POLYGON (MATIC) - Ethereum's Internet Of Blockchains Explained - Layer 2
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- Опубліковано 12 чер 2024
- So what is Polygon, previously Matic, all about? How will it help with scaling Ethereum? Why does it claim to be Ethereum’s Internet of Blockchains? And why is it sometimes compared to Polkadot and Cosmos? You’ll find answers to these questions in this video.
Before the rebranding to Polygon, the project was known as Matic or Matic Network.
Matic was started in 2017 by 3 founders who were active participants in the cryptocurrency community in India and decided to band together and tackle Ethereum’s scaling problems.
The team worked on 2 main solutions: Plasma Chains - a layer 2 scaling solution based on Matic’s implementation of Plasma and a PoS Chain - a Proof-Of-Stake Ethereum sidechain.
The token behind Matic Network - MATIC - was distributed through the Binance Launchpad’s initial exchange offering in April 2019 and the team was able to raise $5.6M.
After over 2.5 years of work, The Matic Network Mainnet went live in mid-2020 and quickly started attracting more and more attention. This was supercharged by the increasing gas fees on Ethereum that showed an urgent need for finding robust scaling solutions.
At the beginning of 2021, the Matic team decided to expand the scope of their project and rebranded themselves to Polygon.
Polygon aims at creating a more generalised scaling solution.
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matic price prediction please
Who do I yell at for the gitcoin UX? The donation checkout is trapped below an infinitely loading feed of contributors
@@omnijack maybe try pinging the team on Discord or Twitter. I know they are fighting with some scalability issues in this round.
You should do a video on Telos. They’re scaling solution will have a impact on the market.
Hey mate, may I use this animations of your video to explain polygon in German?
I need a video explaining this video.
so you are dumb like me..
@@vigneshprabhu5075 Oh, you’re probably much smarter
Much much smarter apparently 😂
😅
Bro. We are smart that we are finding these video😅
I am a blockchain engineer that develop on Matic and I like your explanation :)
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)
Help me please i have a hodler wallet and someone sent me $ and i cannot figure out how to get it off
@@zackbulow4026 having said that, do you think it'll hurt polygon's growth over the time?
He draws perfect circles...everytime.
🎯
you mean the computer animation program he's using draws a perfect circle...? lol
@@zachschack I think you got outplayed by sarcasm xp
What kind of sorcery is that??!
@@Finematics every time!!
Polygon will be huge they are only getting started 🚀🚀🚀
Yeah less than half of the coins aren't in circulation.
Just hit $1
It's up to 1.32 today
how do you know they will do good?
1.79 today
Dude your channel is so amazing, so educating that it helps me with my own. Please never stop posting
Thanks a lot! :)
@@Finematics your subscribers should be at least 500k, I mean it, you will reach there.
Same!
I’m too dumb for this but it sounds lit
Fo sho
Pretty much where I am on this, but I'll figure it out.
Says it’s helping
All is lit 🔥 who holds
Yeah exactly how I felt
This explanation of Matic just blew my mind. I suddenly understand blockchain. 😅 Thank you.
ua-cam.com/video/j4g6nGukQoQ/v-deo.html
I'm a "developer" and went to polygon's site, was like can you draw me a picture? TYVM for putting this together :)
just bought some Matic because of this video as it makes sense now.
This is the way.
@@81065239 This is the way.
@@81065239 this is the way.
The way is this.
@@metaljar021 The way, this is.
Polygon matic is the future 💚
This is what I'm looking for.... A perfect draw with explanation.... Ty
Glad it was helpful!
This is my new favorite channel.
thanks! 🙌
From India 🇮🇳🇮🇳🇮🇳... Nice content .. Thanks for the vdo buddy
Most educational channel I've found
thanks!
One of the best channels that explain complex concepts using drawings :)
Thanks for clearly explaining the polygon project. I enjoyed it all.
Nice work! Now I understand Polygon better. Thanks. Keep up the good work!
Thanks. Glad it helped!
This video helped me find the inspiration to secure the bag and we are up over 100% the last two days thank you
Great video. Polygon is spreading its roots far and wide in the Ethereum ecosystem.
Love The Polygon team
Polygon ((Matic) building a polkadot for ethereum & daily new projects moving to layer 2 polygon- it will save ETH
Same here
@Max Herbst definitely
The only downside is that there are not more of these great video on you channel
Great content! You do the best shapes and the best arrows!
