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How does Polygon work for Ethereum's scaling?

2021-06-08 21:13:19 UTC
2021-06-29 15:05:02 UTC
<p>A sidechain is a separate blockchain that works in conjunction with an associated mainchain. It has its own consensus mechanism and is connected to the mainnet through a two-way peg (meaning that coins can be transferred to and from the mainchain to the sidechain). </p><p>The Polygon project is one of the most recent attempts at improving blockchain interoperability and scaling through an Ethereum Virtual Machine (EVM) compatible sidechain. The network brings scaling solutions to&nbsp;ETH by using a bridge, which allows assets to be moved between the mainchain and a proof-of-stake based side chain. Its architecture is split up into a four-layer system, composed of the Ethereum layer, a security level, the polygon network layer, and an execution layer. The result is a solution for faster and lower cost transactions.</p><p>A single Polygon sidechain should be able to achieve 65’536 transactions per block (currently, Ethereum can complete around 714.29 transactions per block for basic transactions). It is possible that it will be able to complete millions of transactions on multiple chains in the near future. Due to these factors, the Polygon network is likely to become the de facto avenue for retail users to gain exposure to Layer 2 options.</p>