why is polygon bad

regarding the polygon articles, one is dredging up the old topic of the crunch, and the other article is about transphobia

clearly this was strategically released as close to the game release as possible to generate bad press and i don’t know how they manipulated search results to be top story, but both of them are top stories right now. both are very old topics that have been buried by tons of hype, but now they’re bringing them back in these hit pieces.

not that there’s anything they can do at this point to really damage the game anyway, but i’m just curious why are they trying so hard to hate on cyberpunk 2077 and cdpr? i remember witcher 3 had similar controversies involving their playboy ads, and generally featuring good looking woman in revealing clothing, but cyberpunk is especially hard to comprehend because the logic is even harder to grasp.

Why polygon is bad

All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.

Polygon – The Solution to the Woes of Decentralized Application

The global financial industry is getting a reboot of sorts from DeFi and the cryptocurrency industry as a whole. But some bottlenecks are preventing the crypto industry from realizing its true potential.
The main culprits here are the high gas fees and slow transaction speed, as these issues are responsible for a bad user experience. So, why is it crucial to find a solution to these problems? If we don’t solve these problems, there won’t be meaningful growth in terms of DeFi & crypto adoption rate.

Why is polygon so bad

What is Polygon?

Polygon, formerly known as Matic, is a framework to build Ethereum compatible blockchain networks. To describe the features of Polygon, their whitepaper uses a term that perfectly sums the quality of the project – “Built by Developers, for Developers.” Now, the question is what problem does Polygon solve. Let’s explore the answer.

Originally known as Matic Network, the company rebranded itself as Polygon as the project scope increased.
Matic Network was limited to being a simple scaling solution, but Polygon is much more than that. Polygon is an ecosystem of collaborative blockchains that are massively scalable and also retain their self-sovereignty.

What Problem Does Polygon Aim to Solve?

There is no doubt that Ethereum has become a go-to blockchain platform to build blockchain applications.

Why polygon matic is bad

Also, no protocol can connect the newly created sidechains with the Ethereum blockchain. That is where Polygon delivers value to the developer community.

Polygon is both a framework and a protocol using which a developer can create Ethereum-compatible blockchain and connect them. It is also easy to deploy as it offers one-click deployment and offers modules to develop your custom blockchain networks.
This feature is very beneficial for the developers. It is also equally easy to exchange messages between Ethereum blockchain and other networks via the interoperability protocol of Polygon. Polygon also offers adaptor modules to enable Interoperability in existing blockchain networks.

History of Polygon

As we said in the beginning, Polygon began as Matic Network, but they rebranded as Polygon as the scale of their project grew.

Let’s understand a bit more about them.Stand-alone Chains

As the name suggests, these chains are independent and are responsible for their security. It means that they have their own set of validators, unlike the secured chain of Polygon Chains. Opting for stand-alone chains means your project will benefit from a high degree of independence and flexibility of operations.
Stand-alone Chains are more suitable for enterprise projects & large projects having strong communities.

Secured Chains

The secured chains rely on security as a service via fraud or validity proofs for blockchain network validations instead of setting up their validator pool. A project which is wishing to opt for secured chains can also use a credible validator pool like the shared security features of Polkadot.

Why is polygon bad-

Initially, Matic Network was only a Layer 2 Scaling Solution, but later they became an ecosystem of self-sustaining, collaborative, and interactive Ethereum blockchains.

Launched in October 2017, Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Jaynti Kanani, the CEO of Polygon, is a blockchain engineer and full-stack developer. Before founding Polygon, he was working with Housing.com as a Data Scientist.
He began his career as a Senior Software Engineer at Persistent Systems. As for his education, Jaynti has a Bachelor’s of Engineering in Information & Technology from Dharmsinh Desai Institute of Technology.

Polygon moved to its network later in 2019, but before that, they were active contributors on the Ethereum network.

Why is polygon bad2

Germany & Netherlands are prohibited.

Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying most tokens. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens.
This exchange currently accepts International & United States residents.

WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.

Uphold Disclaimer: Assets available on Uphold are subject to region.

Why is polygon bad3

Ethereum network, Polygon saw the need to build a framework that improves on Ethereum’s weaknesses (like slow transaction time and high fees) and to help connect the ever-expanding ecosystem of developers and apps.

Scoring the Uniswap dApp ecosystem is a big deal, but Opera — which has hundreds of millions of users and has built a cryptocurrency wallet — is especially significant. Opera users will be able to access dApps like SushiSwap(SUSHI-2.48%), NFT marketplaces like OpenSea, and metaverse platforms like Decentraland(MANA-1.97%) directly from their desktop or mobile device’s web browser thanks to the Polygon integration.

Now what

It’s still early days for the cryptocurrency universe, but decentralized platforms are working hard to make Web 3.0 an everyday reality for consumers and developers alike.

But there are some integral issues with the Ethereum blockchain that are holding it back from realizing its true potential. The three problems are low throughout, poor user experience because of high gas fees, delay in transactions, and lack of community governance.

To tackle the current challenges of using Ethereum blockchain, many new projects are exploring Ethereum-compatible blockchain. There is one more benefit in using the Ethereum-compatible blockchain.

It will also allow the developers to access the Ethereum ecosystem. So, there is a solution to the current problems that developers face with Ethereum blockchain – Create an Ethereum-compatible blockchain. But there was another problem that prevented for opting for this solution.

Before the launch of Polygon (Previously Matic Network), there was no framework to create an Ethereum-compatible blockchain.

A total of 12% of MATIC token supply was for network operations. The foundation’s share in the total supply of MATIC tokens is 21.86% of MATIC’s entire supply, whereas 23.33% of it is for the Matic ecosystem, now Polygon.

How to Buy Polygon (MATIC)

Polygon (MATIC) is currently available for purchase on the following exchanges.

Bitstamp – Founded in 2011, Bitstamp is one of the oldest & most trusted exchanges in the world. They currently accept Canada, UK & USA residents excluding the states of Alabama, Hawaii, Idaho, Louisiana, Nevada, & New Jersey.

Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies.

Anurag has also worked with Cognizant, Dexter Consultancy Private Limited, and SNL Financial.

How Does Polygon Work?

To understand how Polygon works, we must view it as a four-layer architecture or system where the first layer is the Ethereum layer. The next layer is the security layer, the third is the Polygon networks layer, and the last is the execution layer. Every layer here plays a different role in how Ethereum works.

The first two layers – the Ethereum layer & security layer, are optional.

The first layer, AKA the Ethereum layer, handles communication with various Polygon chains and is also responsible for transaction finality and staking process.

With this chain, your project will benefit from better security, but it also means reduced flexibility and autonomy. Secured Chains are more suitable for startups and projects that give more importance to security.

MATIC Tokens

The initial circulating supply of MATIC tokens was 3,230,085,551, and the issuing price was $0.00263. As for the total supply of MATIC tokens, it is 10 billion.

Even after Matic Network rebranded into Polygon, they continued with MATIC tokens. They did not make any changes to the supply of it. As for the allocation of MATIC tokens, they allocated 3.80% of their total supply for private sale. Then, they set aside 2.09% of their total supply was for seed allocation. Matic Network raised $5 million in BNB through a public sale.

16% of MATIC’s total supply was set aside for the team, whereas 4% of its supply was for advisors.

Leave a comment