See More CryptosHome

MATIC

Polygon

Show Trading View Graph

Mentions (24Hr)

7

-30.00% Today

Reddit Posts

DecentraWorld [$DEWO] | Ecosystem of DApps w/ Privacy protocols by default | Privacy Layer 2 Block Chain & DEX launch incoming | Huge Marketing Push | 4 CEX set to list | Launched 72 hours ago | Over 17k TG | $4M Market Cap | Doxxed & Audit

DecentraWorld [$DEWO] | Ecosystem of DApps w/ Privacy protocols by default | Privacy Layer 2 Block Chain & DEX launch incoming | Huge Marketing Push | 4 CEX set to list | Launched 72 hours ago | Over 17k TG | $4M Market Cap | Doxxed & Audit through PinkSale | Amazing layer 2 blockchain at Low MC

DecentraWorld [$DEWO] | Ecosystem of DApps w/ Privacy protocols by default | Privacy Layer 2 Block Chain & DEX launch incoming | Huge Marketing Push | 4 CEX set to list | Launched 72 hours ago | Over 17k TG | $4M Market Cap | Doxxed & Audit through PinkSale | Amazing layer 2 blockchain at Low MC

Operated By Aave (AAVE), Lens Protocol Finally Goes Live On Polygon (MATIC) Blockchain

Umbreum Token ($UMBC)| [$214.39K market cap] | [1 day old] | Coin of The Dark Nexus Metaverse | Doxxed Developers from Ivy Leagues |

r/CryptoCurrencySee Post

Aave’s Decentralized Social Media Platform Arrives on Polygon (MATIC). The launch of Lens Protocol comes weeks after Aave founder Stani Kulechov was temporarily suspended from Twitter.

Another LUNA rant/question

MetaMask worse customer support

Ernst and Young announces EY OpsChain API services for enterprise scaling. EY OpsChain API services allow enterprises to access the Ethereum Mainnet and the Polygon (MATIC) Proof of Stake network.

r/CryptoMoonShotsSee Post

Umbreum Token ($UMBC) | Coin of The Dark Nexus Metaverse | Doxxed Developers from Ivy Leagues | 2CHAINZ Launch Concert |

r/CryptoCurrencySee Post

Facing a major liquidity crunch, some developers behind Terra-hosted applications have packed their bags for other chains. Polygon (MATIC) and Fantom (FTM) among the major benefactors

Opinion: Alt coins should only be used to further the advancement of Bitcoin and Ethereum

r/CryptoCurrencySee Post

Selling Wrapped Ethereum (WETH) in Coinbase Wallet

Is there an app like M1 Finance for Crypto?

Help! My friend's ETH Bep2 to ETH in trustwallet without binance exchange? Need some clarification.

What would you do with $100k right now.

What do you consider blue chip material? (Not BTC or Ethereum)

Put your Polygon (MATIC) To Work To Earn Passive Income

r/CryptoMarketsSee Post

Put your Polygon (MATIC) To Work To Earn Passive Income

For those who are panicking about the future of crypto, you are only panicking about the future prices. The fundamentals are still intact. This leaked email by Sandeep Nail proves it

For those who are panicking about the future of crypto, you are only panicking about the future prices. The fundamentals are still intact. This leaked email by Sandeep Nail.

80% OFF Buy Tax on Sunday 15th May for Bodav2 | Certik Audited | 19% Busd Reward Token | 100% Doxxed Team

r/CryptoCurrencySee Post

Roland-Garros is inaugurating a virtual Court Philippe-Chatrier and launching its first ever collection of NFTs entitled “RG Game, Seat & Match” on the Polygon (MATIC) blockchain.

LUNA, my portfolio and a question

BTC Dropped below $27,000.00 USD. Where do we see the next floor?

r/CryptoCurrencySee Post

Advice for someone who's facing the bear market for the first time?

r/CryptoCurrencySee Post

MATIC notifications through COINBASE APP

r/CryptoCurrencySee Post

Shaking Out Weak Alts and Hodling Others

r/CryptoCurrencySee Post

Bancor 3 Goes Live With Polygon (MATIC), Yearn, Others as Partners

r/CryptoCurrencySee Post

Your portofolio now vs 3 months ago.

r/CryptoMoonShotsSee Post

$DEWO Token Presale Starts Today! - Partnerships With Multichain.org, SWFT, Kommunitas, Getblock - Audited Contract & Doubled Doxxed Team | Strong Community | Big Marketing Compaign | trusted dev

r/CryptoCurrencySee Post

first crash here 👋

r/CryptoCurrencySee Post

What coins you own perform the best right now?

r/CryptoCurrencySee Post

LUNA, my portfolio and a question

r/CryptoMarketsSee Post

Put your Polygon (MATIC) To Work To Earn Passive Income

r/CryptoCurrencySee Post

Put your Polygon (MATIC) To Work To Earn Passive Income

r/CryptoCurrencySee Post

Did you sell or HODL during the last couple of days?

r/CryptoCurrencySee Post

Meta launches digital collectibles on Polygon (MATIC) for Instagram, Facebook. Polygon is one of only a handful of crypto projects that have partnered with multiple publicly traded companies.

r/CryptoCurrencySee Post

Polygon reaches level that last time triggered a 275% MATIC price rally

r/CryptoCurrencySee Post

Handy links for starting investors! Please, feel free to share more :)

r/CryptoMoonShotsSee Post

$DEWO Token Presale Starts Today! - DecentraWorld Is Featured Everywhere! Partnerships With Multichain.org, SWFT, Kommunitas, Getblock - Audited Contract & Doubled Doxxed Team - Experienced team of 25+ members - You don't want to miss it! Join the Telegram to access the presale!

r/CryptoCurrencySee Post

Lost Crypto while transfer between Exchanges

r/CryptoCurrencySee Post

I invested $30k last year, and currently down $19k, looking to invest more.

r/CryptoCurrencySee Post

Converting “high quality” Alts to BTC or Hodl?

r/CryptoCurrencySee Post

DCA Strategy Evaluation

r/CryptoMarketsSee Post

Portus Network - Connecting blockchains to the world ; Long Term Coin. We are in private sale round.

r/CryptoCurrencySee Post

Cashed Out My First Big Bag!!! Thank you reddit for all the information, here is my little experience advice after a few years in the crypto market.

r/CryptoCurrencySee Post

I just capitulated (13.5% total loss)

r/CryptoMoonShotsSee Post

$DEWO Token Seed Sale Today May 7th | DecentraWorld x Kommunitas Partnership | Audited Contract & Doubled Doxxed Team | Experienced team of 25+ members | Partners include Multichain.org, SWFT, Kommunitas, GetBlock, and others. | Kommunitas Seed Sale Today!!

r/CryptoCurrencySee Post

Can someone please help me with withdrawal. Been stuck for a week. Losing sanity

r/CryptoMoonShotsSee Post

KODI V2 | $6.4 mill MC | CookieSale Launchpad LIVE | CookieSale is Official Launchpad of CoinSniper | CertiK Audit | Staking & Farming | Pitch Agency | Utility Token

r/CryptoMoonShotsSee Post

KODI V2 | $6.4 mill MC | CookieSale Launchpad LIVE | CookieSale is Official Launchpad of CoinSniper | CertiK Audit | Staking & Farming | Pitch Agency | Utility Token

r/CryptoMoonShotsSee Post

$DEWO Token Seed Sale May 7th | DecentraWorld x Kommunitas Partnership | Audited Contract & Doubled Doxxed Team - Experienced team of 25+ members | Partners: Multichain.org, SWFT, Kommunitas, GetBlock, and others.

r/CryptoMoonShotsSee Post

FiveChainGalaxy - NFT game - multiple chain launch - aggressive marketing - immediate Tier 2 exchange listing after launch - video game in the pipeline - the next potential moonshot

r/CryptoCurrencySee Post

Matic Network (MATIC) Draws Closer to Support Line of Yearlong Pattern - BeInCrypto

r/CryptoCurrencySee Post

From ETH to the Farm

r/CryptoMoonShotsSee Post

Blockblend – Bridging to ETH – launch on Uniswap today 5PM UTC | Anonymous transaction utility – mix eth, bnb, matic, cro | Amazing ecosystem | 54% supply staked in farm pools

r/CryptoCurrencySee Post

With CDC shitting itself I've been looking into alternatives

r/CryptoCurrencySee Post

Staking options in Canada?

r/CryptoCurrencySee Post

Transferring out of CDC. How?

r/CryptoCurrencySee Post

I've lost confidence in CDC, where to go?

r/CryptoCurrencySee Post

Yesterday's Dump Proves the Case for Crypto and was The Perfect Time to "Buy the Dip". Here's Proof.

