Polygon is a multichain system that helps launch tokens, blockchains, smart contracts, and decentralized apps. The platform has a high bandwidth and extra-low transaction fees. Furthermore, it is compatible with Ethereum and various tools for developers. This article will tell you how Polygon works, its features in project launches, and how to find a Polygon developer.
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Polygon blockchain review
Polygon (former Matic) was initially a second-level solution designed to boost the work speed of EVM compatible smart contracts and dapps within Ethereum’s network. Since last year, the project heads have decided to focus their efforts on developing a multichain system like Polkadot. They’ve also rebranded from Matic to Polygon, yet the token name remained the same.
Due to changing its focus, Polygon is now something more prominent than another platform for dapps and smart contracts.
Furthermore, the Polygon team developed rich instruments for developers to enhance the development speed of new projects and make them more cost-effective. However, it is not that extensive compared to Ethereum, yet Polygon constantly works on it and adds new solutions. According to Alchemy, a leading platform for Web3 developers, the number of dapps on Polygon grew six times higher, from 3 000 in October 2021 to 19 000 in May 2022.
- Firstly, it is a second-level platform for scaling solutions compatible with Ethereum. Thus, the transaction processing speed is significantly faster, and fees are much lower.
- Secondly, Polygon allows the developers to launch their tokens, blockchains, smart contracts, and dapps with advanced modules that help deploy interconnected blockchain networks with adjustable functionality and architecture.
- Thirdly, Polygon is a hub for different blockchains that allows the creation of solutions launched on one blockchain, taking information and processing information on the other and passing it to the third blockchain. Put simply; Polygon aims to create an internet of blockchains.
Four-layer architecture on Polygon network. Source
The polygon architecture has four layers
Ethereum layer. It is an optional layer. Smart contracts, dapps, and chains on Polygon can use Ethereum as the fundamental layer to integrate its security. Polygon implemented this layer as smart contracts on ETH, so it can be used for launching checkpoints, staking, arbitrage, and message retranslation through smart contracts compatible with Ethereum.
Security layer. It’s also a non-mandatory layer. Its main task is to provide the validation service. Basically, it means that dapps can use validation networks to verify their transaction for a certain fee. This layer is implemented as a meta-blockchain that functions parallel to Ethereum. Moreover, this layer can be deployed on Ethereum and used by miners for smart contract validation and dapps on Polygon.
Polygon networks layer. It is an imperative layer that provides a network environment for sovereign chains of blocks with their communities. The community is the ones who are responsible for verifying transactions, creating new blocks, and ensuring local consensus.
Execution layer. This is the executive level for implementing the Ethereum Virtual Machine on Polygon for processing smart contracts.
Polygon development instruments
The central piece of the Polygon platform is the Software Development Kit (SDK) module packet. It allows the development of smart contracts, dapps, and other Polygon infrastructure elements relatively easily and quickly.
Furthermore, if developing solutions on Polygon, there are another two system options compatible with Ethereum, namely independent networks and protected networks that use the Security as a service (SECaaS) model. Autonomous networks provide their security through a consensus algorithm and a validation network. These networks can be flexible and independent, yet they damage the security since the protection requires many validators. These models are perfect for projects with numerous users and corporate platforms.
Protected networks are different. These networks provide the security directly through Ethereum (for example, using the fraud proofs on Plasma) or by employing a pool of validators. This approach allows chains to supply a high level of security, yet the independence and flexibility slightly suffer. Usually, this approach is excellent for solutions that prefer high privacy.
- Sidechain networks linked to PoS, Plasma, and Ethereum.
- Sidechains that employ ZK Rollups and solutions for providing maximum privacy with minimum damage to speed.
- Private chains focused on entities or companies.
- Sidechains employing Optimistic Rollups.
- Interoperable sidechains.
- Autonomous sidechains.
Matic Plasma Chains and Matic PoS Chain
Matic Plasma Chains is an integrated Polygon framework for launching scalable dapps using Plasma transactions. Plasma is a Lightning Network (LN) analog created for Ethereum’s network by Joseph Pun and Vitalik Buterin. Users can employ Plasma to generate a channel outside the main blockchain. It allows them to process transactions without approving them in the leading network. As a result, these transactions are much faster, while the commission is super-low. It will require approval only after the channel is closed.
