Wat is Polygon (MATIC)?

Polygon is a protocol for building and interconnecting blockchain networks compatible with Ethereum. Polygon provides solutions to some of the key challenges Ethereum faces today, such as high costs, poor user experience, and low transaction throughput. The core component is Polygon SDK, a modular and flexible structure that supports building multiple types of applications.

The goal of Polygon is to enable different blockchains to exchange value and information with each other freely and easily. To that end, Polygon provides a framework that allows developers to easily and quickly launch their own Ethereum-compatible blockchain. This allows developers to work on the Ethereum blockchain without any problems.

Polygon's native token MATIC is an ERC-20 token that runs on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a means of payment between active users in the Polygon ecosystem. The Polygon side chain transaction fees are also paid in MATIC tokens.

Polygon is currently ranked 19th in terms of market capitalization, valued at just over €10.7 billion. At the time of writing, the price of MATIC stands at €1.58. It has a max supply of 10 Million MATIC coins, of which almost 6.8 million are in circulation.

qustion

What is the average time between blocks on Polygon?

What was the maximum and minimum recorded time between two blocks? How many transactions are done in a block on average? How do these numbers compare to L1 such as Flow or Solana, or other L2 such as Arbitrum or Optimism?

Description

The above number shows the average time between blocks in Polygon. I have calculated this average since the beginning of the year

Description

The above table and graph shows the average time between blocks in the polygon on a daily basis

As you can see in the chart above, this average number is fluctuating between 2 and 2.4

Description

compare the charts above Comparison average time between blocks maximum and minimum on Polygon and arbi and opti and solona (A recent month )

Description

Charts above compare number of transactions are done in a block on average between polygon and other blockchains

the method

I have used the following tables to get the above information

optimism.core.fact_blocks flow.core.fact_blocks solana.core.fact_blocks

arbitrum.core.fact_blocks

polygon.core.fact_blocks

reasoning

According to the above information Polygon is a protocol and framework used for building and connecting Ethereum-compatible blockchain networks. Their Ethereum Virtual Machine (EVM)-compatible sidechain allows Web3 developers to easily move or copy their existing decentralized applications (Dapps) on Ethereum and deploy them on Polygon. Traders utilizing Dapps on Polygon can then benefit from the network’s increased transaction speed and lower gas fees when compared to Ethereum. 

Polygon’s rapidly growing user base, low transaction costs, and compatibility with EVM smart contracts have led many developers to build on this public blockchain network. In this article, we will demonstrate how Blocknative’s proven real-time infrastructure helps Web3 developers improve the user experience of their Dapps and offer traders new profit opportunities.