The ever-so-popular 1xBit Casino has added yet another crypto – Polygon (Matic) – to its expanding portfolio of crypto assets.
And, it’s a pretty big deal!
Because it might solve Ethereum’s scaling issues!
Here’s the thing, Ethereum has immensely pushed the boundaries of blockchain technologies, especially in the decentralized finance sector where many projects have been able to leverage the flexibility and effectiveness of the host blockchain.
But, due to high costs and slow transaction speeds that are limiting the performance of Ethereum-based blockchains, many of these projects have migrated to alternative blockchains like Binance Smart Chain, or Solana, for example.
Another shortcoming of Ethereum is that it’s not compatible with other blockchains and often gets congested, causing high transaction fees.
And, although many are still clinging to the Ethereum blockchain, waiting for Ethereum 2.0 to fully scale the network, Ethereum still finds itself in dire need of a solution that will speed up the blockchain’s output.
But, Polygon is here to save the day because it enables interactions with other chains to create a system that allows developers to easily introduce and maintain their own Ethereum-compatible networks.
In short, Polygon will improve Ethereum’s scalability, high transaction fees, and user-friendliness.
Polygon’s Native Currency – MATIC
MATIC is Polygon’s native currency, and 85% of its 10 billion units are already in circulation, which is quite impressive considering that over 130 million users are already benefiting from the strengths of its network.
Here’s how Polygon compares to Ethereum:
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