Matic PoS Chain is a Polygon sidechain that allows transferring Ethereum compatible smart contracts to that sidechain and launching them within the Polygon network. As the title says, Matic PoS Chains employs the Proof-of-Stake algorithm to reach consensus, yet it also has its validator network.
The advantages of the development of Polygon
Over the past year, Polygon has arguably become the leading platform for Ethereum scaling and infrastructure development. The platform has been able to gain the trust of developers, businesses, and ordinary users because of the advantages that Polygon allows to make Web 3.0 a reality.
Here are just some of the benefits of the Polygon network:
- Low transaction fees. Thanks to different scaling technologies, transaction fees on the Polygon network are 50 Gwei ($0.0001) for minimum priority transactions, 60 Gwei ($0.000117) for medium priority, and 140 Gwei ($0.000275) for maximum stress. In comparison, on the Ethereum network, transaction fees range from $10 to $100.
- Speedy transactions. In addition, the Polygon network can process up to 65,000 transactions, and the block creation time is about 2 seconds. Whereas now, Ethereum can process 13-17 transactions per second, and a block is formed within 12 seconds on average.
- High scalability potential. This is another advantage of the platform, which Polygon achieves thanks to sidechains and the Plasma protocol, allowing lightning-fast transactions.
- Quality infrastructure support. When launching their project on the Polygon network, developers can use the decentralized cloud storage in Akash Network, RPC providers, and special packages for developers in Tenderly, Gelato, Certora, and other similar solutions.
- Venture funding and LP. Developers of Polygon custom solutions can get financial support through the Polygon investor network and market maker partners.
- Access the PolyBuilders network. Join Polygon's internal group of developers, Discord partners, etc., to learn about synergies and get help (informational and technical) with other teams.
- Technical help. Polygon has a well-established support service for developing custom solutions. Anyone can get in touch with the platform's in-house developers to get advice, guidance, or instruction on all sorts of aspects of the network. Communication is available via Telegram.
- Analytical Support. You can use Dune Analytics dashboards to understand your users better. This toolkit has a great community, creating many handy dashboards that Dune Analytics has integrated into its platform.
- Marketing support. Polygon startups can promote their projects through Polygon's media partner channels: AMA, Twitter Spaces, and many others. In addition, they can also collaborate directly with Crea8r DAO, one of the best content creation communities in the blockchain sphere.
Polygon vs. Ethereum vs. Solana comparison
Polygon employment examples
The Polygon Network has extensive features and use cases. For example, you can connect payment systems, DEX, AMM, and other applications very cheaply, thanks to Polygon. Or launch DeFi projects on Ethereum, payment systems, atomic swaps, liquidity pools, DEX, AMM, and other solutions for which speed, low fees, and a high level of security are important and easy development a good level of support.
For example, Polygon-based projects such as AAVE, Curve, QuickSwap, 1inch, SushiSwap, RenVM SportX, Beefy Finance, Pooltogether, bZx, Augur, Ocean Protocol, Clover Finance, and many others are already launched. Of the lesser-known projects, the following solutions can also be mentioned:
- Bridges: ChainX, Darwinia, Ren, Interlay.
- Identity validators: Litentry, KILT protocol.
- Privacy: LayerX, Phala Network, Gunclear.
- Oracles: ChainLink, Kylin Network, PolkaOracle, ZK Oracle.
- DeFi smart contracts: MathChain, Acala Network, Altair.
- NFT: Banksy Finance, Chads.VC, NFTMart.
How to hire a Polygon developer?
In particular, blockchain-based development and Polygon require hiring highly skilled professionals who understand the technology and have experience working with it. Here's a simple guide on how to find them.
Step 1: define the concept and targets
: understand clearly what kind of project you need and its purpose.
you work through your project concept, define your business goals and objectives and analyze your niche, target audience, and competitors. All this will give you a clear understanding of what kind of product you need to create, and based on that; you can start looking for a Polygon development company.
Step 2: compile a long list of developers
: make a list of developers who can potentially make the software you require based on Polygon.
