Industry-dominating layer two scaling solution Polygon (MATIC) is an EVM-compatible ‘sidechain’ with a booming ecosystem. Offering speedy and low-cost transactions, Polygon promotes itself as a home to over 19k decentralized applications. How can developers benefit from Polygon blockchain nodes?
What is Polygon (MATIC)?
Formerly known as the Matic Network, Polygon not only rebranded its name but also expanded its tech stack. Thus, the network combines both optimistic rollup and zk rollup technologies to reach the highest possible scalability.
Being the top leading blockchain for dApp development, Ethereum (ETH) is prone to suffering congestion, which makes the prices go up and the security decrease. The bottleneck created by the ever-rising activity can be solved by a powerful scaling solution, such as Polygon.
The term ‘second-layer network’ stands for a platform built on top of Ethereum, which plays the role of an add-on layer and helps the original network function faster and more efficiently. The utility of such solutions has already been proven by web3 developers and crypto enthusiasts.
Polygon architecture explained
The activity overload on Ethereum (ETH) and the network’s capability to only process approximately 14 TPS cause extremely high gas fees (we are talking above the $50-80 price point per transaction), making the decentralized platform inaccessible for many users. Not only that, the overall speed of ETH drops significantly due to continuous transfers, trades, and so on being performed simultaneously.
Polygon, therefore, strives to maximize the number of transactions per second - potentially, the network has the ability to maintain 65,000 TPS.
More importantly, the platform supports an array of various scaling solutions, including but not limited to zk rollups, optimistic rollups, plasma sidechains, and a PoS blockchain bridge.
The original Matic network began working with plasma sidechains, aka stand-alone networks designed to run alongside the primary, or parent, chain. In this case, plasma sidechains are able to connect to Ethereum, execute and further validate transactions off-chain.
Zk-rollup transaction batches are reliant on validity proofs to provide cryptographic assurance. Besides that, the prover is not obliged to demonstrate any other type of information. Polygon is the first-ever open-source zk-rollup-based blockchain.
In addition to the previous point, Polygon has recently launched its own unique version of zero-knowledge proofs offering complete EVM compatibility. With zkEVM, developers can benefit from deploying ETH smart contracts to a Layer 2 while retaining the overall functionality of Ethereum.
Polygon zkEVM allows users to build applications in the same way one does on Ethereum, deploy any ETH tool and/or smart contract. Essentially, Polygon zkEVM supplies top-tier ZK scalability alongside Ethereum utility.
Optimistic rollup is different in the way that all transactions are initially believed to be valid. In the case, fraud proofs locate a forged transaction, the protocol self-executes and establishes the accurate transaction. Both zk and optimistic rollups help reduce gas fees and pump up the speed of transactions.
With the help of a PoS bridge, web3 developers are able to build decentralized applications on Polygon and other PoS chains while keeping the benefits offered by each platform. This helps offload the Ethereum ecosystem by making it lighter and faster.
The network’s philosophy is to provide a wide range of accessible choices for web3 developers, given the fact that each solution comes with its benefits and possible drawbacks. The Matic ecosystem allows developers to select the most appropriate solution according to their requirements.
What is MATIC cryptocurrency?
MATIC is Polygon’s native cryptocurrency used to power the blockchain. It is an ERC-20 token designed to pay for transaction fees, governance, staking, etc. The name MATIC was kept from the original platform.
MATIC is a fairly successful token due to its high demand among web3 developers. The token is available on platforms such as Coinbase, Binance, FTX, KuCoin, Kraken, Huobi, and others.
How to use Polygon blockchain nodes
Polygon (MATIC) utilizes various types of nodes, including validator Polygon nodes and archive Polygon nodes. While validator nodes are designed to validate transactions, archive nodes store blockchain-related information. The network offers a full guide on how to implement and utilize nodes effectively.
With the help of GetBlock - a pioneer blockchain provider - developers get fast access to MATIC nodes, allowing them to create and launch dApps, e.g. robust and secure DeFi applications. Polygon API is easily integrated into decentralized businesses via GetBlock.
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Polygon (MATIC) is a serious project aiming for long-term success. It is largely dependent on Ethereum, making it a great addition to the robust network utilized by web3 developers internationally. Thus, the main mission of the scaling solution stands clear – Ethereum mass adoption.
Polygon makes near-instant and cheap transactions a reality. It is a sustainable platform with a wide range of options available for users. Therefore, in order to use the solution you would need to bridge your tokens to the Matic network first. Once the bridging process is complete, it is possible to trade your funds, use them to generate yield, and even play no-loss prize games, and so on.
Initially released in 2017, Polygon has established its name as one of the best add-on solutions for Ethereum. However, as some experts point out, Matic comes with its own risks (for example, the value from ETH could be diluted when switching to Polygon), therefore it is extremely important to do your own research before utilizing the network.
Frequently Asked Questions
Is Polygon a network or blockchain?
Polygon is a second-layer scaling solution for Ethereum. The network delivers a simpler framework for dApp development.
What is a Polygon node?
Polygon nodes are computing devices that store a copy of the blockchain history and validate transactions. Polygon utilizes different types of nodes and offers a thorough guide on how developers can benefit from the network’s user-friendly ecosystem.
How many nodes does Polygon have?
Polygon has multiple different types of nodes and 100+ validators. The device you are using is required to have at least 16-32 GiB memory, a minimum of 1.2 TB SSD (extendable), and 4-8 core CPU (t3 xLarge). These are the minimum requirements for robust performance.
How do you get a MATIC node?
It is possible to deploy MATIC infrastructure via blockchain provider GetBlock. Developers can save time and money by utilizing Polygon nodes hosted by GetBlock in comparison to self-hosted nodes.
Is Polygon staking safe?
Polygon staking could be a safe way of earning interest, as it can be done offline and is reliant on how much a user is willing to invest. Please make sure to do your own research before committing to any digital activity.