r/CryptoMoonShotsSee Post

Paramount Staker is a first-of-its-kind multichain sustainable staking protocol, which has already been launched on Avalanche, Binance Smart Chain, and Cronos chain and will be l Staker | Stake Different | Launching on Polygon 04/30/2022 at 20:00 PM UTC | Mount Token Airdrop | Audited by Solid Proof

r/CryptoCurrencySee Post

If anything, crypto teaches you patience.

r/CryptoCurrencySee Post

Dogecoin Being Used Within Twitter? / Buying The Dip, MATIC & SAND!

r/CryptoCurrencySee Post

ETH and MATIC withdrawal from Binance to Ledger never went through (Panic City)

r/CryptoCurrencySee Post

Bridging gone wrong?

r/CryptoCurrencySee Post

Polygon (MATIC) will invest $100M in projects that use its Supernets blockchain

r/CryptoCurrencySee Post

Adobe is taking another step into NFTs with their partnership with Polygon (MATIC)

r/CryptoCurrencySee Post

Do I have to diversify? I set up reoccurring buy for BTC and ETH. But also MATIC and DOT. Do I continue with MATIC and DOT? Or double down on BTC AND ETH?

r/CryptoMoonShotsSee Post

KODI V2 | $4.5 mill MC | CookieSale Launchpad LIVE | CertiK Audit | Staking & Farming | Pitch Agency | Utility Token

r/CryptoMoonShotsSee Post

| PARABOLIC | The token that's been designed to Explode | Launching TODAY 22:00 UTC Multi-Chain [Bsc, Eth, Avax, Matic, Ftm] Tier 2 exchange listing planned after launch! Staking is live! Don't miss Upcoming AMAs!

r/CryptoCurrencySee Post

How I Find Oversold Altcoins Likely to Bounce Hard

r/CryptoMarketsSee Post

I don’t think that striving for perfection in crypto will get you anywhere. Try keeping profitability and stability in mind instead.

r/CryptoMoonShotsSee Post

/PARABOLIC\ The token that's been designed to Explode | Launching TODAY April 21 Multi-Chain [Bsc, Eth, Avax, Matic, Ftm] Tier 2 exchange listing planned after launch! Don't miss 2 Upcoming AMAs!

r/CryptoCurrencySee Post

A bridge not far enough?

r/CryptoMoonShotsSee Post

| PARABOLIC | The token that's been designed to Explode | Launching Multi-Chain on the 21s April [Bsc, Eth, Avax, Matic, Ftm] Plus upcoming tier 2 exchange listing planned after launch! Don't miss 2 Upcoming AMAs

r/CryptoCurrencySee Post

LRC or MATIC?

r/CryptoMoonShotsSee Post

| PARABOLIC | The token that's been designed to Explode | Launching Multi-Chain on the 21s April [Bsc, Eth, Avax, Matic, Ftm] Plus upcoming tier 2 exchange listing planned after launch!

r/CryptoMoonShotsSee Post

GOOSEHONK! A memetoken/altcoin on the BSC primed for takeoff!

r/CryptoMarketsSee Post

Despite short and mid-term prospects for the coin looking bleak, a long-term holder view is the best way to be adopted for MATIC. It has always been like that.

r/CryptoCurrencySee Post

Bancor 3 Beta just launched - here’s a summary of a protocol you should be aware of

r/CryptoCurrencySee Post

How to lose $2K in one click - DON'T USE RUBIC EXCHANGE!

r/CryptoCurrencySee Post

My assest stuck on Binance Funding Wallet.

r/CryptoCurrencySee Post

My asset stuck on Binance Funding Wallet

r/CryptoCurrencySee Post

How can I send a zero-value transaction using MATIC (Polygon) with plain-text attached?

r/CryptoMarketsSee Post

[MATIC]Portus Network - Connecting blockchains to the world - long term [ALTCOIN]

r/CryptoMarketsSee Post

[MATIC]Portus Network - Connecting blockchains to the world - long term [ALTCOIN]

r/CryptoMoonShotsSee Post

[Polygon partnership][MATIC] Portus Network - Connecting blockchains to the world [Not a memecoin]

r/CryptoMarketsSee Post

Liquidity Mining 1.0 was a success, but still didn’t stop Polygon’s grind to launch 2.0. Pretty sure this will be rocking the future! First ever KPI based LM in the form of yield farming protocol.

r/CryptoCurrencySee Post

Crypto Explained in under 200 words

r/CryptoMoonShotsSee Post

Blockblend – Anonymous transaction utility – mix eth, bnb, matic | Cronos blockchain added to the mixer | CMC and CGlisted recently | Amazing ecosystem | 54% supply staked in farm pools

r/CryptoCurrencySee Post

Should I put the rest of my cash position into BTC, ETH, DOT, or MATIC?

r/CryptoMoonShotsSee Post

GooseHonk

r/CryptoCurrencySee Post

Jumped back in today

r/CryptoMoonShotsSee Post

Blockblend – Cronos blockchain added to their utility | Anonymous transaction utility – mix eth, bnb, matic | Coinmarketcap and Coingecko listed recently | 54% of total supply staked in farm pools | Enormous ecosystem

r/CryptoCurrencySee Post

Choosing a Uniswap V3 Price Range: The Fundamentals

r/CryptoMoonShotsSee Post

PXSWAP from PolyX just launched. LP Yield Farming at up to 3000Percent APR. First-Ever Admin staking that combines Polygon rewards and Liquidity Farming of any 2 tokens of choice. Low DEX Swap fee. Play to Earn Lottery.

r/CryptoCurrencySee Post

Ava Labs Set to Raise $350M at $5B Valuation: Report

r/CryptoCurrencySee Post

What Is Polygon (MATIC)? Polygon Ecosystem Overview 2022

Mentions

Buy an average house, leave $50K in cash, then diversify the rest to the following: 18% BTC 27% ETH 5% MATIC 30% VOO 10% VGT 5% MSFT 5% NVDA

That's actually a nice portfolio long term in my opinion, as long as you have most of your portfolio in btc and eth. Also, atom should be staked in a non custodial wallet to earn 12%+ staking rewards and also earn airdrops and ADA should be staked and DOT should be staked and MATIC should be staked it thinking long term like 10+ years. Sure some could go to zero but I mean, the upside is still there too.

Which of these should i sell at a loss because they will never recover? - MATIC - LINK - DOT - SOL - ATOM - ADA - AVAX - CRO All of them? I'm so fucking depressed. Why did I do this?

With ethereum merge I see big potential for MATIC next bull run

Mentions:#MATIC

99.9% of cryptos are useless and should have no value. A handful of the tens of thousands of crypto projects bring some value. This is why investing in altcoins is so dangerous. This is true even for top 10-50 altcoins, let alone moonshots that people often invest in. BTC is risky. ETH is risky. My favorite projects like ATOM, ALGO, and MATIC are insanely risky. And that moonshot you are invested in is purely a gamble. I also think this reddit during bull cycles gets overly optimistic about crypto. I do think crypto will play a big role in the future. But adoption of crypto by developed economies as a primary currency is not going to happen in 1 or 2 decades. These countries benefit too much from control over their fiat currency. And people who think BTC is likely to get to $500k or millions in the coming 10 or so years are likely delusional. I do think BTC will outperform equities over the next decade by a large margin, with some higher downside risk. I do see BTC being a useful secondary currency in some developing economies that struggle from very significant inflation in the next decade or so once BTC price gains some stability. I can see defi becoming useful for serving the underbanked. Developed nations have some underbanked and developing nations have many underbanked. I don't think the defi crazy of yield farming is sustainable, but defi as a means of storing and moving money cheaply can be a huge benefit to those with limited or no banking access. I can see NFTs being useful in the ticket system (movies, concerts, and more...possibly even for flights and the like in the longer term). I believe in the future of crypto. But I am also a realist. Crypto is very risky. Even BTC, the safest crypto investment, could be replaced. Yes, BTC's adoption makes it hard to displace, but BTC is not as safe as an S&P 500 index fund. It is a single investment that faces outsized risk. But as I believe crypto will play a larger role in the future, I invest in BTC and ETH, and I dabble with some of my favorite projects with a small portion of my crypto portfolio (80% minimum for BTC/ETH combined). And I also keep my crypto investments at under 20% (currently around 12%) or so of my overall investment portfolio. This limits my risk if crypto collapses, but gives me upside for gains if crypto does well. Some crypto bulls will call my fears FUD. Some crypto bears will think I am too bullish. I consider myself a crypto bull in the long-term. But I am also a middle aged bull with savings to protect. I could retire frugally now. So while I want to grow my investments, I also want to protect them. This means I need to be careful about the risks I take.

MATIC and THICCcoin

Mentions:#MATIC

Honest question: I’ve been out of the loop for the past 4 or 5 months due to work and life. What are your top 5 cryptos (conviction for future growth/survival) right now? I’m holding VET, ADA, XRP, MATIC, CRO, and a small amount of BTC and ETH. Thank you.

