Layer 2 Solutions
Gas fees on the Ethereum blockchain may have dropped, but that has not stopped an increasing number of decentralized fi nance (DeFi) users and developers from flocking to layer 2 solutions: ZKrollups and Polygon.
Recently, EGG opted to launch on the BSC as well as implementing L2 and allow its tokens to be ported to another project — Polygon Network (MATIC).
Users are incentivized to do this because it allows them to earn interest. Now, with an EGG on Matic, users can also trade and farm ERC20 or BEP20 tokens. With Polygon, transactions can be performed at higher speeds and at a lower cost than on Ethereum’s network. While EGG may have moved to Matic, the roles and the original EGG will still remain intact on Layer-1.
Polygon is actually powered by an Ethereum L2 scaling Plasma framework. The framework combines cryptographic verification and smart contracts, that enables cheaper and faster transactions than Ethereum itself can offer. This is achieved by having the transactions offloaded to sidechains or plasma chains, thus reducing the load on Ethereum.
Last modified 4mo ago
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