When it comes to Polygon's analysis and what sets it apart from networks one notable aspect is its utilization of a modified proof of stake consensus mechanism that ensures consensus is achieved with every block.
This approach distinguishes itself from proof of stake systems as it doesn't require processing blocks to reach a consensus. In the proof of stake method participants, in the network stake their MATIC. Agree not to trade or sell them in return for the privilege of validating transactions on the Polygon network.
Successful validators on the Polygon network are rewarded with MATIC tokens, which incentivizes participation. Polygon serves as a scaling solution aimed at addressing limitations of the Ethereum platform, such as transaction fees and slow processing speeds. It achieves this by offering features;
- The ability to deploy existing networks and create customized blockchains tailored to requirements.
- Enabling communication between the Ethereum network and other blockchains improving interoperability.
- Assisting existing networks in becoming compatible with the Ethereum ecosystem allowing them to take advantage of its benefits.