What is Polygon?
Polygon is Ethereum-based blockchain technology that provides more scalability platforms. It is a layer 2 aggregator which aims at creating a multichain Ethereum ecosystem. Polygon leverages Ethereum security. The primary aim of the polygon is to expand usage of the Defi (Decentralized finance) tools and applications. Polygon’s network is presently hosting around 3000 decentralized applications also more than 80 big-name companies have drifted toward polygon from the Ethereum main chain. Developers find polygon very similar to Ethereum which makes them migrate from Ethereum to other EVM(Ethereum virtual machine) blockchain-like polygon where they can find reach and increase usage.
Advantages:
- Polygon does not require any gas fees on its blockchain network. It is easy to sell or buy NFT on polygon as it is gas fees-free, but one needs to pay a very small amount of gas fees when they convert Ethereum ETH to Polygon ETH.
- Polygon is a very scalable platform.
- Polygon is built on the Ethereum blockchain to increase the volume of transactions.
Disadvantages:
- Polygon is less secured when it comes to security.
- Polygon has less familiarity with the NFT market.
- Polygon blockchain does not support an auction facility on its platform.
Ethereum vs Polygon – Which is Better For NFTs?
This article focuses on discussing the difference between Ethereum and Polygon. Let’s start discussing each of these topics in detail.
- What is Ethereum?
- What is Polygon?
- What is NFT?
- Ethereum vs Polygon.
- Should I Use Ethereum or Polygon on OpenSea?
Let’s start discussing each of these topics in detail.