Satoshiswap will be 100% percent on chain DEX, all of the functions will be happening on blockchains. We will get released on the main chains gradually over the coming months. (ETH,BSC,AVAX,MATIC,FANTOM) Imagine the endless possibilities to turn few dollars to 1000s by shorting or longing any crypto deployed on any main chain. Just look at any respectable token launch from the past. Now ability to control your profits and losses you can do in safe and controlled manner. There is also secret utility project not revealed yet to prevent copycats. We also got limited supply with token burn not just from the DEX fees but also from SSB charting platform. This project got a chance to overtake PCS as their long and short is not on 100 percent on chain and quite limited in terms of what crypro you can short or long.

tldr; Polygon is an Ethereum layer 2 scaling platform that aims to increase the functionality and throughput of the network. Polygon is a layer-1 sidechain that runs in parallel to the main network. The network uses its own set of validators and uses a native token called $MATIC. It allows any developer to easily migrate apps from Ethereum to Polygon and take advantage of the lower fees. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#MATIC#DYOR

Had to get some buys in today before the long weekend. Bought a little MATIC, a little more ADA, a larger amount of ETH and a smidge of throwing money on a fire.

Aside from BTC and ETH im looking at picking some GALA, DOT, MATIC and ALGO if they drop a little more, any concerns on these aside from the current state of the market?

I'm down already so I don't see why I should sell at a loss. I'd rather take advantage of the low prices to more to my bag which is what I'm doing by the way. I've added more MATIC, RFOX, and SYLO tokens to my bag. I know theres money to be made. I'm also looking to add some Honeyland NFTs to my bag.

I'm down already so I don't see why I should sell at a loss. I'd rather take advantage of the low prices to more to my bag which is what I'm doing by the way. I've added more MATIC, RFOX, and SYLO tokens to my bag. I know theres money to be made. I'm also looking to add some Honeyland NFTs to my bag.

What’s your take on the ability of Near to differentiate from other strong L1s? I am starting to believe that a pure DeFi war doesn’t make sense, we need other use cases and more innovation, not only pumping liquidity incentives. That’s why for example I like MATIC a lot, doing a number of things (payments, decentralized ID, etc) on top of pure DeFI, and for the same reason ADA/ALGO I like Near a lot, it looks like the cherrypick of the best tech around, but I am not sure whether the strategy is to just push on DeFI growth on Aurora. I believe it’s not enough anymore

Some people don't understand this opportunity of buying their favourite to purchase their favorite alts at a low cost. I've taken advantage of this favourite to add more of my favorite stocks to my portfolio: MATIC, RFOX, SYLO, and CVP. I've staked them and will wait for market sentiment to improve. I'm also anticipating June 1st when I'll be able to mint a genesis Bee on Honeyland.

Fully ready to go the weekend buy on some altcoins with real-life utilities as seen with ETH, MATIC, EGLD and UTK with the crypto payment gateway solution.

#Ethereum Con-Arguments Below is an argument written by roberthonker which won 2nd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Taken from u\/maleficent_plankton's submission from last round** > > **Gas Fees**: > > The biggest issues for Ethereum are its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason small ERC20 transactions on DeFi platforms under $1000 are impractical. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Pretty ridiculous. > > [Typical transaction fees were between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $70 on several occasions. It's very common for popular exchanges to set withdrawal fees to a flat $20-50 for ERC20 transfers due to expensive and unpredictable Ethereum network fees. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees in early 2021 probably saw $100-$200 gas fees. Staking MATIC also costs expensive ERC20 gas fees. (So much for MATIC's claim to reduce ETH gas fees.) > > **Inflation**: > > Ethereum has no supply limit and is still inflationary. It did have [three deflationary days](https://www.theblockcrypto.com/data/on-chain-metrics/ethereum/net-eth-emission-after-eip-1559) in September 2021 after EIP-1557, but it's still net inflationary of ~5K ETH daily. As other competitors join the smart contract space, it's likely we'll see fewer deflationary days in the future. > > **Smart Contract Competition**: > > Ethereum has enjoyed its lead as the smart contract blockchain because it had so few competitors historically. Now we have tons of efficient smart contract competitors like Algorand, Solana, and Cardano. While Ethereum has an enormous lead in smart contract project adoption, it is likely to gradually lose market share to its competitors, which are ahead of it in terms of efficiency and technology. Who wants to pay $20 gas fees when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? This will mainly depend on whether the PoS consensus Ethereum 2.0 can arrive fast enough, and whether it can deliver its claims. For now, we are stuck with PoW Ethereum with almost no adoption for Layer 2. > > **Layer 2 issues**: > > Layer 2 solutions are still extremely early and almost have no adoption. Considering how long it takes exchanges to roll out Layer 2 networks, it'll probably be 6-12 months before I can use any Ethereum Layer 2 solutions on Coinbase. (Polygon network still isn't available on any of the biggest US exchanges after half a year of becoming popular and claiming hundreds of partnerships). The majority of platforms do not currently support Layer 2 rollup networks. Very few fiat onramping/offramping exchanges allow for Optimistic or zk-Rollups. ZK Rollups are very limited in use until they have coordination between exchanges that both support them. > > **L2 - Plasma** has been around since 2017, and I couldn't find anyone still using this state-channel solution. It's [more or less abandoned](https://medium.com/dragonfly-research/the-life-and-death-of-plasma-b72c6a59c5ad) in favor of rollups. I guess some Polygon bridges still use Plasma. It required lots of work and always-online overhead to monitor the side chain for misbehavior. You also need to pay the ERC20 gas fee twice when opening and closing the state channel. It has all the downsides to Lightning, which itself is facing lack of adoption. There is a super long challenge period to exit a side chain via Plasma, which means a 1 week settlement. And a mass exit would complete congest the Ethereum blockchain. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. > > **L2 - Optimistic Rollups are expensive and slow**: > > They settle in [1 week](https://vitalik.ca/general/2021/01/05/rollup.html) because there is a challenge period where anyone can submit a fraud-proof to show if there was an illegitimate transaction. People get anxious over 30-minute finality. How are they going to deal with 1 week settlement? Also, optimistic rollups are inherently insecure by design in order to reduce fees because they outsource validation offchain. The operator can influence transaction ordering. You can have faster withdrawals if you pay a market maker or verifier to jump in and swap your transaction, but why bother with the additional hassle and fees? I don't think the average crypto user will have any use cases for optimistic rollups. Optimistic rollups currently cost [$1-2 on Arbitrum One and Optimism](https://l2fees.info/). Unless you need to use a smart contract (which aren't supported on ZK Rollups), why would anyone anyone want to babysit their transactions for 1 week when ZK Rollups are faster, cheaper, and more secure? > > **L2 - ZK Rollup limitations**: > > ZK Rollup require special infrastructure to generate ZK Proofs. These are very computationally-expensive (potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly). On-chain cost of a ZK Rollup is cheap at about [$0.20 to $.40](https://l2fees.info/), but there is a separate infrastructure cost that is rarely mentioned. Loopring is rolling up its costs into its trading fees, currently 0.80%, so their feeless transfer claims are misleading. For transfers of $10K, that's $80 of fees. In any case, even at $0.40, these are still ~100x more expensive than transferring microtransaction-friendly coins such as XLM, XRP, Nano, etc. FWIW, it's a huge improvement over current Layer 1 costs ... when the platforms I use support them some year in the future. The big limitation is that smart contracts can't use ZK Rollups. > > **Ethereum 2.0 arriving later than competitors**: > > Ethereum is separated into Casper FFG (Friendly Finality Gadget) and Casper CBC (Correct by Construction). Casper FFG is a BFT PoS consensus overlay of PoW based on the GHOST protocol. We don't have much details on Casper CBC since its design is still in progress. Its main purpose is to increase transaction speeds and reduce energy costs while sacrificing decentralization and security. > > The ETH 2.0 Beacon chain, a completely separate blockchain from ETH, won't merge with the main blockchain [until 2022](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving competitors plenty of time to steal a share of smart contract projects. Even then, Vitalik said that [scaling will still rely on ZK Rollups until the 64-chain sharding phase](https://decrypt.co/34204/ethereum-2-0-will-walk-and-roll-for-two-years-before-it-can-run) arriving later in 2022 or 2023. It'll likely lose some market share to existing alternatives like Algo, Solana, Cardano, and others. > > Unlike Cardano PoS staking, Ethereum 2.0 PoS staking uses slashing. The system cannot tell between being offline or being censored. It's pretty damn scary. > 50% downtime is breakeven (unless there's no prepare + commit). Slash punishment can be very harsh. In the first months, we already had multiple examples of large slashings on the Beacon ETH 2.0 chain caused by simple errors: [Bugs](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) can cause slashing. [Timestamp](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) being off and cause slashing. QoS and [redundancy mistakes](https://medium.com/stakefish/ethereum-2-0-the-first-slash-a-retrospective-99e4fdcd563a) can cause slashing. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz4vav/rcc_cointest_top_10_ethereum_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

