How Polygon Helps Blockchain Platforms Like PhoenixDAO?

Polygon (previously Matic) is working to improve decentralized blockchain interoperability and help blockchain platforms bypass the limitations of the Ethereum Network. The company provides the tools and the knowledge to developers to create cross-chain applications that can integrate the Ethereum Network without compromising on scalability, security, or decentralization.

The company has been helping several projects bypass the limitations of the Ethereum Network, such as Network Congestion and high Gas Fees using its Full-Stack Scaling Solution. 

What is Polygon?

Polygon is an advanced protocol and a decentralized framework for connecting and building Ethereum-compatible blockchain networks. The company aggregates scalable solutions on Ethereum to create a multi-chain ecosystem. 

Polygon works to provide an efficient and permanent solution to the problems Ethereum Network faces using its scaling solution, such as:

• Low Throughput

• Poor UX 

• Lack of Sovereignty

While several projects are looking for Ethereum-compatible and alike alternatives, there is no platform to build such alternatives or connect them. This limitation hinders the growth of the DeFi industry and causes ecosystem fragmentation. 

Polygon has a specialized framework that can equip developers with the essentials to build Ethereum-compatible blockchain projects and connect them seamlessly. 

Polygon as a solution

Polygon is a protocol and a framework that helps designers to build and connect Ethereum-compatible blockchain networks on its Full-Stack scaling solution. It facilitates transactions to become quicker and faster for blockchain projects built on Polygon Network than those built on Ethereum Network. 

For this purpose, Polygon uses its Proof-of-Stake (PoS) protocol that acts as a side chain to Ethereum with plasma checkpoint nodes that promote quicker and cheaper transactions. Using these solutions, Polygon can achieve 65,000 transactions per block. 

• Easy, one-click deployment of predesigned blockchain networks. 

• Constantly growing set modules for developing custom networks.

• Interoperability protocol to communicate with Ethereum and other blockchain networks.

• Modular and optional "security as a service."

• Adaptor modules to enable interoperability of pre-existing blockchain networks.

Polygon combines the best that Ethereum and other blockchains have to offer to create a set of robust features which are built by developers and for developers. The company uses this feature to help build blockchain projects on its scaling solution. 

• ETH Compatibility

Polygon achieves industry dominance with the help of an established tech stack, tools, languages, standards, and enterprise adoption.

• Scalability

It has dedicated blockchains, scalable consensus algorithms, and custom Wasm execution environments.

• Security

It provides modular "security as a service", either by Ethereum or by a pool of professional validators.

• Sovereignty

It ensures dedicated throughput/resources, a fully customizable tech stack, and sovereign governance.

• Interoperability

The platform provides native support for arbitrary message passing (tokens, contract calls, etc.), and bridges to external systems.

• User Experience

Polygon offers a user experience comparable to Web2 with "zero-gas" transactions and instant (deterministic) transaction finality.

• Developer Experience

Developer experience of Polygon is equivalent to Ethereum, and no protocol level knowledge, token deposits, fees, or permissions are required.

• Modularity

It offers high customizability, extensibility, upgradeability, and a short time-to-market with community collaboration. 

Polygon's use cases

Polygon has several use cases as its side chains are ideal for building protocols and can potentially become a fundamental layer of the DeFi ecosystem. The platform offers faster and cheaper transactions and block speed than the Ethereum Network. All these features create an excellent opportunity to build dApps. 

PhoenixDAO

PhoenixDAO is an excellent use case for Polygon that runs on both Ethereum and Polygon Network. PhoenixDAO chose to operate its dApps on Polygon alongside Ethereum Network to offer their users a cheaper and faster way to make transactions. 

PhoenixDAO utilizes NFT technology and will launch $PHNX and Events Marketplace on Polygon's PoS Chain. This proves the immense capabilities of the Polygon scaling solution and its potential to help several blockchain projects regardless of their chosen industry. 

Polygon is capable of providing inexpensive and high-speed transactions, making it profitable for new blockchain projects. Polygon is a Full-Stack scaling solution for Ethereum, which makes the job easier for Ethereum Developers. The company has world-class resources at its hand that can help blockchain projects such as PhoenixDAO. 

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