Day Trading Crypto π₯ Is Polygon Matic better than Ethereum?
195Day Trading Crypto | Matic Polygon | How To Trade Cryptocurrency
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Welcome to our Day Trading Crypto Video!
Matic Network, now known as Polygon, is a Layer 2 scaling solution built on top of the Ethereum blockchain. The main purpose of Polygon is to provide a faster, cheaper, and more efficient alternative to Ethereum by enabling higher throughput and faster transactions, while also reducing gas fees.
Polygon utilizes a technology called "Plasma," which is a Layer 2 scaling solution that allows for the creation of sidechains that can handle high transaction volumes without requiring each transaction to be recorded on the main Ethereum blockchain. This helps to reduce congestion on the main network and reduce transaction fees.
In addition to Plasma, Polygon also uses a technology called "PoS (Proof of Stake) checkpoints," which allows for the verification of transactions on the sidechains by a network of validators who are incentivized to maintain the integrity of the network. This helps to ensure that the transactions processed on the Polygon network are secure and immutable.
Overall, Polygon is designed to provide a scalable and efficient solution for developers and users of decentralized applications (dApps) on the Ethereum network. Its technology allows for faster and cheaper transactions while maintaining the security and decentralization of the Ethereum blockchain.
Ethereum is a decentralized blockchain platform that enables developers to build and deploy decentralized applications (dApps). It was created by Vitalik Buterin in 2015 and has since become one of the most popular blockchain platforms for developing and deploying smart contracts.
One of the key features of Ethereum is its ability to execute smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts eliminate the need for intermediaries, such as lawyers, and reduce the risk of fraud and manipulation.
Ethereum uses a consensus mechanism called Proof of Work (PoW) to validate transactions and add them to the blockchain. This process involves a network of miners who use their computing power to solve complex mathematical problems to validate transactions and earn rewards in the form of Ether (ETH), the native cryptocurrency of the Ethereum network.
However, Ethereum is in the process of transitioning to a Proof of Stake (PoS) consensus mechanism, which will use a different method for validating transactions and adding them to the blockchain. Instead of relying on miners, PoS uses validators who are chosen based on the amount of Ether they have staked on the network. This is expected to reduce the energy consumption associated with PoW and make the network more scalable.
Overall, Ethereum is a powerful platform for developing decentralized applications and smart contracts, and its popularity has helped to drive innovation in the blockchain and cryptocurrency space.
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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.
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β°Timestampsβ°
00:00 Crypto Trading For Beginners Project introduction
00:12 Crypto Trading For Beginners Project
01:54 Crust Network Project
02:29 KelVPN Project
02:55 Crypto Trading For Beginners Project Summary
03:04 Crypto Trading For Beginners Outro