COIN-BASE

Send and Receive Crypto On Multiple Networks, Starting With Polygon And Solana

While I was surfing around the internet to find a platform where I can pay someone to write my dissertation, I came across this news about Coin base, and I can’t be happier. For everyone planning to send or receive crypto, we have good news for you. Now the Coin base exchange is finally changing its ways as new Blockchain networks are coming up! The company recently announced that since transacting on Ethereum is becoming costly, more and more individuals are switching to better options each day. As a result, Coin base has now introduced a service that will let people send and receive crypto using sustainable Blockchain networks. Such as Solana and Polygon.

Many of you might not know but today, celebrities and other public figures prefer to charge in crypto due to its ascending value. The trading of cryptocurrency is witnessing a rocket surge because of the profit investors gain in return. The volatility, improved liquidity and unpredictable market hours make it important to trade crypto.

Sending And Receiving Of Crypto: Starting With Polygon And Solana 

Since sending crypto has become very pricy for everyone, Coin base has finally announced Solana and polygon transactions. For institutions and individual users. Though there is no doubt that Ethereum is one of the most robust, active, and programmable Blockchains, still it was vital to launch new Blockchain networks. If you are a crypto fan and have an idea about digital money and blockchains, you might know this as well that how much of the large ecosystem this platform, Ethereum is. From establishing a peer-to-peer network for developers, services, and products, Ethereum has become a home to the digital economy. Ethereum’s network also lets the members deal with each other without the interference of any trusted central authority. However, due to the surge in its use, the gas fees have seen a dramatic surge. The charges have skyrocketed and this is why now people and institutions are considering shifting polygon and Solana.

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If we talk about the last 19 months, Polygon and Solana have witnessed a good increase in their users. As compared to days back then, these platforms are more popular today regardless of the funding wallet process which is comparatively more complicated and time-consuming than Ethereum. However, to help with this, Coinbase has come to the rescue.

This platform to buy, receive, sell and store cryptocurrency is now working on to reduce time and fees for customers. It now helps participants to have a better experience at these platforms by letting them convert fiat into cryptocurrency. With this people can now fund their Solana and polygon wallets within minutes at a fraction of the cost.

In the upcoming months, Coinbase exchange’s eligible individuals and institutions will be able to trade USDC, ETH, and MATIC on polygon and USDC only on Solana. For now, it is considered one of the most scalable options for users. However, it is expected that the Ethereum gas fees issue will be also solved by this year after its network transition to PoS.

About Polygon and Solana 

Previously known as Matic Network, Polygon is a scaling solution that offers numerous tools to better transaction speed. It also reduces the fees and shrinks the complexities of blockchain network transactions. It is a layer two scaling solution that runs with the Ethereum blockchain. Layer two network means that polygon acts as the add-on layer for Ethereum and doesn’t need any change in the original blockchain layer. As the name depicts, the polygon has many shapes, sizes, and uses. It has a simpler framework that is used to build interconnected networks.

Access To Polygon And Solana Is Easier Than Ethereum 

The connection will make it way easier for students to fund their Solana and polygon wallets and convert fiat into cryptocurrency, said by Coinbase.

We all know that trading cryptocurrency has got super expensive for everyone. Now be it an ordinary person or any institution everyone is facing these high fares of Ethereum. The gas fees to validate Ethereum transaction given to miners has witnessed a dramatic increment with the usage of blockchain technology. Due to this millions of users are seeking other ways to send and receive their digital currencies. If you have noticed the popularity of polygon and Solana over the last few months, this is the reason. Though working is a bit complex on these platforms, the prices are considerably low, making payment easy for everyone.

Working Of Polygon

In the start, the polygon was an independent blockchain but after that, the network turned into an Ethereum sidechain. However now, the platform has again magnified its vision and is all set to become the internet of Blockchains that will allow different chains to connect and interoperate via bridging. The excellent thing about all this shift is that the polygon network is similar to the Ethereum virtual machine. This means it makes it accessible for developers who are already used to working on Ethereum and building applications on it.          

The polygons security model is also not compulsory, which means that the autonomous platform won’t need to forego its independence for security if they don’t wish to.

Working Of Solana

Solana is yet current famous platform for crypto trading. The network is a blend of PoH and PoS. PoH here is Proof of History and PoS is Proof of Stake.

This combination is responsible for the quick processing of transactions. Proof of History offers users an easy way to authenticate transactions without any interaction. Whereas, Proof of Stake is where the users stake cryptocurrency for authenticating the transactions.

Typically PoH functions on a simple formula, it assigns a given node and any given node with ‘leader position’ needs to generate the complete Proof of History.

The match of PoS and PoH works perfectly for Solana as it allows the network to process at a comparatively low cost if compared to Ethereum’s blockchain networks.

Conclusion

How good does it feel when you are just looking to pay someone to write my dissertation for me UK, and find some excellent information? The same were my feelings when I read about Polygon and Solana. For everyone interested in cryptocurrency, these two networks are for you. Read about them and invest wisely. It’s time to save some great money.