Polygon is a Layer-2 (L2) scaling solution designed to improve the adoption of the Ethereum blockchain.
Ethereum has quickly become the go-to blockchain for decentralised application development. It has facilitated the creation of much of the cryptocurrency industry we see today. However, due to its current proof-of-work consensus mechanism, Ethereum suffers from network congestion, slow transaction speeds and low throughput. This has often led to high transaction fees (gas fees) for users.
Polygon, originally known as Matic, solves these issues by offering a platform where developers and consumers benefit from L2 scaling solutions.
Article written by Sarah (Dizzy Dinos Community Manager)
I think we can all agree that the Ethereum gas fees as of late have been absurd. High gas hurts the consumer, and takes away consumer funds that could otherwise be used to buy more NFTs. In my own experiences, high gas fees have prevented me from being able to mint or purchase an NFT on numerous occasions. POLYGON SOLVES THIS PROBLEM. Polygon essentially ELIMINATES ETH GAS FEES. The ONLY gas fees you will have to pay is when you transfer your ETH to the Polygon platform (Opensea makes this super easy). This allows you to CHOOSE when you transfer your ETH to the Polygon platform, and choose a time when gas fees are low. Then, once your ETH is on Polygon, NO MORE GAS FEES. Seriously.
For example: If I know that I want to mint a Dino in 1 week, that means I have this entire week leading up to the mint to transfer my ETH to the Polygon platform (allowing me to choose a time where gas fees are low). Let’s say I know the mint is on a Friday evening and there’s a fuck ton of mints happening at that time- gas is going to be through the roof. BUT if I already transferred my ETH to the Polygon platform on Tuesday when gas was only $30, I'M GOLDEN. Then I can mint my Dinos and won’t be subject to the ridiculous gas fees happening at the time of mint. Pretty dope right?
Yes, absolutely. You can transfer your ETH to Polygon at any time, but you will be subject to whatever the ETH gas fees are at that time. SO IF I WERE YOU DINOS, I’d have my ETH transferred to the Polygon platform ahead of the mint. Who wants to pay $200 in gas fees smh. We chose Polygon for YOU guys, for the Dinos, so we can all have a better and less expensive minting experience. If any Dinos are still unclear on anything, feel free to message myself or any of the other mods! Always happy to help!
Never was it so cool to own a digital asset. Dizzy Dinos' holders can take benefit of so much more than just a digital artwork.