Polygon network is evolving continuously as a layer 2 solution for Ethereum. This protocol provides users with security, transparency, scalability and low transactions fees. In this article, we are going to take look at The Newest Polygon Innovation.
The Newest Polygon Innovation ; new solution
Now, Polygon has offered another plan. This innovative outline, which is called “Polkadot on Ethereum”, intends to integrate multi-chain networks by unifying all in a single network. In order to reduce the fees, Polygon launched a scaling solution as well as SDK stack for creation of Ethereum compatible chains. Consequently, Polygon could bring the best autonomous blockchains and Ethereum network together to solve the basic problems of Ethereum. In contrast, other parachains, this open-source solution is more secure and allows DeFi apps to utilize a comprehensive framework, which has interoperability option to interact with others.
Polygon’s ambition in this project aims to be the second layer solution, which provides a perfect framework to connect and create Ethereum compatible multi-chain networks. In essence, Polygon plans to solve Ethereum problems and transform it to a complete multi-chain system. As a result, this system will allow the ecosystem to grow incredibly at lowest fees besides navigating the current Ethereum network security. Currently, DeFi projects like Aave and 1inch have been launched on Polygon to take the advantages of low fees. As an example, you should pay only $25 in order to transfer $43 million.
Although Polygon concept is similar to other multi-chain systems like Polkadot, it has some other unique features. In comparison with other solutions, Polygon is notably more secure. Although other projects focus is on creation of bridge protocols on Ethereum, Polygon works with Ethereum platform and it takes full advantage of its proven security capabilities.