DOT, ALGO or CKB MATIC great when ETH becomes bigger

#Polygon Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Polygon Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Background - Polygon is many-sided**. There's the main Polygon PoS network that acts as a sidechain to Ethereum, and then there are so many side projects, many of which deal with Layer 2: > > - MATIC: The main Polygon token, which is present on multiple networks > - Polygon PoS: The main Ethereum side-chain network that most are familiar with. It saves checkpoint state on the Ethereum network every [256 blocks (5 minutes)](https://research.binance.com/en/projects/matic-network). > - Polygon [Hermez](https://docs.hermez.io/#start-here-for-hermez-10-documentation): ZK-rollup Ethereum Layer 2 > - Polygon [Zero](https://blog.polygon.technology/introducing-plonky2/): A fast ZK-stark/ZK-snark hybrid solution built on the Plonky2 protocol. It proofs are theoretically [100x faster than current ZK proof calculations](https://blog.polygon.technology/zkverse-polygons-zero-knowledge-strategy-explained/). > - Polygon [Miden](https://blog.polygon.technology/polygon-announces-polygon-miden-a-stark-based-ethereum-compatible-rollup/): Stark-based ZK-rollup Ethereum layer 2 > - Polygon [Nightfall](https://blog.polygon.technology/zk-proofs-protocol-polygon-nightfall-launches-on-testnet-to-provide-low-cost-private-ethereum-transaction/): Enterprise version of Polygon that uses "ZK-Optimistic Rollups" (ZK proof for privacy and optimistic-rollup for scalability) > - Polygon Avail: Standalone network or side-chain solution > - Polygon Plasma Bridge: A legacy bridge that shouldn't be used anymore. > > This post will mainly focus on the Polygon PoS network. > > ------------------ > > **CONs** > > **Still requires the Ethereum network** > > The Polygon PoS network is a side chain for Ethereum. It has its own network security, but staking is still done on the Ethereum network and requires paying expensive Ethereum smart contract gas fees. > > Similarly, going from Layer 1 Ethereum to Polygon is mainly done through the Polygon PoS bridge, which also costs expensive Ethereum gas fees. (This will gradually phase out as more CEXs provide direct onramp to the Polygon PoS network.) > > **Has plenty of competitors** > > There are just too many competitors, which dilutes adoption and liquidity for Polygon's ecosystem. While Polygon PoS isn't a direct competitor to most Layer 2 rollups and monolithic "Ethereum killers" because it is designed from ground up to be Ethereum sidechain, it does experience indirect competition. And the other Polygon Layer 2 rollup projects are direct competitors. As of Jan 2021, Polygon Hermez is only in [17th place in TLV](https://l2beat.com/). > > **Less resistant to DDoS attacks** > > Like all networks with low transaction fees, it at risk to DDoS attacks since the barrier to making transactions is low > > In early Jan 2022, [Sunflowers Farm \(SFF\) unintentionally DDoS-attacked the Polygon PoS network](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) and completely congested the network because it was more profitable to play the game and spam transactions than pay network fees. Transaction fees shot up 20x. Eventually, a hacker exploited the SFF game and reduced its price to zero, and users rejoiced because it cleared the congestion. > > **Centralized governance of the PoS chain** > > Governance is currently centralized. > > The Polygon team single-handedly [increased the transaction fee from 1 to 30 Gwei in Oct 2021](https://thedefiant.io/polygon-transaction-fee-hike/) to combat spammers. They didn't communicate this with the community or ask for feedback ahead of time. > > The Polygon team also [secretly hard-forked the network](https://cryptobriefing.com/a-hacker-stole-1-6m-after-exploiting-a-polygon-bug/) by pushing out a patch 1 day after a hacker stole $1.6M from the network from the Polygon PoS genesis contract in Dec 2021. The team didn't publicize the reason for the emergency patch until over 3 weeks later. > > They have only very recently starting looking to decentralize governance through a [Polygon Ecosystem DAO](https://blog.polygon.technology/state-of-governance-decentralization/), but that could be a long time away. > > Also, the top 4 staking validators out of a total of 100 validators [own 49% of the supply](https://wallet.polygon.technology/staking/) of MATIC, but the staking validators are only used for validation and [block production](https://forum.matic.network/t/matic-system-overview-bor/126), not governance. > > **Split attention on multiple projects** > > For better or worse, Polygon is working on multiple Layer 2 solutions (Polygon PoS, Hermez, Zero, Miden, Nightfall, Avail) and constantly researching different protocols. This is a rather Google-like decision to have multiple competiting products where it becomes the Jack-of-all-trades, Master-of-none. Some of these protocols are really exciting, but the crypto community doesn't know about them because there are too many to focus on. > > **Tokenomics of MATIC Tokens** > > The MATIC token has limited utility. It's used for staking (validation and block production). Once the pool of staking rewards runs out of funds, all staking rewards will need to come from transaction fees, which are tiny. Currently only 75% of the coins are in circulation, and the Polygon Team has an ongoing [token release schedule](https://research.binance.com/en/projects/matic-network) for dumping tokens on the open market. > > ------------------ > > Disclaimer: I currently do not own any MATIC. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4yk4/coin_inquiries_round_polygon_conarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

Polygon {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.Submit an argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). **Moon prizes by award for the Coin Inquiries category are: **1st - 300, 2nd - 150, 3rd - 75, and Best Analysis - 500.** --- To submit an MATIC pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sife7l/coin_inquiries_polygon_proarguments_february_2022/). | To submit an MATIC con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifeam/coin_inquiries_polygon_conarguments_february_2022/).

Mentions:#MATIC

MATIC Polygon

Mentions:#MATIC

I'm clueless, I bought a bunch of DOGE and managed to get my money back. I then put it in other crypto and it all seems to be doing terribly. The first number in brackets is how many EUR I put in, and the second number is the current value. MATIC (187) (98.22) MANA (50) (44.64) DOGE (105) (33.85) DOT (45) (30) MINA (50) (11) SHIB (26) (9.57) XLM (50) (11) SUSHI (25) (4) ADA (25) (5) It feels pointless to sell at a loss, so I guess it'll just sit there and hope there is some upturn in them.

You are correct and that's why applying DCA is better. I am using it on MATIC, BNB KOL and TWT. let's see how it goes.

