One of the most common roadblock ethereum blockchain developers face is the extremely high transaction fees. Generally it costs hundreds of dollars to deploy an app to ethereum mainnet – if you are lucky, gas prices can be very volatile and can go up for arbitrary reasons. I would argue that this aspect of ethereum goes against the fundamental principles of cryptocurrency – ease of adoption and democratization as the cost of entry is simply too high.
Just deployed new (#ERC720 #nft) smart-contract on #ethereum. Cost $436 😅 You really need to be sure to have the perfect code, features, and security checks. 1 mistake/change will cost you a redeploy. Once people start using it no way back. Beautiful and scary at the same time. pic.twitter.com/Z6CGD0d22D
— Eric Khun (@eric_khun)
People have been considering potential solutions for scaling apps on Ethereum. Different projects have different needs, you may have to explore various alternatives available in the current blockchain ecosystem and can also implement multiple solutions to tackle the problem. New innovations in scaling are being constantly developed – let’s look at one of the most popular ethereum based full stack scaling network – Polygon.
Polygon is a blazing fast, secure and decentralised hybrid POS chain that behaves like a commit chain tethered to Ethereum. Polygon has a suite of scaling solutions such as zkRollups, optimistic rollups, shared security chains, standalone chains (Sidechains) – hence the name Polygon
Another huge plus of polygon is its backward compatibility with the tooling developer ecosystem that Ethereum developers are already using. With little effort you can deploy your smart contract to the polygon network with an average transaction cost of $0.00004. This can supercharge your user experience, and typically transaction costs are so low that developers absorb the costs on behalf of the users, truly pushing the frontiers of traditional web3 applications.
Polygon’s network has experienced exponential growth. Currently it has 3000+ dApps with over $10B+ of total value locked doing over $6M+ transactions every single day. Over 2B+ of its native token Polygon (previously known as matic) is staked for security. Polygon is fast emerging as the de-facto platform for NFTs, Gaming & Defi.
In this detailed video course, we first start with a basic understanding of the polygon ecosystem. Further we explore foundational topics such as :
- Matic.js: the javascript sdk for interacting with polygon
- Token bridge: a utility to bridge token between ethereum and polygon network.
- Creating and deploying your first smart contract
- Understand how meta transactions work
- Understand how to access off-chain data using oracles and push the boundaries of what a dApp can do.
At EatTheBlocks, our commitment is to empower developers to build mordern blockchain apps. Polygon is a great addition to the toolkit and we will continue bringing more content on Polygon.
About EatTheBlocks
EatTheblocks is an educational platform aimed to simplify the world of blockchain for developers. Through its platform we teach developers modern blockchain development on tooling to help people land their dream jobs.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, ~600M total transactions processed, ~60M unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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