Rise of Polygon 💜- The AWS of web 3.0
All you need to know about Polygon. How to get started in the Polygon ecosystem? PLUS: Opportunities in web3 this week 🤩
Gm Gm web3 believers!
This week’s crypto snack is here! 😋
Do you think crypto is all about trading - buying Bitcoin, Ethereum and MATIC? Is gas fees the only thing to think about?🤨
Well, you’re clearly not exposed to the utility, web 3.0 has to provide.😁
There’s a lot happening in the data privacy, ownership and decentralized control side of the web3 universe. And there’s one name that can’t not be spoken of - Polygon💜
For those of you who don’t know - Polygon is a Ethereum based layer 2 scaling solution.
Polygon was an early adopter who saw the possibilities before the rest of the world and has now built the infrastructure that has enabled mass adoption of Dapps with over 50k+ Dapps on Polygon.😱
When Ethereum and Bitcoin first came out, low TPS(Transactions per second) & high gas fees was an inhibitor for web3 adoption in the Ethereum 1.0 ecosystem.
Paying 100’s of dollars while doing transactions is a bad user experience.😑
Polygon identified this problem early on and built layer 2 solutions on Ethereum chain to solve for the user experience in the DeFi space. 🤯
The L2 scaling solutions & layer 2 solutions like PoS chain, Zk rollups have increased the TPS manifold & brought down the gas price by a large margin🤩🤩
📌It’s no longer just trading Crypto, technology & concepts in web 3.0 are used to build blockchain games, mint NFTs and more.
📌It is revolutionizing how companies look at DeFi (decentralized finance), NFTs (non-fungible tokens), and data ownership.
Web 3.0 is still in its nascent stage but the number of Dapps are on a rise with Polygon alone facilitating more than 50,000 dApps across the globe.
With more than 160+ million unique users and over 3+ million daily transactions, since its inception, Polygon has recorded close to 3.4 billion transactions and counting. Say whaaa?
Bruh, why are so many people building on Polygon?🤔
Well, Polygon identified the pain point in the Ethereum ecosystem and built solutions to fix the user experience.
📌The speed and cost-efficiency of transactions on the blockchain are the contributing factor to its choice among developers and adopters.
📌Moreover, it provides multiple solutions to cater to the problems persistent with scaling and security.
With Polygon partnering with giants across the globe, it has brought around the usecases of web3 that we wouldn’t have otherwise thought of.🖖
Honestly, it became the first second layer chain that gained massive popularity. The success of the project brought limelight to this obscure idea of second layer solutions. 💯
The project demonstrated that it is possible to implement the theory behind roll ups and bringing transactions to the second layer.🔥🔥
Sandeep Nailwal, one of the co-founders of Polygon himself, mentioned in one of his interviews that they aspire to be the AWS of web 3.0. Polygon is building infrastructure for developers who want to build apps for the next generation of internet
Polygon X Gaming🎮
They worked with developers from The Sandbox, Decentraland, and Animoca Brands - part of the three biggest metaverses and games currently in the Web 3.0 sphere.
Polygon X NFTs👾
They’ve already worked with MetaMask, OpenSea, and Forte - they cover all bases. NFTs, gaming, and metaverse projects. It's home to some of the biggest web3 projects like Uniswap V3, OpenSea and Aave.
The list of partnerships goes on…
🚀Meta recently announced that it would allow its users to post NFTs across both Instagram and Facebook. 💟
🚀Not so long ago, fintech company, Stripe, announced that it would make payouts to its creator community 🪙
🚀A year ago, global professional services and technology firm, EY, partnered to co-develop Ethereum scaling solutions for enterprises - Polygon Nightfall🌛
🚀The American professional football league NFL started selling NFT collections last year. ⚽
🚀Nubank, the largest fintech bank in Latin America, will be launching its token and further exploring Web3 using Polygon Supernets!🤑
At the core of everything these companies are developing – Polygon remains ubiquitous.
As a developer myself, I feel Polygon has partnered with companies that help bring web3 to the mainstream audience and make it a part of their everyday life events.
Early this year Prada and Adidas Originals launched their Open-Metaverse & User-generated NFT Project on Polygon.
What’s in it for you as a builder? 👀
👉It’s not just the partnerships, Polygon provides solutions for developers to build scalable and sustainable solutions
👉With the increasing popularity and adoption of Zero Knowledge (ZK), Polygon is betting big on zero-knowledge (ZK) technology. In July 2022, they launched Polygon zkEVM - a major leap forward.
