Polygon’s Layer 2 technology is widely being adopted in several industries.

Its scalability solutions, coupled with low gas fees and efficient transactions, have opened the doors for Polygon to be utilized in unlimited scenarios.

The following is an overview of Polygon’s use cases.

Transactions

Polygon provides an instantaneous and effortless mode of transactions for DApp developers and merchants.

Its functional application programming interface (API) allows payments to be transferred and received almost instantaneously in any cryptocurrency.

This form of transaction is not only efficient, but it is also highly secure and reliable as payments are made and received on both ends after contractual obligations have been met, allowing for a smooth, risk-free transactional process.

Gaming dApps

Due to high latency and poor transaction speed, blockchain-based games tend to lag behind traditional PC/console-based games.

However, with Polygon’s Commit Chain scaling technology, games can run smoothly on the blockchain network.

Since Polygon contains lower traffic and redistributes transactions to different chains to avoid congestion, it is the perfect network for gaming dApps that require a lag-free smooth, sailing user experience.

DeFi

Polygon is a newly emerging giant in the growing DeFi industry.

In just a few years, the thriving blockchain network has accumulated a TVL (Total Value Locked) of about $5 billion in Decentralized Finance. Considering Polygon’s exponential growth in DeFi, it can be inferred that it will soon catch up to its competitors.

Two leading DeFi giants have also recently embraced Polygon, further signifying its path as a future DeFi titan.

Non Fungible Tokens

Polygon is becoming a mecca for NFT markets due to its low gas fee and convenient and secure transactional process.

By configuring a Metamask and paying a low operational fee in MATIC, it is possible to create, mint, buy and sell NFTs on the Polygon chain alone.

Lending Site

https://www.techcommanders.com/blockchain-courses

Through Polygon, merchants can assess users’ credit scores on the platform by reviewing their transactional histories. This allows merchants to make informed decisions regarding their platforms and their users. Polygon has established significant connections with major players in lending protocols. Aave, for example, has invested 8000 of its users worth $1 billion liquidity on its Polygon markets, marking a major milestone for Polygon’s future as a lending platform.

DEXs

Polygon has been a pioneer in expediting the establishment of DEXs (Decentralized Exchanges)  to offer users faster, economical trading opportunities.

Some of Polygon’s own DEXs like Quickswap, Dfyn, and ComethSwap have seen high volumes and user activity in recent years.

Polygon, with its rapidly developing solutions, can potentially be the central base for DEXs in the near future.

Ethereum Compatible Blockchains

Polygon facilitates the development of Ethereum-compatible networks and blockchains.

DApps can be built at an affordable cost with low gas fees and low congestion on Polygon and run on Ethereum as Polygon is an Ethereum Layer 2 solution; therefore, dApps and blockchains developed through it are compatible to function on the Ethereum network. \

Transactional fees for development can be paid through MATIC. In recent years many merchants, developers, and teams have moved to Polygon to develop Ethereum-compatible projects.

Continuation in this direction could give Polygon access to users from its biggest competitor, Ethereum.

Cloud InterviewACE.

The best way to pass the Cloud Computing interviews. Period.

Cloud InterviewACE is an online training program & professional community mentored by industry veteran Joseph Holbrook (“The Cloud Tech Guy“), a pre/post sales guru in cloud. 

Learn to pass the technical and even soft skills interviews from the starting basics to advanced topics covering presales, post sales focused objectives such cloud deployment, cloud architecting, cloud engineering, migrations and more. resume tips, preparation strategy, common mistakes, mock interviews, technical deep-dives, must-know tips, offer negotiation, and more. AWS, GCP and Azure will be covered. 

Find Out more about Cloud InterviewACE from TechCommanders

Fast-track your career now!  

This changes your world, what are you waiting for!

We are TechCommanders…

experts in Next Generation Technology Training. 

TechCommanders is an online training platform for both aspiring and veteran IT professionals interested in next generation IT Skills.
TechCommanders is led by Joseph Holbrook, a highly sought-after technology industry veteran.

TechCommanders offers blended learning which allows the students to learn on demand but with live training.

We love that you’re enjoying the cool stuff here. Our legal consultant tells us we should let you know that you should assume the owner of this website is an affiliate for people, business who provide goods or services mentioned on this website and in the videos or audio. The owner may be compensated and should be if you buy stuff from a provider. That said, your trust means everything to us and we don’t ever recommend anything lightly. Thank you