#Ethereum Con-Arguments Below is an argument written by roberthonker which won 2nd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Taken from u\/maleficent_plankton's submission from last round** > > **Gas Fees**: > > The biggest issues for Ethereum are its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason small ERC20 transactions on DeFi platforms under $1000 are impractical. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Pretty ridiculous. > > [Typical transaction fees were between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $70 on several occasions. It's very common for popular exchanges to set withdrawal fees to a flat $20-50 for ERC20 transfers due to expensive and unpredictable Ethereum network fees. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees in early 2021 probably saw $100-$200 gas fees. Staking MATIC also costs expensive ERC20 gas fees. (So much for MATIC's claim to reduce ETH gas fees.) > > **Inflation**: > > Ethereum has no supply limit and is still inflationary. It did have [three deflationary days](https://www.theblockcrypto.com/data/on-chain-metrics/ethereum/net-eth-emission-after-eip-1559) in September 2021 after EIP-1557, but it's still net inflationary of ~5K ETH daily. As other competitors join the smart contract space, it's likely we'll see fewer deflationary days in the future. > > **Smart Contract Competition**: > > Ethereum has enjoyed its lead as the smart contract blockchain because it had so few competitors historically. Now we have tons of efficient smart contract competitors like Algorand, Solana, and Cardano. While Ethereum has an enormous lead in smart contract project adoption, it is likely to gradually lose market share to its competitors, which are ahead of it in terms of efficiency and technology. Who wants to pay $20 gas fees when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? This will mainly depend on whether the PoS consensus Ethereum 2.0 can arrive fast enough, and whether it can deliver its claims. For now, we are stuck with PoW Ethereum with almost no adoption for Layer 2. > > **Layer 2 issues**: > > Layer 2 solutions are still extremely early and almost have no adoption. Considering how long it takes exchanges to roll out Layer 2 networks, it'll probably be 6-12 months before I can use any Ethereum Layer 2 solutions on Coinbase. (Polygon network still isn't available on any of the biggest US exchanges after half a year of becoming popular and claiming hundreds of partnerships). The majority of platforms do not currently support Layer 2 rollup networks. Very few fiat onramping/offramping exchanges allow for Optimistic or zk-Rollups. ZK Rollups are very limited in use until they have coordination between exchanges that both support them. > > **L2 - Plasma** has been around since 2017, and I couldn't find anyone still using this state-channel solution. It's [more or less abandoned](https://medium.com/dragonfly-research/the-life-and-death-of-plasma-b72c6a59c5ad) in favor of rollups. I guess some Polygon bridges still use Plasma. It required lots of work and always-online overhead to monitor the side chain for misbehavior. You also need to pay the ERC20 gas fee twice when opening and closing the state channel. It has all the downsides to Lightning, which itself is facing lack of adoption. There is a super long challenge period to exit a side chain via Plasma, which means a 1 week settlement. And a mass exit would complete congest the Ethereum blockchain. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. > > **L2 - Optimistic Rollups are expensive and slow**: > > They settle in [1 week](https://vitalik.ca/general/2021/01/05/rollup.html) because there is a challenge period where anyone can submit a fraud-proof to show if there was an illegitimate transaction. People get anxious over 30-minute finality. How are they going to deal with 1 week settlement? Also, optimistic rollups are inherently insecure by design in order to reduce fees because they outsource validation offchain. The operator can influence transaction ordering. You can have faster withdrawals if you pay a market maker or verifier to jump in and swap your transaction, but why bother with the additional hassle and fees? I don't think the average crypto user will have any use cases for optimistic rollups. Optimistic rollups currently cost [$1-2 on Arbitrum One and Optimism](https://l2fees.info/). Unless you need to use a smart contract (which aren't supported on ZK Rollups), why would anyone anyone want to babysit their transactions for 1 week when ZK Rollups are faster, cheaper, and more secure? > > **L2 - ZK Rollup limitations**: > > ZK Rollup require special infrastructure to generate ZK Proofs. These are very computationally-expensive (potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly). On-chain cost of a ZK Rollup is cheap at about [$0.20 to $.40](https://l2fees.info/), but there is a separate infrastructure cost that is rarely mentioned. Loopring is rolling up its costs into its trading fees, currently 0.80%, so their feeless transfer claims are misleading. For transfers of $10K, that's $80 of fees. In any case, even at $0.40, these are still ~100x more expensive than transferring microtransaction-friendly coins such as XLM, XRP, Nano, etc. FWIW, it's a huge improvement over current Layer 1 costs ... when the platforms I use support them some year in the future. The big limitation is that smart contracts can't use ZK Rollups. > > **Ethereum 2.0 arriving later than competitors**: > > Ethereum is separated into Casper FFG (Friendly Finality Gadget) and Casper CBC (Correct by Construction). Casper FFG is a BFT PoS consensus overlay of PoW based on the GHOST protocol. We don't have much details on Casper CBC since its design is still in progress. Its main purpose is to increase transaction speeds and reduce energy costs while sacrificing decentralization and security. > > The ETH 2.0 Beacon chain, a completely separate blockchain from ETH, won't merge with the main blockchain [until 2022](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving competitors plenty of time to steal a share of smart contract projects. Even then, Vitalik said that [scaling will still rely on ZK Rollups until the 64-chain sharding phase](https://decrypt.co/34204/ethereum-2-0-will-walk-and-roll-for-two-years-before-it-can-run) arriving later in 2022 or 2023. It'll likely lose some market share to existing alternatives like Algo, Solana, Cardano, and others. > > Unlike Cardano PoS staking, Ethereum 2.0 PoS staking uses slashing. The system cannot tell between being offline or being censored. It's pretty damn scary. > 50% downtime is breakeven (unless there's no prepare + commit). Slash punishment can be very harsh. In the first months, we already had multiple examples of large slashings on the Beacon ETH 2.0 chain caused by simple errors: [Bugs](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) can cause slashing. [Timestamp](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) being off and cause slashing. QoS and [redundancy mistakes](https://medium.com/stakefish/ethereum-2-0-the-first-slash-a-retrospective-99e4fdcd563a) can cause slashing. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz4vav/rcc_cointest_top_10_ethereum_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

He has over half a billion in MATIC alone. That's not mentioning all other coins. He's so poor indeed waaaaaa

Mentions:#MATIC

A lot of people think that the merge will for some reason make gas fees go lower and this is a big misconception. The merge will significantly drop power consumption (up to 99%) but the gas fees will remain high and quite possibly go even higher cause of increasing demand. DONT go dumping your MATIC tokens cause they'll most definitely go up in value

Mentions:#MATIC

Polygon is the most shilled while also the most popular as well Either way, bullish on MATIC

Mentions:#MATIC

I hodl MATIC and DOT. The latter offers me a good 40% APY on Equilibrium while also giving me access to support projects gain a parachain slot via my liquid DOT. Also, I get rewarded some tokens as bonus for participating. I was able to acquire EQ, ACA, and PDX through this. MATIC and DOT are good long-term HODL if I'm to offer my two cents.

I think MATIC is OK-ish but it had something shady attached to its ecosystem kind of like ALGO ASAs. I hold some CRO, but after UST I wouldn’t trust any projects with questionable leadership attached to it. People mentioned MCO/Monaco and I didn’t think much of it. Then UST/LUNA opened my eyes, most shady people don’t change.

Great point about the fund managers. You can also take that analogy a step further and ask why Meta, Stripe, DraftKings, Sports Illustrated, Associated Press, Ernst & Young, have all chosen to partner with Polygon (MATIC). They didnt chose random shitcoins 🤔

Mentions:#MATIC

I will buy more BNB, ETH, SOL, OCEAN, NGM, ATOM, MATIC during the bear market. Gradual DCA is my strategy as there is no perfect timing of the bottom so to say

#Polygon Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Polygon Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Background - Polygon is many-sided**. There's the main Polygon PoS network that acts as a sidechain to Ethereum, and then there are so many side projects, many of which deal with Layer 2: > > - MATIC: The main Polygon token, which is present on multiple networks > - Polygon PoS: The main Ethereum side-chain network that most are familiar with. It saves checkpoint state on the Ethereum network every [256 blocks (5 minutes)](https://research.binance.com/en/projects/matic-network). > - Polygon [Hermez](https://docs.hermez.io/#start-here-for-hermez-10-documentation): ZK-rollup Ethereum Layer 2 > - Polygon [Zero](https://blog.polygon.technology/introducing-plonky2/): A fast ZK-stark/ZK-snark hybrid solution built on the Plonky2 protocol. It proofs are theoretically [100x faster than current ZK proof calculations](https://blog.polygon.technology/zkverse-polygons-zero-knowledge-strategy-explained/). > - Polygon [Miden](https://blog.polygon.technology/polygon-announces-polygon-miden-a-stark-based-ethereum-compatible-rollup/): Stark-based ZK-rollup Ethereum layer 2 > - Polygon [Nightfall](https://blog.polygon.technology/zk-proofs-protocol-polygon-nightfall-launches-on-testnet-to-provide-low-cost-private-ethereum-transaction/): Enterprise version of Polygon that uses "ZK-Optimistic Rollups" (ZK proof for privacy and optimistic-rollup for scalability) > - Polygon Avail: Standalone network or side-chain solution > - Polygon Plasma Bridge: A legacy bridge that shouldn't be used anymore. > > This post will mainly focus on the Polygon PoS network. > > ------------------ > > **CONs** > > **Still requires the Ethereum network** > > The Polygon PoS network is a side chain for Ethereum. It has its own network security, but staking is still done on the Ethereum network and requires paying expensive Ethereum smart contract gas fees. > > Similarly, going from Layer 1 Ethereum to Polygon is mainly done through the Polygon PoS bridge, which also costs expensive Ethereum gas fees. (This will gradually phase out as more CEXs provide direct onramp to the Polygon PoS network.) > > **Has plenty of competitors** > > There are just too many competitors, which dilutes adoption and liquidity for Polygon's ecosystem. While Polygon PoS isn't a direct competitor to most Layer 2 rollups and monolithic "Ethereum killers" because it is designed from ground up to be Ethereum sidechain, it does experience indirect competition. And the other Polygon Layer 2 rollup projects are direct competitors. As of Jan 2021, Polygon Hermez is only in [17th place in TLV](https://l2beat.com/). > > **Less resistant to DDoS attacks** > > Like all networks with low transaction fees, it at risk to DDoS attacks since the barrier to making transactions is low > > In early Jan 2022, [Sunflowers Farm \(SFF\) unintentionally DDoS-attacked the Polygon PoS network](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) and completely congested the network because it was more profitable to play the game and spam transactions than pay network fees. Transaction fees shot up 20x. Eventually, a hacker exploited the SFF game and reduced its price to zero, and users rejoiced because it cleared the congestion. > > **Centralized governance of the PoS chain** > > Governance is currently centralized. > > The Polygon team single-handedly [increased the transaction fee from 1 to 30 Gwei in Oct 2021](https://thedefiant.io/polygon-transaction-fee-hike/) to combat spammers. They didn't communicate this with the community or ask for feedback ahead of time. > > The Polygon team also [secretly hard-forked the network](https://cryptobriefing.com/a-hacker-stole-1-6m-after-exploiting-a-polygon-bug/) by pushing out a patch 1 day after a hacker stole $1.6M from the network from the Polygon PoS genesis contract in Dec 2021. The team didn't publicize the reason for the emergency patch until over 3 weeks later. > > They have only very recently starting looking to decentralize governance through a [Polygon Ecosystem DAO](https://blog.polygon.technology/state-of-governance-decentralization/), but that could be a long time away. > > Also, the top 4 staking validators out of a total of 100 validators [own 49% of the supply](https://wallet.polygon.technology/staking/) of MATIC, but the staking validators are only used for validation and [block production](https://forum.matic.network/t/matic-system-overview-bor/126), not governance. > > **Split attention on multiple projects** > > For better or worse, Polygon is working on multiple Layer 2 solutions (Polygon PoS, Hermez, Zero, Miden, Nightfall, Avail) and constantly researching different protocols. This is a rather Google-like decision to have multiple competiting products where it becomes the Jack-of-all-trades, Master-of-none. Some of these protocols are really exciting, but the crypto community doesn't know about them because there are too many to focus on. > > **Tokenomics of MATIC Tokens** > > The MATIC token has limited utility. It's used for staking (validation and block production). Once the pool of staking rewards runs out of funds, all staking rewards will need to come from transaction fees, which are tiny. Currently only 75% of the coins are in circulation, and the Polygon Team has an ongoing [token release schedule](https://research.binance.com/en/projects/matic-network) for dumping tokens on the open market. > > ------------------ > > Disclaimer: I currently do not own any MATIC. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4yk4/coin_inquiries_round_polygon_conarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

