User Adoption in Bear Market


Hello Everyone

  1. Polygon has placed themselves as the best L2 out there.
  2. The user growth is hitting over the roof.4
  3. What are community thoughts on future of MATIC token?
  4. WIth new L1 such as APTOS and SUI launching, How do you see Polygon holding up?

Answers 2

As you mentioned, Polygon is L2 for Ethereum. It is part of the Ethereum ecosystem. More important question to me is ETH 2.0 vs Sui and Aptos. Sui is a promising project with its unique approach. However, it still needs to prove itself on the battlefield. Ethereum community is very mature and has their on plan for solving scalability problems. Only time and actual usage will show which approach is better. It is great to see competition in innovation in blockchain technology.

Another big question is the future of Polygon with maturity of ETH 2.0. Will it still be needed? Polygon posted this article on the topic.

The short answer: the merge is only good news for Polygon.

Ethereum’s roadmap describes a vision of the network becoming a settlement layer for Layer 2 solutions like Polygon. The core developers of Ethereum see it as the foundation on which L2s will draw their security, and transactions will be posted.

Aptos blockchain and sui is a scalable layer one network that has attracted innovative Web3 projects in the last six months. Polygon (previously Matic Network) is one of the first blockchains built to bring scalability to the Ethereum ecosystem in 2017. It has been the foundation of several successful projects. The two blockchains have several similarities so the similarities have made people call aptos or sui a poly gon killer but it has some diffrences which make them all stand out on their own for eg : Aptos runs on the Move programming language which is a Rust-based language. It was originally designed for the Diem project. According to the Whitepaper, Move was created with security and scalability as the top two priorities. It was designed to prevent the cloning of assets so “that digital resources can only have one owner at a time and can only be spent once.” Aptos blockchain uses $Aptos as the native currency and is not EVM compatible. while Polygon is an EVM-compatible network, functions with the Solidity programming language, and has $Matic as the native token. Aptos blockchain uses a Proof of Stake consensus supported by a low latency Byzantine Fault Tolerant (BFT) system. The BFT system prevents failure of the network in situations when a node or group of nodes becomes malicious. Polygon uses a Proof of Stake mechanism that makes it fast, and cheap by connecting with side-chains to enhance transaction processing. The Plasma bridging framework provides the security needed in the Polygon network. It also uses zk-Rollups and optimistic Rollups which enhances its scalability. And finally, The Aptos network was projected to process up to 160,000 TPS. However, that has not been the case so far. For now, there is no record of the total number of transactions on the network. while Polygon has 100 active Validators, over 135 million unique addresses, 13K delegators on PoS, 1.8 billion total transactions, about 4 billion total Matic staked, 145,000+ contract creators, $140 million avg Daily Gas Saved, and a TPS of 7,000.