If narratives run these crypto investment cycles, then several narratives have dominated this bull run. Think metaverse tokens, dog coins and L1 solutions like Solana and Avalanche. But the narrative standing strong in decentralized finance (known as DeFi) is about Layer 2 solutions, with Polygon leading the pack.
On today’s CoinMarketCap episode we take deep dive into the Top Polygon Projects
02:42 JellySwap
03:20 QuickSwap
04:13 Opacity
05:01 Mai Finance
05:36 Impermax
06:07 gTrade
06:55 Augur
07:51 Idex
08:35 Aavegotchi
09:32 Decentral Games
Ethereum can get slow and expensive. That’s because its consensus mechanism for securing the blockchain is based on an auction model. Users bid against one another to have their transactions included in the next block. This is why, once the network gets too congested, fees skyrocket.
And that’s how you end up with, say, a face value price of 20 bucks to mint an NFT, but incurring an actual cost of a hundred bucks in gas fees. (In other words, would you pay 4 dollars for a coffee if the transaction fee was 5 times that? I didn’t think so either.)
Enter Layer 2 scaling.
There's a chance you've heard of other Layer 2 scaling solutions, like Arbitrum and StarkWare (zk-STARKs). So what makes Polygon stand out from the rest of the major scaling and infrastructure development solutions?
Well, Polygon is the first L2 solution with an actual native token, MATIC. And why does that matter? Because you can stake it to help secure the network, all the while enjoying awesome rewards and low fees, as well as being eligible for potential airdrops in the future.
Oh, and this does mean that some of these DApps are available on Ethereum as well as on other chains. That they feature on Polygon with negligible gas fees and insane speeds is why we chose to include them here.
🔔 From crypto news, to market moves, and to educational how to videos. If you want something more than just hype and to actually learn about crypto, make sure to hit the subscribe button right now and turn on notifications to not miss out on new videos!
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On today’s CoinMarketCap episode we take deep dive into the Top Polygon Projects
02:42 JellySwap
03:20 QuickSwap
04:13 Opacity
05:01 Mai Finance
05:36 Impermax
06:07 gTrade
06:55 Augur
07:51 Idex
08:35 Aavegotchi
09:32 Decentral Games
Ethereum can get slow and expensive. That’s because its consensus mechanism for securing the blockchain is based on an auction model. Users bid against one another to have their transactions included in the next block. This is why, once the network gets too congested, fees skyrocket.
And that’s how you end up with, say, a face value price of 20 bucks to mint an NFT, but incurring an actual cost of a hundred bucks in gas fees. (In other words, would you pay 4 dollars for a coffee if the transaction fee was 5 times that? I didn’t think so either.)
Enter Layer 2 scaling.
There's a chance you've heard of other Layer 2 scaling solutions, like Arbitrum and StarkWare (zk-STARKs). So what makes Polygon stand out from the rest of the major scaling and infrastructure development solutions?
Well, Polygon is the first L2 solution with an actual native token, MATIC. And why does that matter? Because you can stake it to help secure the network, all the while enjoying awesome rewards and low fees, as well as being eligible for potential airdrops in the future.
Oh, and this does mean that some of these DApps are available on Ethereum as well as on other chains. That they feature on Polygon with negligible gas fees and insane speeds is why we chose to include them here.
🔔 From crypto news, to market moves, and to educational how to videos. If you want something more than just hype and to actually learn about crypto, make sure to hit the subscribe button right now and turn on notifications to not miss out on new videos!
🔵 Coin Market Cap is the world's most-referenced price-tracking website for cryptoassets in the rapidly growing cryptocurrency space. Its mission is to make crypto accessible all around the world through data and content.
📲 Download our app!
IOS : https://apple.co/3dOkokH
Android : https://bit.ly/3gHyJkS
🤝 Join CoinMarketCap!
https://bit.ly/3dVaEoS
Follow CoinMarketCap on social!
https://twitter.com/CoinMarketCap
https://www.facebook.com/CoinMarketCap
https://www.instagram.com/CoinMarketCap
https://reddit.com/r/CoinMarketCap
https://t.me/CoinMarketCap
📩 Subscribe to our Newsletter!
https://coinmarketcap.com/newsletter/
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Francisco Gimeno - BC Analyst This week we have witnessed issues with Layer 1solutions like Solana, Ethereum and meme coins. But the strong narrative now is Layer Scaling 2 Defi solutions, and Polygon the leader. The gurus say this is because Polygon has its own native token, with a lot of optimal consequences when working with and inside it, at. low cost and excellent speeds. Too good to be true? Well, check this podcast with the best Polygon's Projects and let us know your opinion.