👉The Public testnet is live and you can get started with deploying your Smart contracts
Checkout the documentation here to get started 🏃♀️🏃♀️
Let’s go back to web 2.0 world for a minute. Most tech companies are moving from on-prem systems to Cloud.
When choosing between AWS, Azure and GCP among many others, one evaluates the availability of features and ease of doing things along with the throughput of the applications. How does this span out in Web 3.0?🤔
NGL, developing in web3 hasn’t been the easiest. 😓
With a new technology coming in every day and a new chain offering slightly better TPS but no stability, more features but no documentation to get started, one is bound to get confused. 😵💫
Everybody is building one kinda approach and one kinda solution. You have to hop between chains to cater to your computation, data storage, security needs.
What if you could have all your Dapp needs satisfied within one ecosystem? 🤩🤩
Well, do I need to say it again - Polygon today is an aggregator of solutions and the day is not far when people would be using it how we use AWS today. Spin up a cluster, set up the Environment, and start building because we know that data storage to monitoring all can be taken care of within the same ecosystem.
Well enough talking - here’s the sauce:🤓
📍Polygon PoS - Proof Of Stake helps you achieve unprecedented transaction speed and cost savings by utilizing side-chains for transaction processing. No more pending transactions with long wait times.
Honestly, deploying on Polygon has been the easiest. Get started with deploying your contracts on Polygon and see for yourself 💁
All this is good but say you want to build your own blockchain for a specific application [ coz the ones available dont have the necessary features or securtiy needs to cater to your application for instance]
You decide the consensus mechanism, set up the Infra, get validators - theres’ got to be a better way🙄🙄
📍Polygon Supernets removes the complexity of blockchain development by providing premium support to help you build your own blockchain, without the hassle of maintaining blockchain infrastructure.
You can run your network as your application-specific chain that can easily handle all your user transactions without competing with other decentralized applications.😮
Build your own highly customized network specific to your application, including setting default transaction fees and your own gas token.🤩
Coz, Your network, your rules😎
In the near future, you can scale your Supernet even more using ZK-rollups, so stay tuned
Apply here to start building on Polygon Supernets💯💯
Is there something for non-devs? Hell yeah!
Fellow designers, creators, growth hackers, I hear ya💜💜
If you're a game developer, builder or NFT creator read on! Starting your own NFT and metaverse projects can be hard. And getting funding and tractions can be even harder
📌Polygon Studios is your guide through the many dimensions of the metaverse and web 3.0.
📌It’s the Gaming and NFT arm of Polygon focused on growing the global Blockchain gaming and NFT Industry and bridging the gap between Web 2 and Web 3 gaming through investment, marketing and developer support.
📌If you’re a gamer, your games get 360-degree building support, big brands and much loved franchises can launch on Polygon, and gamers can enjoy a whole new world of play to earn opportunities and decentralised gaming
What about our creative tinkerers here? Hold up I got ya’ll💁♂️
If your’e an artist / a brand or anybody who’s looking to develop customised NFT models and markets, Polygon NFT Studio has got your back.
Now I know some of you are absolute beginners and are actually looking for resources to start building in this ecosystem. When I say it’s the AWS of web3 I mean it in true sense.
Start your learning journey with Polygon University. 😍
Learn web3 concepts and more , on getting started with Polygon tech through self paced modules and learning paths on everything from The Merge to zkEVM.
Well that’s a lot of resources to get started. Isn’t it ?😅
If you’ve been procrastinating because it all seemed too much and you didn’t know where to start, now you’ve got the path, you’ve got the resources and not to miss the community. You can join the Polygon community and be a part of the ecosystem🤩
🟣Web3 Opportunities this week 🟣
1️⃣ Looking for an internship in web 3.0? Superintern Program V2 is live. Internships are available for devs, designers, marketers, writers and more. Stipend of upto $500/month up for grabs. Apply here🏃♀️🏃♀️
2️⃣ The Phoenix Guild is starting their 2nd cohort of the solidity bootcamp on the 31st of October. A great way to get into web3 programming. Apply here
3️⃣ MLH has launched a web3 track for its 12 week long fellowship. Still thinking where to start? Apply here to start your web3 journey
That’s a wrap for today!
If you want more web3 gyan, then, be sure to follow us on Twitter (@Web3_BNB)
Adios👋
How'd you like today's web3 Bytes?
Let me know in the comments