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what is the difference between ethereum and polygon

Should I use Ethereum or Polygon?

Polygon is the best blockchain to launch an NFT project with high-frequency and low-value transactions. On the other hand, ETH is the best blockchain NFT project with low frequency and high-value transactions. Hence if you are launching between 7,000 to 10,000 NFT arts, I'll suggest you consider launching on Polygon.

Why is Polygon cheaper than Ethereum?

Even so, Polygon is far cheaper than Ethereum. The reason behind this is the calculation of gas fees since Ethereum is calculated in ETH while Polygon is done in MATIC. Thus, transferring 1 unit of the native currency, even at a low transaction cost of 7 Gwei on Ethereum, can go up to $0.62.

Is Ethereum or Polygon better for OpenSea?

Ethereum performs only 13-15 transactions per second. Polygon performs 50000-60000 transactions per second. OpenSea consists of the whole host of gas fees related to using Ethereum. There are gas fees associated with Polygon on OpenSea.

Is Polygon Matic better than Ethereum?

Polygon is not only several times faster than Ethereum 2.0 but also significantly cheaper. The founders of Polygon and former Ethereum developers soon realized that Ethereum, being slow and expensive, cannot deal with real-life scenarios.

Is it better to use Polygon on OpenSea?

Final Verdict. No single token is better than the other here. Both have their practical uses and applications. Besides that, polygon supports bridging, which allows you to use Ethereum and Ethereum-based currencies on OpenSea without problems.

Can Polygon exist without Ethereum?

So Polygon was built to act as an adapter between the Ethereum network and other protocols. This adapter can be used by developers to connect their own blockchains and decentralized applications to the Ethereum ecosystem. The advantage: They can use the Ethereum platform without needing the Ethereum blockchain.

Is there gas fee on Polygon?

The gas fee of the Polygon Matic network usually moves from $0.0005 to $0.2 and has been rising. In fact, crypto analysts say that the Polygon Matic gas fee might go back to $0.1 in the coming months.

Should I bridge to Polygon on OpenSea?

In order to spend your Ethereum currencies on Polygon, you must first bridge them from the Ethereum network (ETH) to the Polygon network (PoS).

Is my Polygon address same as ETH?

Both polygon and ethereum use the same format for wallet addresses, and with the same private key you could sign transactions for both chains.

Can a Polygon replace Ethereum?

The already existing partnerships and successful products are one reason why Polygon should not become obsolete with the introduction of Ethereum 2.0. Apart from that, according to the current knowledge, Ethereum will not be able to reach Polygon's top speeds and prices even after the update.

What’s better Solana or Polygon?

While Ethereum killer – Solana provides major competition to the ETH platform, Polygon is just a step behind. The SOL blockchain provides much faster transactions at a reduced cost when compared to Ethereum and Polygon. However, Polygon came up to provide faster transaction speeds.

Does Polygon have gas fees?

The gas fee of the Polygon Matic network usually moves from $0.0005 to $0.2 and has been rising. In fact, crypto analysts say that the Polygon Matic gas fee might go back to $0.1 in the coming months.

Is Polygon undervalued?

Polygon is, therefore, full of promise and this is the primary reason why we believe it to be among the best-undervalued crypto. In the next few years, and as the adoption of blockchain technology gathers pace, we expect Polygon to be one of the most sought-after L2 scaling solutions.

Why is Polygon faster than Ethereum?

Polygon was created to make transactions faster for Ethereum clients. The average time for Polygon transactions is 4 minutes on average, making it much quicker than Ethereum which takes 10 minutes.

How do you avoid gas charges on a Polygon?

3:196:25How to Avoid Ethereum Gas Fees With Polygon / MATIC – YouTubeYouTube

How do you pay gas on Polygon?

To interact with Polygon network, MATIC tokens are required to pay as gas fees. On the Polygon chain, the Matic tokens works as native token. This means that a user can pay gas with MATIC as well as send MATIC to other accounts same way as they use ETH to pay gas fees on Ethereum and send ETH to others.

Does it cost to bridge ETH with Polygon?

When using a validator-driven bridge such as Polygon Bridge V2 to transfer assets from the Ethereum network to the Polygon network, costs of anywhere between $400 and $600 are not unheard of. It is also very slow, again, due to the validation process.

Can you use ETH on Polygon?

Polygon is a blockchain that provides scalable, secure, and instant transactions with Ethereum currencies such as ETH, USDC, and DAI. In order to spend your Ethereum currencies on Polygon, you must first bridge them from the Ethereum network (ETH) to the Polygon network (PoS).

Can I send Polygon to ETH wallet?

The PoS Bridge is recommended for transferring tokens from Polygon to Ethereum. It supports the transfer of Ether (ETH) and other Ethereum tokens, including ERC-20, ERC-721, ERC-1155, and more. 3. After selecting the token, enter the amount you want to send and click [Transfer].

Is Polygon the Ethereum killer?

While many blockchains attempt to become the next “Ethereum killer”, Polygon aims to become an “Ethereum saver”. Polygon is an independent protocol that has its own decentralised blockchain network.