Polygon {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.Submit an argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). **Moon prizes by award for the Coin Inquiries category are: **1st - 300, 2nd - 150, 3rd - 75, and Best Analysis - 500.** --- To submit an MATIC pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sife7l/coin_inquiries_polygon_proarguments_february_2022/). | To submit an MATIC con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifeam/coin_inquiries_polygon_conarguments_february_2022/).

Mentions:#MATIC

where do you store your MATIC?

Mentions:#MATIC

MATIC and THICCcoin

Mentions:#MATIC

MATIC is an L2 of ETH. It will never surpass ETH! You are really dreaming. LOL GLTA!!!

Mentions:#MATIC#ETH

The Daily discussion was about Facebook, Stripe, Adobe, DraftKings, Ernst & Young, Sports Illustrated, and others partnering with Polygon (MATIC). And then it was asked to list legitimate partnerships of your favorite coin, and why there were so few or none 🤔

Mentions:#MATIC

It’s ok, that was nonsense anyway. Facebook, Adobe, Ernst & Young, have all partnered with Polygon (MATIC). Follow the money, do not follow promises of high APY.

Mentions:#MATIC

Bullish on MATIC for sure

Mentions:#MATIC

#Ethereum Con-Arguments Below is an argument written by roberthonker which won 2nd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Taken from u\/maleficent_plankton's submission from last round** > > **Gas Fees**: > > The biggest issues for Ethereum are its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason small ERC20 transactions on DeFi platforms under $1000 are impractical. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Pretty ridiculous. > > [Typical transaction fees were between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $70 on several occasions. It's very common for popular exchanges to set withdrawal fees to a flat $20-50 for ERC20 transfers due to expensive and unpredictable Ethereum network fees. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees in early 2021 probably saw $100-$200 gas fees. Staking MATIC also costs expensive ERC20 gas fees. (So much for MATIC's claim to reduce ETH gas fees.) > > **Inflation**: > > Ethereum has no supply limit and is still inflationary. It did have [three deflationary days](https://www.theblockcrypto.com/data/on-chain-metrics/ethereum/net-eth-emission-after-eip-1559) in September 2021 after EIP-1557, but it's still net inflationary of ~5K ETH daily. As other competitors join the smart contract space, it's likely we'll see fewer deflationary days in the future. > > **Smart Contract Competition**: > > Ethereum has enjoyed its lead as the smart contract blockchain because it had so few competitors historically. Now we have tons of efficient smart contract competitors like Algorand, Solana, and Cardano. While Ethereum has an enormous lead in smart contract project adoption, it is likely to gradually lose market share to its competitors, which are ahead of it in terms of efficiency and technology. Who wants to pay $20 gas fees when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? This will mainly depend on whether the PoS consensus Ethereum 2.0 can arrive fast enough, and whether it can deliver its claims. For now, we are stuck with PoW Ethereum with almost no adoption for Layer 2. > > **Layer 2 issues**: > > Layer 2 solutions are still extremely early and almost have no adoption. Considering how long it takes exchanges to roll out Layer 2 networks, it'll probably be 6-12 months before I can use any Ethereum Layer 2 solutions on Coinbase. (Polygon network still isn't available on any of the biggest US exchanges after half a year of becoming popular and claiming hundreds of partnerships). The majority of platforms do not currently support Layer 2 rollup networks. Very few fiat onramping/offramping exchanges allow for Optimistic or zk-Rollups. ZK Rollups are very limited in use until they have coordination between exchanges that both support them. > > **L2 - Plasma** has been around since 2017, and I couldn't find anyone still using this state-channel solution. It's [more or less abandoned](https://medium.com/dragonfly-research/the-life-and-death-of-plasma-b72c6a59c5ad) in favor of rollups. I guess some Polygon bridges still use Plasma. It required lots of work and always-online overhead to monitor the side chain for misbehavior. You also need to pay the ERC20 gas fee twice when opening and closing the state channel. It has all the downsides to Lightning, which itself is facing lack of adoption. There is a super long challenge period to exit a side chain via Plasma, which means a 1 week settlement. And a mass exit would complete congest the Ethereum blockchain. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. > > **L2 - Optimistic Rollups are expensive and slow**: > > They settle in [1 week](https://vitalik.ca/general/2021/01/05/rollup.html) because there is a challenge period where anyone can submit a fraud-proof to show if there was an illegitimate transaction. People get anxious over 30-minute finality. How are they going to deal with 1 week settlement? Also, optimistic rollups are inherently insecure by design in order to reduce fees because they outsource validation offchain. The operator can influence transaction ordering. You can have faster withdrawals if you pay a market maker or verifier to jump in and swap your transaction, but why bother with the additional hassle and fees? I don't think the average crypto user will have any use cases for optimistic rollups. Optimistic rollups currently cost [$1-2 on Arbitrum One and Optimism](https://l2fees.info/). Unless you need to use a smart contract (which aren't supported on ZK Rollups), why would anyone anyone want to babysit their transactions for 1 week when ZK Rollups are faster, cheaper, and more secure? > > **L2 - ZK Rollup limitations**: > > ZK Rollup require special infrastructure to generate ZK Proofs. These are very computationally-expensive (potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly). On-chain cost of a ZK Rollup is cheap at about [$0.20 to $.40](https://l2fees.info/), but there is a separate infrastructure cost that is rarely mentioned. Loopring is rolling up its costs into its trading fees, currently 0.80%, so their feeless transfer claims are misleading. For transfers of $10K, that's $80 of fees. In any case, even at $0.40, these are still ~100x more expensive than transferring microtransaction-friendly coins such as XLM, XRP, Nano, etc. FWIW, it's a huge improvement over current Layer 1 costs ... when the platforms I use support them some year in the future. The big limitation is that smart contracts can't use ZK Rollups. > > **Ethereum 2.0 arriving later than competitors**: > > Ethereum is separated into Casper FFG (Friendly Finality Gadget) and Casper CBC (Correct by Construction). Casper FFG is a BFT PoS consensus overlay of PoW based on the GHOST protocol. We don't have much details on Casper CBC since its design is still in progress. Its main purpose is to increase transaction speeds and reduce energy costs while sacrificing decentralization and security. > > The ETH 2.0 Beacon chain, a completely separate blockchain from ETH, won't merge with the main blockchain [until 2022](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving competitors plenty of time to steal a share of smart contract projects. Even then, Vitalik said that [scaling will still rely on ZK Rollups until the 64-chain sharding phase](https://decrypt.co/34204/ethereum-2-0-will-walk-and-roll-for-two-years-before-it-can-run) arriving later in 2022 or 2023. It'll likely lose some market share to existing alternatives like Algo, Solana, Cardano, and others. > > Unlike Cardano PoS staking, Ethereum 2.0 PoS staking uses slashing. The system cannot tell between being offline or being censored. It's pretty damn scary. > 50% downtime is breakeven (unless there's no prepare + commit). Slash punishment can be very harsh. In the first months, we already had multiple examples of large slashings on the Beacon ETH 2.0 chain caused by simple errors: [Bugs](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) can cause slashing. [Timestamp](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) being off and cause slashing. QoS and [redundancy mistakes](https://medium.com/stakefish/ethereum-2-0-the-first-slash-a-retrospective-99e4fdcd563a) can cause slashing. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz4vav/rcc_cointest_top_10_ethereum_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