You search ads on sites like Clutch.co, Goodfirms.co, Upwork and Toptal, social networks LinkedIn and Facebook, and freelance platforms specializing in blockchain and cryptocurrency: Orbi Network, Blocktribe, Crypto.jobs, Cryptojobslist, Beincrypto, and others. You are looking for companies that have the qualifications and experience you need.
You don't just look for developers but for teams that have experience running applications on Polygon and have expertise in your niche. For example, if you want to launch an NFT marketplace, you need a technology partner with many experiences in blockchain and NFT development, like Merehead.
Step 3: make a shortlist of developers
: reduce the long list to a shortlist.
you contact the companies on the shortlist and tell them your project idea, then they describe how they can close your need and help you figure out what's unclear. Based on your responses, you narrow down the long list to a few of the best companies and ask them to send you a commercial proposal. They should take at least three days.
Step 4: study the offer
: Study commercial proposals.
You call the short-listed companies or arrange a personal meeting to have them do a short presentation of their business proposal; usually, it takes an hour or two.
Step 5: choose a technical partner
: to start developing your application.
: You analyze the remaining developers and make a final choice. With the selected company, you once again discuss the terms of cooperation (tasks, requirements, deadlines, cost, etc.) and then sign a development contract. After that, the development begins.
Why is Merehead worth hiring?
As a leading blockchain, cryptocurrency, and Blockchain, DeFi, and NFT development company, our team offers extensive and comprehensive support to launch any Polygon blockchain-based solution, from simple, smart contracts to logistics platforms for tracking the supply chain of goods and services.
What Polygon development services Merehead offers:
- Network startup. Our company provides the implementation of two types of Polygon chains: standalone networks and secure networks with SECaaS.
- Development of dapps. We provide Polygon dapps development services for your projects spanning DeFi, NFT, Gaming, and DAO. We also offer migration services to the Polygon ecosystem for dapps deployed on Ethereum or any other EVM chains.
- Cryptocurrency wallet development. We can create a wallet for you in the form of a mobile app, desktop program, and web interface. We can also develop a Polygon-enabled hardware wallet for you.
- Smart Contracts Development. Having experience with Polygon SDK, Solidity, and Vyper programming languages, we create smart contracts characterized by flexibility and compatibility with Ethereum. The smart contracts we make have all the benefits of Ethereum and the modularity, connectivity, and scalability of Polygon.
- NFT Marketplace Development. We can create a platform for you to trade non-interchangeable tokens compatible with Polygon, Ethereum, and other blockchains.
- Corporate solutions. Our team can also help you integrate Polygon technologies into your business, such as financial transactions, supply chain tracking, etc.
Reasons to hire Merehead
Security and reliability
Our Polygon-based solutions have a high degree of protection against hacker attacks, DDoS attacks, and other malicious actions.
We offer competitive prices that allow you to implement your idea for an acceptable price, without overpayments and unreasonable payments.
We have been developing various solutions in FinTech, Blockchain, DeFi, Game-Fi, and NFT since 2015.
Our company is interested in the success of its customers, so we provide comprehensive support for the products we create.
Regular reports and constant communication with the development team allow our customers to monitor the development and promptly make the changes they need.
Step 1 Discussing the project.
Our experts study the client's vision and goals to determine technical requirements and create a development plan.
Step 2 Designing the wireframes.
After understanding the client's specific needs for the project, we create and approve the architecture and design of the application.
Step 3 Developing the software.
At this stage, programmers make the backend and frontend of the software product based on the Polygon network.
Step 4 Testing the product.
After the development phase, the team begins testing and quality assurance of the created product.
Step 5 Deploying the application.
After testing, we move on to rolling out the software product on the Polygon network and releasing the final product to the market.
Step 6 Servicing the application.
At this stage, the team solves any problem after deploying the application and provides post-release support.
Our recent projects
- it is a platform for selling sports NFTs using ERC-1155. All tokens are issued in cooperation with sports teams and players or their official representatives.
- this BaaS platform provides freelancers and enterprises with a solution to manage and transfer their digital assets, create smart contracts with integrated escrow features, and take a loan with cryptocurrency collateral.