Ethereum is an open source public blockchain network that allows people to send cryptocurrency to anyone for a nominal fee. The network powers a set of applications that can be used by everyone and cannot be used by anyone. This programmable blockchain allows people to transact in digital money without the involvement of banks or brokers. According to Ethereum.org, it also serves as an uncensored marketplace for financial services, games and apps.
Polygon Network, on the other hand, is a framework used to develop such blockchain networks that can be integrated with the Ethereum network. With Polygon Blockchain, full blown multi-chain systems can be created that can work in sync with other interfaces built on Ethereum. According to Polygon.Technology, the network maintains better security while resolving issues associated with blockchain – such as slow speeds and high transaction fees.
Polygon’s native coin has also been performing well in recent days, despite major market volatility caused by China’s cryptocurrency. As of Friday, September 8, Polygon (MATIC) has gained 3.59 percent in value and is trading at $1.36 (approximately Rs.102). In a report, Cryptopolitan.com claimed that investors view Polygon as a safe and stable crypto-investing option.
However it is worth mentioning that the polygon network itself is not as “secure” as it should be. For example, in August, Polygon Network was hacked and attackers allegedly stole crypto assets worth $600 million (about Rs 60 crore).
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.
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