynEN08eiKtEfUyNr7Q sponsors — @lensprotocol + @zerion + @yup_io
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Fishing for angles 🎣 📸 📍Amsterdam Collectible for 24 hrs || 0.5 WMATIC #NotFotoADay
Mint coming SOON
gm 🌞 Do you want to share all your Mirror posts on Lens automatically? What about sharing an AI-generated summary of it? 🤖✨ Now you can do it with our new templates! 🤩 🔗 Share new Mirror posts: https://chainjet.io/workflows/640466fe66c36aed7f3da845 🔗 Share the Mirror link with a summary: https://chainjet.io/workflows/641db92503e085ca49816372
wen mint @chriscomrie.lens
Finally, notifications that you’ll want to read 🤩 Get instant alerts for any wallet, any activity, any chain. Learn how 👇 https://zerion.mirror.xyz/qp1JfS4SXozvJdVOhcaCQLkUTZm0lYk0sLHlmAL3qJ0 Beyond Ethereum. Receive real-time alerts for any wallet activity on Polygon, Optimism, Arbitrum, BNB Chain, and more… Customize your multichain notifications. Track activities that you only care about: trade, mint, send, receive, and more… Find alpha 💎 Now with mobile notifications for on-chain actions Download Zerion 🔮 https://link.zerion.io/V0oSs5Ffpyb