#Ethereum Con-Arguments Below is an argument written by roberthonker which won 2nd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Taken from u\/maleficent_plankton's submission from last round** > > **Gas Fees**: > > The biggest issues for Ethereum are its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason small ERC20 transactions on DeFi platforms under $1000 are impractical. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Pretty ridiculous. > > [Typical transaction fees were between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $70 on several occasions. It's very common for popular exchanges to set withdrawal fees to a flat $20-50 for ERC20 transfers due to expensive and unpredictable Ethereum network fees. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees in early 2021 probably saw $100-$200 gas fees. Staking MATIC also costs expensive ERC20 gas fees. (So much for MATIC's claim to reduce ETH gas fees.) > > **Inflation**: > > Ethereum has no supply limit and is still inflationary. It did have [three deflationary days](https://www.theblockcrypto.com/data/on-chain-metrics/ethereum/net-eth-emission-after-eip-1559) in September 2021 after EIP-1557, but it's still net inflationary of ~5K ETH daily. As other competitors join the smart contract space, it's likely we'll see fewer deflationary days in the future. > > **Smart Contract Competition**: > > Ethereum has enjoyed its lead as the smart contract blockchain because it had so few competitors historically. Now we have tons of efficient smart contract competitors like Algorand, Solana, and Cardano. While Ethereum has an enormous lead in smart contract project adoption, it is likely to gradually lose market share to its competitors, which are ahead of it in terms of efficiency and technology. Who wants to pay $20 gas fees when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? This will mainly depend on whether the PoS consensus Ethereum 2.0 can arrive fast enough, and whether it can deliver its claims. For now, we are stuck with PoW Ethereum with almost no adoption for Layer 2. > > **Layer 2 issues**: > > Layer 2 solutions are still extremely early and almost have no adoption. Considering how long it takes exchanges to roll out Layer 2 networks, it'll probably be 6-12 months before I can use any Ethereum Layer 2 solutions on Coinbase. (Polygon network still isn't available on any of the biggest US exchanges after half a year of becoming popular and claiming hundreds of partnerships). The majority of platforms do not currently support Layer 2 rollup networks. Very few fiat onramping/offramping exchanges allow for Optimistic or zk-Rollups. ZK Rollups are very limited in use until they have coordination between exchanges that both support them. > > **L2 - Plasma** has been around since 2017, and I couldn't find anyone still using this state-channel solution. It's [more or less abandoned](https://medium.com/dragonfly-research/the-life-and-death-of-plasma-b72c6a59c5ad) in favor of rollups. I guess some Polygon bridges still use Plasma. It required lots of work and always-online overhead to monitor the side chain for misbehavior. You also need to pay the ERC20 gas fee twice when opening and closing the state channel. It has all the downsides to Lightning, which itself is facing lack of adoption. There is a super long challenge period to exit a side chain via Plasma, which means a 1 week settlement. And a mass exit would complete congest the Ethereum blockchain. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. > > **L2 - Optimistic Rollups are expensive and slow**: > > They settle in [1 week](https://vitalik.ca/general/2021/01/05/rollup.html) because there is a challenge period where anyone can submit a fraud-proof to show if there was an illegitimate transaction. People get anxious over 30-minute finality. How are they going to deal with 1 week settlement? Also, optimistic rollups are inherently insecure by design in order to reduce fees because they outsource validation offchain. The operator can influence transaction ordering. You can have faster withdrawals if you pay a market maker or verifier to jump in and swap your transaction, but why bother with the additional hassle and fees? I don't think the average crypto user will have any use cases for optimistic rollups. Optimistic rollups currently cost [$1-2 on Arbitrum One and Optimism](https://l2fees.info/). Unless you need to use a smart contract (which aren't supported on ZK Rollups), why would anyone anyone want to babysit their transactions for 1 week when ZK Rollups are faster, cheaper, and more secure? > > **L2 - ZK Rollup limitations**: > > ZK Rollup require special infrastructure to generate ZK Proofs. These are very computationally-expensive (potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly). On-chain cost of a ZK Rollup is cheap at about [$0.20 to $.40](https://l2fees.info/), but there is a separate infrastructure cost that is rarely mentioned. Loopring is rolling up its costs into its trading fees, currently 0.80%, so their feeless transfer claims are misleading. For transfers of $10K, that's $80 of fees. In any case, even at $0.40, these are still ~100x more expensive than transferring microtransaction-friendly coins such as XLM, XRP, Nano, etc. FWIW, it's a huge improvement over current Layer 1 costs ... when the platforms I use support them some year in the future. The big limitation is that smart contracts can't use ZK Rollups. > > **Ethereum 2.0 arriving later than competitors**: > > Ethereum is separated into Casper FFG (Friendly Finality Gadget) and Casper CBC (Correct by Construction). Casper FFG is a BFT PoS consensus overlay of PoW based on the GHOST protocol. We don't have much details on Casper CBC since its design is still in progress. Its main purpose is to increase transaction speeds and reduce energy costs while sacrificing decentralization and security. > > The ETH 2.0 Beacon chain, a completely separate blockchain from ETH, won't merge with the main blockchain [until 2022](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving competitors plenty of time to steal a share of smart contract projects. Even then, Vitalik said that [scaling will still rely on ZK Rollups until the 64-chain sharding phase](https://decrypt.co/34204/ethereum-2-0-will-walk-and-roll-for-two-years-before-it-can-run) arriving later in 2022 or 2023. It'll likely lose some market share to existing alternatives like Algo, Solana, Cardano, and others. > > Unlike Cardano PoS staking, Ethereum 2.0 PoS staking uses slashing. The system cannot tell between being offline or being censored. It's pretty damn scary. > 50% downtime is breakeven (unless there's no prepare + commit). Slash punishment can be very harsh. In the first months, we already had multiple examples of large slashings on the Beacon ETH 2.0 chain caused by simple errors: [Bugs](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) can cause slashing. [Timestamp](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) being off and cause slashing. QoS and [redundancy mistakes](https://medium.com/stakefish/ethereum-2-0-the-first-slash-a-retrospective-99e4fdcd563a) can cause slashing. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz4vav/rcc_cointest_top_10_ethereum_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

Is it 100% safe to use the Polygon (MATIC) network (as an alternative to the classic ETH network) for transferring USDC between wallets? I'm wondering this from a technology point of view as the fees for using MATIC are around 10x lower compared to ETH. So, I'm basically asking myself if there would be any reasons for not using MATIC over ETH when you want to transfer higher sums of USDC from one exchange to antoher (e.g. binance to nexo).