Excellent video explanation of polygon !
Polygon will be really huge & you really helped understand it better
Glad it was helpful! :)
it's impressive the research you do to make your videos, congrats!
ua-cam.com/video/j4g6nGukQoQ/v-deo.html
Excellent video man, finally I (kind of) understood why matic is a big deal.
Nicely explained great Matic catch up, very 😎
amazing video. The explanation is very clean, well done.
excellent presentation!! 👍🏾
the graphics were extremely helpful. Thanks for establishing the connections to the Graph and Chainlink.
Glad it was helpful! :)
Another great and informative video. Thank you
Thanks. You're welcome!
Thanks. Learned a lot.
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
So informative as always, thnx
glad to hear! :)
Very good explanation, thanks a lot for the video!
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!!
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?
Another great video 👍
Very informative. Thank you.
thanks!
Brilliant, brilliant, brilliant!
I explored Polygon's website and read their white paper and still don't understand, but your video I understand 👏.
Dude, this was some information!!
thanks!
I’m buying more. It’s definitely going to skyrocket soon.
Same here !
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
congrats its nearly tripple now as of 4/30
@@elitedaimond8232 Yep I’m retiring in 17 days :)
this aged well
Great detailed explanation. Very informative
thanks!
Wow this blew me away - big things poppin
Very very good video, incredible job. You deserve 1 million+ subscribers. Keep it up your well on the way my friend!
Thank you! 🙌
@@Finematics no thank you!
Thanks for making great content!!
You're welcome! :)
Amazing video as always! Could you make a follow-up video talking more about Polkadot and Cosmos?
Thanks! Sure, I will get to them soon :)
Would love a video on Chainlink!
yeah , this is good stuff. big time. Ivan on tech and this ....great stuff
My Sensei is the best! Thank you for the lesson!🙏🏽 Polygon has future!
another amazing Video
thanks!
I’m so glad to have found you. Just subscribed
thanks!
Excellent
Super undervalued for a newly listed coin on coinbase
Top 20 is inevitable 🔥
thanks for the video!
Well explained
Incredible video.
Thanks! :)
Holy fuckballs the explanations on this channel are so clear. Thank youuuu
BRILLIANT! as always! Thanks Finematics :,)
Love this channel. Can u do a video about , which is supposed to launch soon? Or did u already did one 🧐
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
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!
it is complicated. Thank god it works.
Beautiful!!!!!!
thanks!
Brilliant
This video for smart guys.
Will polygon become obsolete after ETH 2.0 launches ?
Good question ....
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
Yes
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/
MATIC will be top five by market cap soon.
No cap! 😉
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.
awesome, thx
Thank you!!!
From now on I'm more than bullish on polygon 🤗
nice upgrade
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.
Thanks
So if the security mechanism leverages Ether miners, some of the hashing i am doing is re-hashing polygon blocks back onto the main Etherium chain depending the type of validation or block protocol involved? Others are done by POS machines?
great job!
Thanks!
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.
👆🏻
He is a magician
Watching this to reassure myself as I buy the dip 😅
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
@@Finematics that's great to hear, thank you for replying! I'm sure the Bancor community would love a V2.1 vid 😁
When ever you say *plasma* I think of that ammo type found in Doom.
Ox polygon (Matic) is an great innovative projects. It would a huge.
Dope Channel !!
Plz do a video on Celsius network and cel token if possible 🤓😬😬😬😬
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
thank you! :)
W
Well in one word, yes.
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...
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
ETH layer 2 i.e. MATIC can be communicate (transfer/receive assets) with BSC, DOT, ADA chains ?
Please make a video on Polkadot (projects) and Solana (projects)
He is good at colouring
Future! Heard it from ThirdEyeCrypto
Can you do one focused on DOT and ADA as well?
They are coming soon :)
@@Finematics can’t wait. Very great content
@@Finematics and on Solana too please. 😀
Is Polygon able to connect with the Cosmos IBC and offer this scaling solutions in that ecosystem?
At 12:53 isn't it supposed to be layer 2 instead of layer 1 blockchains?
Not sure if you have , but an updated video on Polygon in relation to ETH 2.0 seems in high demand.
Also, does Polygon have competitors ?
Does launching on Matic break composability?
Question: will Polygon scaling solutions be obsolete once ETH 2.0 introduces sharding?
i sharded