123swap started using Polygon




123GOV and 123 SWAP - Crypto World News


123swap provides an ecosystem of services that provide clients with a one-stop-shop experience for exchanging, holding, sending, receiving, earning, investing, borrowing, and lending tokens across numerous networks.


The platform has refined its method of exchanging cryptocurrencies to address issues such as a convoluted interface, hidden fees, and a time-consuming registration procedure, among others, and simplify the process for the end-user.


123swap has collaborated with many uprising projects and will collaborate soon with many others. Polygon is one of the projects with which 123swap is cooperating now.


What is Polygon?

Polygon (formerly Matic Network) is the first well-structured, user-friendly Ethereum scaling and infrastructure development platform. Polygon SDK, a modular, adaptable framework that facilitates the development of many sorts of apps, is its main component.


The platform's goal is to build "Ethereum's internet of blockchains," or a multi-chain ecosystem of Ethereum-compatible blockchains. It intends to do this by offering a simple framework that enables developers to construct their unique Ethereum-compatible blockchain with a single click. Polygon envisions a system in which diverse blockchains may freely and quickly exchange value and information, eliminating the technological and ideological divisions that now exist across most blockchains.


The project was originally called Matic Network, but as the scope of the project broadened, it was renamed Polygon. While Matic was a straightforward layer-2 scaling solution for Ethereum, Polygon is the foundation for a network of massively scaling, collaborative blockchains that preserve their autonomy.


Why prefer polygon?


Polygon significantly builds on the original Matic Network project's aim and scope by giving developers a range of tools for creating ultra-scaling and high-performance blockchains and decentralized apps (DApps).

It is the only scaling solution on the market that supports the Ethereum Virtual Machine (EVM) and allows linked chains to maintain self-sovereign security while still maintaining interoperability with one another and the Ethereum mainchain.

Unlike some other platforms, chains in the Polygon ecosystem system are not required to use its security as a service layer, but can still communicate with one another via arbitrary message passing capabilities. This means that developers may create genuinely interoperable decentralized apps that can make use of the distinct capabilities of different chains at scale.

A more secure option:


Staking is an essential component of the Polygon ecosystem since it is a Layer 2 solution that uses a network of proof-of-stake validators for asset security. Validators on the network will invest their MATIC tokens as collateral to become a part of the network's PoS consensus process in exchange for MATIC tokens.


Members of the network who do not want to become validators can delegate their MATIC tokens to another validator while still participating in the staking process and earning staking rewards.


Polygon employs block producers at the block producer layer in addition to proof-of-stake checkpointing to create a higher degree of decentralization. Using checkpoints and fraud-proof techniques, these block producers provide finality to the major chains.


More info at https://123swap.finance/



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