-
Bitcoin $92,628.6145
-0.48% - Ethereum
$1,768.4886
-1.00% - Tether USDt
$1.0001
-0.02% - XRP
$2.1788
-2.09% - BNB
$604.6400
-1.64% - Solana
$148.1224
-0.74% - USDC
$0.9999
0.00% - Dogecoin
$0.1726
-5.06% - Cardano
$0.6822
-1.37% - TRON
$0.2433
-1.69% - Sui
$2.9740
6.38% - Chainlink
$14.4891
0.72% - Avalanche
$21.9210
-2.25% - UNUS SED LEO
$9.1740
1.21% - Stellar
$0.2616
-2.03% - Toncoin
$3.1132
-0.55% - Shiba Inu
$0.0...01317
-4.27% - Hedera
$0.1771
-2.49% - Bitcoin Cash
$363.3000
1.82% - Polkadot
$3.9802
-2.53% - Litecoin
$82.0667
-2.95% - Hyperliquid
$18.0694
-5.17% - Dai
$1.0000
0.01% - Bitget Token
$4.4799
-3.52% - Ethena USDe
$0.9994
-0.02% - Pi
$0.6501
-0.27% - Monero
$226.5326
0.45% - Uniswap
$5.8488
-1.49% - Pepe
$0.0...08497
-7.17% - Aptos
$5.2845
0.26%
Which chain is Polygon(MATIC) coin on?
Polygon (MATIC) coin operates on the Ethereum blockchain as a Layer 2 scaling solution, inheriting the security and decentralization of Ethereum while enhancing scalability and cost-effectiveness.
Dec 06, 2024 at 09:13 pm
Which Chain is Polygon (MATIC) Coin On?
Polygon (MATIC) is a Layer 2 scaling solution for Ethereum that enhances transaction speed and reduces gas fees. As a result, it has gained significant popularity within the blockchain ecosystem. However, it's important to note that Polygon is not a separate blockchain but operates as a layer on top of the Ethereum blockchain.
How Polygon Works
Polygon operates by bundling multiple transactions together into a single block, known as a 'rollup'. This block is then processed and validated on the Ethereum blockchain, significantly reducing the computational load and hence the transaction fees. Additionally, Polygon's proof-of-stake (PoS) consensus mechanism further enhances scalability and cost-effectiveness.
Polygon and Ethereum
Polygon's relationship with Ethereum is multifaceted, both complementary and distinct. While Polygon operates as a layer on top of Ethereum, it maintains its own set of validators, governance mechanisms, and tokenomics. This unique dualistic nature allows Polygon to inherit the security and decentralization of Ethereum while offering superior scalability and cost-effectiveness.
Benefits of Polygon
Polygon's Layer 2 solution offers several advantages:
- Scalability: Polygon can process thousands of transactions per second, considerably faster than Ethereum's base layer. This increased throughput enables faster and more efficient transactions.
- Low Gas Fees: By bundling transactions together, Polygon significantly reduces gas fees, making it more cost-effective to use Ethereum-based applications and services.
- Enhanced Security: As a Layer 2 solution built on Ethereum, Polygon inherits the security and reliability of the Ethereum network, ensuring the protection and integrity of transactions.
- Interoperability: Polygon is compatible with Ethereum Virtual Machine (EVM), allowing developers to easily deploy and execute smart contracts built for Ethereum on the Polygon network.
Conclusion
Polygon (MATIC) coin operates on the Ethereum blockchain as a Layer 2 scaling solution. It leverages rollups, PoS consensus, and its unique relationship with Ethereum to offer enhanced scalability, reduced gas fees, and improved user experience without compromising security or decentralization.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
- BetMGM Bonus Code CUSE150
- 2025-04-24 12:05:12
- Xrp (XRP) Price Prediction: As Momentum Builds, Technical Indicators Hint at Potential Upside
- 2025-04-24 12:05:12
- Alchemy Pay (ACH) price prediction: Technical analysis
- 2025-04-24 12:00:26
- As US-China Tensions Intensify, Investors Seek Refuge in Gold and Bitcoin
- 2025-04-24 12:00:26
- Mutuum Finance (MUTM) Stuns the Crypto World with Impressive Rally, Reaching New Highs
- 2025-04-24 11:55:12
- Memli Krasniqi's cryptocurrencies have increased in value
- 2025-04-24 11:55:12
Related knowledge
MANTRA will launch an OM token repurchase plan. How should investors respond?
Apr 22,2025 at 11:07am
MANTRA, a prominent player in the cryptocurrency space, has announced its plan to launch an OM token repurchase program. This development has sparked significant interest among investors, who are now faced with the decision of how to respond to this news. In this article, we will delve into the details of MANTRA's OM token repurchase plan and provide gu...
