What are the issues that Polygon attempts to address?

Ethereum's rise has been good for the market as a whole, but it has also revealed some of Ethereum's glaring flaws. For example, Dapps, or decentralized applications, have risen in GAS price. Gas prices have risen to as much as $100 per day because to the accasional increasing NFT frenzy!

Ethereum sidechains may provide a more efficient alternative. It has been dubbed Layer 2 (L2) scaling solutions since the side chains for Layer 1 platforms like Ethereum have been grouped together. They are designed on top of L1 platforms and offer sidechain features to cut transaction costs and improve throughput.

Polygon Network.

Polygon ($MATIC) promises to address Dapp scalability by offering an Ethereum-based L2 solution. Polygon refers to itself as "Ethereum's internet of blockchains" to facilitate off-chain payments and smart contract interactions. For L2 scalability, Polygon uses a plasma-influenced strategy to create a tree-like set of "child blockchains" using the Ethereum blockchain as a layer of trust and arbitration. Batching transactions on the Ethereum blockchain reduces transaction costs.

Matic's usage of MoreVP allows Ethereum blockchain assets to exist while L2 transactions occur on a another proof-of-stake network (More Viable Plasma). Matic's EVM-enabled sidechains make it cheaper to deploy and interact with smart contracts than on Ethereum's mainchain.

Method

In this dashboard I tried to calculate Polygon Network Fees, and compared it with change paid Fees over time on Ethereume mainnet network since 2022, and for this I used ethereum.core.fact_transactions and polygon.transactions and sum Tx_Fee column.

NOTE: In all of the following charts that haven’t legend guide, polygon changes are shown in a purple color and Ethereum in a red color.

Analysis

• In the above visualize charts we can see the change s in average daily price, Daily paid Fees in $USD, $MATIC and $ETH and also cumulative growth on paid fees for Polygon and Ethereum network are depicted.

The amount of paid fees for Ethereum network are so significantly more than polygon network (In $USD) as the above PIE chart and cumulative growth rate on line chart.

Discord:0xHaM☰d#8391

Visualize transaction fees on Polygon since July 1, 2022.

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• Compare these to fees on Ethereum over the same time period

• are they correlated? Do they diverge significantly at any points?

• Provide analysis as to why you think this might be.

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Conclusion

• The daily transaction fees, following the price on average, have been gradually on a downward trend on the Polygon network and Ethereum mainnet network since 2022. The most recent peak saw daily network fees surging past the 883k, 531k, 483k, and 281k mark on January 5th and 21st, on May 11th, and on June 13th, 2022, respectively. It occurred on May 1st, with over 227 million USD.
• As of the Price chart, we can see that in all of mentioned dates, have had a drops on price and following that the Fees goes up on polygon network. so can say that correlation in Ethereum price and Polygon network Fee are observable, by means that when volatility on Ethereum Price goes up, following that fees on Polygon and Ethereum network goes up.
• Since 2022, the rate of growth for the Polygon network has sped up much more than it has for the Ethereum network.
• daily average paid fees PER transactions for both of networks are gradually decreasingly since 2022.
• When compared to those of Ethereum, the cost of Polygon's gas is a mere blip.
• When there is a crash in the market, there is an increase in the price of gas on both networks.