Polygon Fees
Comparing Polygon fees to Ethereum fees, side-by-side.
Introduction
The Polygon network is a second layer built on top of the Ethereum blockchain aimed at solving the inherent failings of Ethereum.
The chief of Polygon's propositions is to facilitate faster transactions at a low gas cost.
How has Polygon held up to this promise? How have Polygon fees changed over time? This dashboard answers these questions by comparing Polygon fees to Ethereum fees.
Similarly, let's dive into Ethereum's daily fees since June 1, 2021.
Let's add a graph of polygon and ethereum fee variance to aid our understanding and analysis.
Findings & Conclusion
First and foremost, it is evident that both ethereum and polygon daily fees change over time. This could be due to either increasing transaction volume or increase in transaction fees or both.
However, it remains that polygon and ethereum fees follow the same trajectory, indicating some form of correlation. Moreover, we do not see any diversion.
Since Polygon is an L2 (second layer) of Ethereum, it is reasonable to lean towards the theory that increasing transaction volumes on Polygon, which are eventually settled on Ethereum are responsible for the correlation.