THE POLYGON NETWORK

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With its cutting-edge smart contract technology, Ethereum has without a doubt contributed significantly to the huge growth of the cryptocurrency industry. Although this technology has created a world of decentralized applications, it still has significant drawbacks, such as a slow transaction speed. The cost to execute one transaction will be very expensive when we take into account the number of users of Ethereum and compare it to the number of transactions Ethereum can perform per second.
This is because a lot of individuals will be competing to be one of the lucky 30 persons selected to complete their transaction. There are also alternative blockchains that can execute more transactions per second, like the Pokaldot Blockchain and the Cardano Blockchain (257 per second).

The Ethereum blockchain is unfriendly to users in that there will be a lot of individuals vying for processing space, which raises transaction costs. Just to send $1 to someone, you can be charged a transaction fee of $30. Due to the creators' single throughput option for transactions, the Ethereum blockchain offers few possibilities. The good news is that despite its extremely slow transaction speed, there is a blockchain that makes use of Ethereum Smart Contract technology.

WHAT IS POLYGON?

The layer 2 scaling platform Polygon offers a remedy for the issue the Ethereum blockchain is having. Applications created on Ethereum use Polygon to address the issue that Ethereum is now experiencing. By integrating numerous different Defi applications, Polygon aims to boost the use of decentralized finance technologies. More than 3,000 applications have been connected using Poly. You should be aware that three Indian developers founded the Polygon blockchain in 2017, however it was formerly known as Matic before that.

EVM: What Is It?

A collection of computer programs known as the Ethereum Virtual Machine is used by numerous machines all around the world to execute Smart Contracts. Not only does Polygon network leverage EVM, but also Binance Smart chain, Fantom, and numerous other blockchains. This enables network connectivity for developers of numerous large projects with only little adjustments.

PROOF OF STAKE POLYGON

The only difference between Polygon's Proof of Stake chain and the Ethereum blockchain is that Polygon employs a PoS consensus mechanism. It's faster and less expensive thanks to the Polygon PoS side chain. The developer performed a terrific job improving the network because one of the main aims of the Polygon network is to offer user-friendly tools. You should be aware that while the Polygon network only has one proof-of-stake blockchain, it has a variety of other blockchains that can help the Ethereum network scale. The transaction charge for Polygon is really affordable—it is less than one cent.

HOW DOES POLYGON FUNCTION?

Because Polygon Network is a layer 2 solution for Ethereum, it functions in tandem with the Ethereum blockchain. The Polygon is a chain that has been committed to the Ethereum blockchain, and what the commit chain does is compile all the data from all the transactions into one batch before sending it back to the Ethereum chain.

LAYER OF ETHEREUM
The Security layer, Ethereum layer, Polygon Network layer, and Execution layer are the four layers on which the Polygon network operates. The Ethereum layer makes use of everything related to smart contracts, and these contracts execute staking, confirm transactions, and link several Ethereum blockchains.

SAFETY LAYER
The security layer just collaborates with the Ethereum layer to maintain the network's high level of security; it doesn't do anything else. I want you to know that the Ethereum layer and Security Layer are not crucial because Polygon can function without them.

OPERATING LAYER
The Ethereum virtual machine is located in the execution layer, where its function on the network is to carry out smart contracts on the Polygon blockchain.

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