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How come the transaction gas can be lower using polygon? They still use ethereum. Is it because the smart contract is not uploaded the ethereum network?
@@randomTVSWE it’s bc they have a proof of stake system in eth 2.0 meaning they have validators instead of miners ( which hurts environment and isn’t as scalable)
Yeah look at the three month trend. I think this current dip is a good time to buy - downward and then lateral movement after a pump, and after some time up to a new high. Seems like a good play to hodl for 3-6 months and re evaluate
Hey great video man. Only criticism I would have is that you suggested the Graph and Chainlink were choosing to endorse polygon by expanding there. These protocols are blockchain agnostic and can be implemented on any blockchain. They both are quite literally partnered with every layer 2 and layer 1 that is relevant in the space. They will provide their services on any chain which has demand for them
Thank you for this great information, I've been a crypto Owner & potential developer for just short of 3 years. After taking the time to research the many options, I thought I'm going to have a look at Polygon. I'm British & I have few close friends who are of Indian decent which made it more appealing to me. Thankfully in my opinion I've chosen the right route to go & I'm reaping the benefits. Things should only get more interesting after web3 is rolled out everywhere. Luckily or wisely the ones who have put their money where their mouth is will be rewarded for having the faith in such a great set up. Thanks
Dude I got hands on your channel jus today and i am regretting why I didn't know about ur channel before. Man you are legend and Mark my words, soon u will gonna get fucking famous and will cross 1 Million in 2021 itself. Loads of love from India.
Thanks for the great video. Will Eth 2.0 and its own scaling solutions like sharding and ZK Rollups negatively impact Polygon? Recently Vitalik mentioned in an interview that Polygon is doing a good job for the Eth community till Eth 2.0 launches.
Nope. It is both a layer 1 or layer 2 blockchain at the same time. It is also the only L2 that bridges BTC and ETH. As well as all of this it is faster, cheaper to use, has more security, etc. Think of it this example. (It is a wired one and idk why I went this route) ETH (Etherium is a Tesla Factory. It is profitable, makes amazing vehicles, and can provide innovative products people want! Polygon is a Government that rules over the Tesla Factory. It makes profit off of ETH with both its utility but also it enables ETH to do business more efficiently. Polygon also has many many other factories it provides functionality to. Polygon also builds its own resources that provide value to the factories under it. Hope that helps
Your Tesla/Gov example makes sense. However, since matic seems to benefit primarily from ETH weaknesses, it isn’t clear if they will prevail once ETH 2.0 fixes scalability and transaction speed issues. We hope they do.
@@iangorton3375 It actually is not a true layer 2 solution since it does most of the computing and workload off-chain and does not inherit all of the attributes of the main chain. reference: thedefiant.io/polygons-rise-comes-with-increased-scrutiny-of-the-scaling-solutions-security/
Makes a lot of sense, Finematics. We appreciate your help in educating us. If you don't mind, I have a question - What are the direct competitors to Polygon at the moment? Have you heard of the Aventus Protocol and would you compare them to Polygon?
I have used matic and it is good. I have one question does the matic layer 2 solution using eth layer use eth to settle any form of transaction? Searching the internet for this answer
I couldn’t find your channel for a month, I won’t be forgetting the name of your channel this time!! But there has to be something we can do to get your subs up I think you and Guy from coin bureau are some of the most technically savvy about all this
Polygon is such an interesting project, thanks for the video. Would you consider doing a video about Bancor v2.1 to follow up on your V2 one? Chainlink isn't used anymore, arbitrum is coming, limit orders, vortex, UX redesign and more
sure, I'd like to do one on Bancor 2.1, but there is a lot of other topics in the pipeline as well, so hard to say when I'll find some time to cover it
So IF Ethereum successfully moves to proof of stake then this will still offer flexibility to lessen dependence directly on Ethereum regardless of real world electricity use considerations etc!? Obviously gas fees etc however defined have some correlation with actual electricity use...
Polygon is now live in the Klever ecosystem. This is going to be a great teamwork. I'm way deep in klever but not Polygon. Just heard about Polygon today and it sounds very promising.
Thanks for the great explanation. Matic doesn’t solve the finality issue. Avalanche has subsecond finality. Its compatible with evm as well. It has growing ecosystem. It has pangolin which is a clone of uniswap on eth.
ETH2.0 + Rollups are going to be what makes Ethereum scale. Optimistic Rollups releasing later this month will reduce gas costs by 100-200x, and then ETH 2.0 will decrease it by another 100x.
I can't wait until you do an instructional video on the Flare Network and/or the Flare-Finance (styled) set of DeFi solutions. That should be really interesting!
Sorry correct me if i am wrong here; to summarise; polygon is Eth's close cousin meaning if Eth is going up = polygon is going up and if ETH is going down =polygon is going down...correct?
You and the people who build these blockchains are smarter then 99.9 percent of the human race. Watching this video in 2024 and we are still so early in crypto that we can't comprehend
excellent explanation sir. can u also make a video on "how to become polygon dapp developer" OR "path to be DApp developer from no code background, no degree" ??
Amazing video, I recently discovered your channel and suscribed.... The animations and explanations are amazing, but I find the voice a bit too "rough", with my headphones it's not super pleasant to listen to your videos, maybe some settings could be fixed with your voice recorder er else, I don't know...
Polygon's approach is interesting but by adding so much flexibility it's more complex to onboard dapps who have Arbitrum and Optimistic as simpler solutions
I'd really like to see "Avalanche Network" (AVAx) Explained" video by yourself. As I researched about it (unfortunately, not as good as you), it looks so fast, has a good architecture and solution-oriented mentality for some crypto-based problems.