All MANTRA team tokens are locked, why did OM still experience a sharp drop?
Apr 20,2025 at 11:14am
Introduction to MANTRA and OM TokenThe MANTRA project is a blockchain platform that aims to provide a scalable and secure environment for decentralized applications (dApps). The native token of the MANTRA ecosystem is OM, which plays a crucial role in governance, staking, and other functionalities within the platform. Recently, the MANTRA team announced...
OM tokens were forced to close in the early morning. How can MANTRA avoid similar incidents?
Apr 22,2025 at 08:49pm
The recent forced closure of OM tokens in the early morning has raised concerns among cryptocurrency enthusiasts and investors about the stability and security of similar projects. MANTRA, another token in the cryptocurrency space, can learn valuable lessons from this incident to enhance its resilience and safeguard its community. In this article, we wi...
MANTRA announces OM support plan. Can repurchase and destruction stabilize the currency price?
Apr 21,2025 at 01:57pm
MANTRA, a notable player in the cryptocurrency ecosystem, has recently announced an OM support plan that includes mechanisms for repurchasing and destroying tokens. This move has sparked significant interest and discussion within the crypto community, particularly around its potential impact on the stability of the OM token's price. In this article, we ...
A large amount of OM was liquidated due to collateralization, causing a sharp drop? MANTRA analyzes the reasons for the market turmoil
Apr 21,2025 at 01:57am
The cryptocurrency market is known for its volatility, and sharp price movements can often be attributed to a variety of factors. Recently, a large amount of OM (Mantra DAO's native token) was liquidated due to collateralization issues, leading to significant market turmoil. In this article, MANTRA analyzes the reasons behind this event and the subseque...
MANTRA CEO promises to destroy team tokens, can OM market restore confidence?
Apr 21,2025 at 08:28am
The recent announcement from the CEO of MANTRA about destroying team tokens has sparked a wave of discussions within the cryptocurrency community. This move is seen as a strategic effort to restore confidence in the OM market, which has been facing various challenges. The decision to burn team tokens is not just a simple action; it involves a series of ...
MANTRA will launch an OM token repurchase plan. How should investors respond?
Apr 22,2025 at 11:07am
MANTRA, a prominent player in the cryptocurrency space, has announced its plan to launch an OM token repurchase program. This development has sparked significant interest among investors, who are now faced with the decision of how to respond to this news. In this article, we will delve into the details of MANTRA's OM token repurchase plan and provide gu...
All MANTRA team tokens are locked, why did OM still experience a sharp drop?
Apr 20,2025 at 11:14am
Introduction to MANTRA and OM TokenThe MANTRA project is a blockchain platform that aims to provide a scalable and secure environment for decentralized applications (dApps). The native token of the MANTRA ecosystem is OM, which plays a crucial role in governance, staking, and other functionalities within the platform. Recently, the MANTRA team announced...
OM tokens were forced to close in the early morning. How can MANTRA avoid similar incidents?
Apr 22,2025 at 08:49pm
The recent forced closure of OM tokens in the early morning has raised concerns among cryptocurrency enthusiasts and investors about the stability and security of similar projects. MANTRA, another token in the cryptocurrency space, can learn valuable lessons from this incident to enhance its resilience and safeguard its community. In this article, we wi...
MANTRA announces OM support plan. Can repurchase and destruction stabilize the currency price?
Apr 21,2025 at 01:57pm
MANTRA, a notable player in the cryptocurrency ecosystem, has recently announced an OM support plan that includes mechanisms for repurchasing and destroying tokens. This move has sparked significant interest and discussion within the crypto community, particularly around its potential impact on the stability of the OM token's price. In this article, we ...
A large amount of OM was liquidated due to collateralization, causing a sharp drop? MANTRA analyzes the reasons for the market turmoil
Apr 21,2025 at 01:57am
The cryptocurrency market is known for its volatility, and sharp price movements can often be attributed to a variety of factors. Recently, a large amount of OM (Mantra DAO's native token) was liquidated due to collateralization issues, leading to significant market turmoil. In this article, MANTRA analyzes the reasons behind this event and the subseque...
MANTRA CEO promises to destroy team tokens, can OM market restore confidence?
Apr 21,2025 at 08:28am
The recent announcement from the CEO of MANTRA about destroying team tokens has sparked a wave of discussions within the cryptocurrency community. This move is seen as a strategic effort to restore confidence in the OM market, which has been facing various challenges. The decision to burn team tokens is not just a simple action; it involves a series of ...
See all articles
