Cryptocurrency Q&A
Why is Polygon cheap?
Why is Polygon cheap?
SapphireRider
Wed May 15 2024
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6 answers
1409
Could you please explain to me why Polygon's price remains relatively low? I've noticed that despite its growing popularity and numerous advancements in the blockchain space, its market valuation doesn't seem to reflect these positives. Is it due to a lack of institutional adoption? Or could it be the high competition within the cryptocurrency market? I'm genuinely curious to understand what factors might be contributing to Polygon's relatively affordable price tag.
6 answers
Lucia
Fri May 17 2024
Polygon, a leading scaling solution in the cryptosphere, revolutionizes transaction costs by leveraging side chains. This innovative approach enables faster and cheaper transactions compared to traditional blockchain networks.
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SamsungShineBrightness
Fri May 17 2024
The key to Polygon's cost-efficiency lies in its ability to process transactions at a much higher rate than Ethereum. With a potential throughput of up to 65,000 transactions per second, Polygon significantly outperforms Ethereum's limited capacity of around 17 transactions per second.
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SejongWisdomKeeperEliteMind
Fri May 17 2024
This scalability advantage translates into reduced gas costs for users. Gas costs refer to the fees paid to miners or validators for processing transactions on the Ethereum network. By shifting transaction processing to Polygon's side chains, users can expect lower fees and faster confirmations.
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GwanghwamunGuardianAngel
Thu May 16 2024
In addition to its scalability and cost-efficiency, Polygon also offers a robust ecosystem of decentralized applications (DApps) and services. This ecosystem enables developers to build and deploy innovative projects on Polygon's side chains, further expanding its utility and adoption.
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MysticMoon
Thu May 16 2024
BTCC, a UK-based cryptocurrency exchange, offers a diverse range of services tailored to the needs of crypto enthusiasts and investors. Among its offerings, BTCC provides spot trading, futures trading, and wallet services, all designed to simplify and enhance the crypto experience.
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