Most other platforms suffer from low speeds, low throughput, and poor compatibility with other chains.
NEAR Protocol is built from scratch and has the following features to enable good scalability and security:
- NEAR uses a block generation mechanism called “Doomslug.” Doomslug allows practical or “Doomslug” finality, ensuring that the blocks receive finality in seconds.
- NEAR is a sharded system that allows for infinite scalability. It takes a unique approach to scale up to billions of transactions in a completely decentralized way instead of depending on centralized processes like other protocols.
What Is Sharding?
Continuing from the last point, let’s understand what sharding is. Sharding is a technique used in databases to handle bulky data.
one-time fees and recurring fees.
This includes an account initialization fee and token/contract approval fees.
These fees typically cost between $50 to $200.
Ethereum is the most popular blockchain where NFTs are launched.
When you mint or purchase an NFT, you need to pay gas fees.
Using an analogy—a car needs gasoline to work.
Similarly, gas fees are needed for an Ethereum transaction to execute.
These fees are used to reimburse miners for the energy needed to verify a transaction.
Gas fees will fluctuate based on how crowded the network is.
For example, if the network is congested due to the launch of a popular NFT collection, the gas fee will be higher.
- Ethereum is more popular among users, so more people are familiar with it.
Ava Labs will connect with Mastercard’s ecosystem of partners and digital players across the globe to expand and accelerate blockchain technology innovation, they said.
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On Sunday (July 7), which is when “International Friendship Day” is celebrated in the U.S., Coca-Cola announced that it is “thanking fans who’ve been a part of the brand’s journey into the metaverse over the last year with a special digital collectible drop.”
Polygon is “a decentralised Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing on security.” The Polygon Lightpaper describes Polygon as “a protocol and a framework for building an connecting Ethereum-compatible blockchain networks.”
On 18 May 2021, Independent Ethereum educator, investor and advisor Anthony Sassano took to Twitter to clear up some of the confusion around Polygon (e.g. some people refer to Polygon as a sidechain to Ethereum, while others call it an L2 blockchain).
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The fees include a one-time account initialization fee and token/contract approval. You also need to pay gas fees when you’re accepting an offer, transferring an NFT, buying an NFT, and more. That said, you always need to have sufficient ETH in your wallet.
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.
You can think of it as an alternative to Ethereum.
The problem with Ethereum is that it has high gas fees, no sovereignty, and it lacks scalability.
Polygon was created to fix these issues by utilizing sidechains.
Transactions on the sidechain are almost always faster and cheaper than transactions on Ethereum.
- No gas fees—creating and selling NFTs on Polygon has no gas fees.
Redditors will be able to earn Community Points by making contributions to a subreddit, such as creating and uploading valuable content, or volunteering to moderate the community, while selling, exchanging or trading the points are against the site’s rules.
Quadrant decided to utilize this chain to distribute Geolancer rewards in a fast and efficient manner.
On top of eQUAD rewards, Quadrant will introduce a brand new, Geohash-based NFT incentive system in the Geolancer app, possible only thanks to Polygon’s scalability. The most active Geolancer in each area can earn the title of Guardian, which, besides bragging rights, also grants them extra rewards.
Geohash is a geocoding system that allows the expression of a location anywhere in the world, and depending on the resolution, a single city can be divided into tens of thousands of Geohashes.
“Geolancer is an ambitious and technically complex project. To fix the POI data industry with manual verification, we needed a platform that can handle micropayments and tens of thousands of NFTs reliably and efficiently.
Polygon has gained a lot of traction over the last few months. With scalability being all the rage in the Ethereum community, it makes sense why layer-2 solutions like Polygon have gained such a large following. However, NEAR Protocol not only offers a highly scalable platform on the base layer, but it also provides a layer-2 experience that’s EVM compatible as well.
What Is Polygon?
So, to understand Polygon, let’s first look into layer-2. In the Ethereum network, the base Ethereum blockchain is known as “layer-1.” Decentralized networks prioritize security and liveness, which inevitably compromises the speed. The solution here is to build an additional network above the core blockchain called layer-2.
The blockchain delegates complex calculations to layer-2, which exponentially speeds up overall throughput.
Thus, bringing what could be one of DeFi and Web 3.0 dApps main obstacles for mass adoption.
Mihailo Bjelic, one of Polygon’s Co-Founders, said the following on the potential for ZK rollups development to grow for the benefit of the entire ecosystem:
One of the key missing components required to build highly scalable solutions has been performant recursive proof systems; they simply haven’t existed so far. This ends today. We are introducing a recursive proof system that is orders of magnitude faster than anything else and is practical to verify on Ethereum. This is a huge win for the entire industry.
Polygon To Lead Ethereum Into The Future?
In doing so, Ethereum can become more accessible and move forward in its objective of onboarding millions of users.
PoS Bridge wykorzystuje algorytm konsensusu Proof of Stake (PoS), aby zabezpieczyć swoją sieć. Obsługuje transfer Ether (ETH) i większości tokenów ERC. Jest to zalecana opcja dla większości użytkowników. Plasma Bridge jest przeznaczony dla programistów, którzy potrzebują zwiększonego bezpieczeństwa.