MATIC will always be one of my favourite projects

Mentions:#MATIC

#Polygon Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Polygon Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Background - Polygon is many-sided**. There's the main Polygon PoS network that acts as a sidechain to Ethereum, and then there are so many side projects, many of which deal with Layer 2: > > - MATIC: The main Polygon token, which is present on multiple networks > - Polygon PoS: The main Ethereum side-chain network that most are familiar with. It saves checkpoint state on the Ethereum network every [256 blocks (5 minutes)](https://research.binance.com/en/projects/matic-network). > - Polygon [Hermez](https://docs.hermez.io/#start-here-for-hermez-10-documentation): ZK-rollup Ethereum Layer 2 > - Polygon [Zero](https://blog.polygon.technology/introducing-plonky2/): A fast ZK-stark/ZK-snark hybrid solution built on the Plonky2 protocol. It proofs are theoretically [100x faster than current ZK proof calculations](https://blog.polygon.technology/zkverse-polygons-zero-knowledge-strategy-explained/). > - Polygon [Miden](https://blog.polygon.technology/polygon-announces-polygon-miden-a-stark-based-ethereum-compatible-rollup/): Stark-based ZK-rollup Ethereum layer 2 > - Polygon [Nightfall](https://blog.polygon.technology/zk-proofs-protocol-polygon-nightfall-launches-on-testnet-to-provide-low-cost-private-ethereum-transaction/): Enterprise version of Polygon that uses "ZK-Optimistic Rollups" (ZK proof for privacy and optimistic-rollup for scalability) > - Polygon Avail: Standalone network or side-chain solution > - Polygon Plasma Bridge: A legacy bridge that shouldn't be used anymore. > > This post will mainly focus on the Polygon PoS network. > > ------------------ > > **CONs** > > **Still requires the Ethereum network** > > The Polygon PoS network is a side chain for Ethereum. It has its own network security, but staking is still done on the Ethereum network and requires paying expensive Ethereum smart contract gas fees. > > Similarly, going from Layer 1 Ethereum to Polygon is mainly done through the Polygon PoS bridge, which also costs expensive Ethereum gas fees. (This will gradually phase out as more CEXs provide direct onramp to the Polygon PoS network.) > > **Has plenty of competitors** > > There are just too many competitors, which dilutes adoption and liquidity for Polygon's ecosystem. While Polygon PoS isn't a direct competitor to most Layer 2 rollups and monolithic "Ethereum killers" because it is designed from ground up to be Ethereum sidechain, it does experience indirect competition. And the other Polygon Layer 2 rollup projects are direct competitors. As of Jan 2021, Polygon Hermez is only in [17th place in TLV](https://l2beat.com/). > > **Less resistant to DDoS attacks** > > Like all networks with low transaction fees, it at risk to DDoS attacks since the barrier to making transactions is low > > In early Jan 2022, [Sunflowers Farm \(SFF\) unintentionally DDoS-attacked the Polygon PoS network](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) and completely congested the network because it was more profitable to play the game and spam transactions than pay network fees. Transaction fees shot up 20x. Eventually, a hacker exploited the SFF game and reduced its price to zero, and users rejoiced because it cleared the congestion. > > **Centralized governance of the PoS chain** > > Governance is currently centralized. > > The Polygon team single-handedly [increased the transaction fee from 1 to 30 Gwei in Oct 2021](https://thedefiant.io/polygon-transaction-fee-hike/) to combat spammers. They didn't communicate this with the community or ask for feedback ahead of time. > > The Polygon team also [secretly hard-forked the network](https://cryptobriefing.com/a-hacker-stole-1-6m-after-exploiting-a-polygon-bug/) by pushing out a patch 1 day after a hacker stole $1.6M from the network from the Polygon PoS genesis contract in Dec 2021. The team didn't publicize the reason for the emergency patch until over 3 weeks later. > > They have only very recently starting looking to decentralize governance through a [Polygon Ecosystem DAO](https://blog.polygon.technology/state-of-governance-decentralization/), but that could be a long time away. > > Also, the top 4 staking validators out of a total of 100 validators [own 49% of the supply](https://wallet.polygon.technology/staking/) of MATIC, but the staking validators are only used for validation and [block production](https://forum.matic.network/t/matic-system-overview-bor/126), not governance. > > **Split attention on multiple projects** > > For better or worse, Polygon is working on multiple Layer 2 solutions (Polygon PoS, Hermez, Zero, Miden, Nightfall, Avail) and constantly researching different protocols. This is a rather Google-like decision to have multiple competiting products where it becomes the Jack-of-all-trades, Master-of-none. Some of these protocols are really exciting, but the crypto community doesn't know about them because there are too many to focus on. > > **Tokenomics of MATIC Tokens** > > The MATIC token has limited utility. It's used for staking (validation and block production). Once the pool of staking rewards runs out of funds, all staking rewards will need to come from transaction fees, which are tiny. Currently only 75% of the coins are in circulation, and the Polygon Team has an ongoing [token release schedule](https://research.binance.com/en/projects/matic-network) for dumping tokens on the open market. > > ------------------ > > Disclaimer: I currently do not own any MATIC. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4yk4/coin_inquiries_round_polygon_conarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

Polygon {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.Submit an argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). **Moon prizes by award for the Coin Inquiries category are: **1st - 300, 2nd - 150, 3rd - 75, and Best Analysis - 500.** --- To submit an MATIC pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sife7l/coin_inquiries_polygon_proarguments_february_2022/). | To submit an MATIC con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifeam/coin_inquiries_polygon_conarguments_february_2022/).

Mentions:#MATIC

The adults in the room are already taking care of this. Ernst & Young and Polygon (MATIC) are working on implementing supply chain tracking. https://www.coindesk.com/business/2022/05/17/ey-unveils-supply-chain-manager-on-polygon-network/

Mentions:#MATIC

Have just added BTC, ETH, OGN and MATIC to my bag as well. The plan is for the long term, so I am not ready to sell any time soon.

Yea not surprising consider they just announced to work with MATIC for their NFTs They do a lot towards crypto lately

Mentions:#MATIC

I want to buy some but due to lack of the money i am not buying anything now. But i have my eyes on the Bitcoin, ETH i know it's obvious choice, other than that is DOT and MATIC.

Yeah but luckily I had some stables cause I was predicting a crash would happen. Got some $LOCG $MATIC $ETH for cheap :)

My experience is that they themselves have fucked up somewhere along the line, be it stocks or Crypto and then want to see others fail. I went in big on MATIC at $1.41 before it dropped and a work colleague who lost a lot of money on TEL thought it was hilarious.

Mentions:#MATIC#TEL

Is MATIC considered a shit coin?

Mentions:#MATIC

If you’re not holding ETH or some other cryptocurrency that has high gas fees you should **always ** look into their native wallets and transfer out of exchanges. No matter how much you trust your exchange, you want to avoid another [Mt. Gox](https://en.wikipedia.org/wiki/Mt._Gox) incident. If you do own ETH or any token that uses the ETH blockchain then websites such as [this](https://etherscan.io/gastracker) can help you with finding the optimum time to take out your ETH(you could also look into bridging to LRC/MATIC).

DOT-just based on leadership and coinomic. To a lesser degree, ALGO-based on leadership and experience using it. Caution because of the ASAs. ADAs kind of hesitant about of the leadership but he seems way nicer than Do Kwon. And many partnerships like DOT and ALGO. XRP stands the test of time. MATIC history of rug pull on network so I’m cautious. CRO—after LUNA/UST—I feel like can’t trust organization with questionable past/leadership (Monaco/MCO/sudden unannounced changes) Again after LUNA/UST, I hope we that didn’t learn learned something this time. Beware of shills. LUNA/UST were shilled heavily, nobody mentioned do kwon previous failed stable coin. Given CRO Hx, why would anyone (including myself) risk it? For massive gains that may also be massive losses? In a nutshell, for myself, DOT>ALGO/ADA/XRP>MATIC>>>CRO

Put my bonus fiat into BTC, ETH, MATIC, and THICCcoin. Accumulation period in full throttle for me.

#Ethereum Con-Arguments Below is an argument written by roberthonker which won 2nd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Taken from u\/maleficent_plankton's submission from last round** > > **Gas Fees**: > > The biggest issues for Ethereum are its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason small ERC20 transactions on DeFi platforms under $1000 are impractical. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Pretty ridiculous. > > [Typical transaction fees were between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $70 on several occasions. It's very common for popular exchanges to set withdrawal fees to a flat $20-50 for ERC20 transfers due to expensive and unpredictable Ethereum network fees. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees in early 2021 probably saw $100-$200 gas fees. Staking MATIC also costs expensive ERC20 gas fees. (So much for MATIC's claim to reduce ETH gas fees.) > > **Inflation**: > > Ethereum has no supply limit and is still inflationary. It did have [three deflationary days](https://www.theblockcrypto.com/data/on-chain-metrics/ethereum/net-eth-emission-after-eip-1559) in September 2021 after EIP-1557, but it's still net inflationary of ~5K ETH daily. As other competitors join the smart contract space, it's likely we'll see fewer deflationary days in the future. > > **Smart Contract Competition**: > > Ethereum has enjoyed its lead as the smart contract blockchain because it had so few competitors historically. Now we have tons of efficient smart contract competitors like Algorand, Solana, and Cardano. While Ethereum has an enormous lead in smart contract project adoption, it is likely to gradually lose market share to its competitors, which are ahead of it in terms of efficiency and technology. Who wants to pay $20 gas fees when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? This will mainly depend on whether the PoS consensus Ethereum 2.0 can arrive fast enough, and whether it can deliver its claims. For now, we are stuck with PoW Ethereum with almost no adoption for Layer 2. > > **Layer 2 issues**: > > Layer 2 solutions are still extremely early and almost have no adoption. Considering how long it takes exchanges to roll out Layer 2 networks, it'll probably be 6-12 months before I can use any Ethereum Layer 2 solutions on Coinbase. (Polygon network still isn't available on any of the biggest US exchanges after half a year of becoming popular and claiming hundreds of partnerships). The majority of platforms do not currently support Layer 2 rollup networks. Very few fiat onramping/offramping exchanges allow for Optimistic or zk-Rollups. ZK Rollups are very limited in use until they have coordination between exchanges that both support them. > > **L2 - Plasma** has been around since 2017, and I couldn't find anyone still using this state-channel solution. It's [more or less abandoned](https://medium.com/dragonfly-research/the-life-and-death-of-plasma-b72c6a59c5ad) in favor of rollups. I guess some Polygon bridges still use Plasma. It required lots of work and always-online overhead to monitor the side chain for misbehavior. You also need to pay the ERC20 gas fee twice when opening and closing the state channel. It has all the downsides to Lightning, which itself is facing lack of adoption. There is a super long challenge period to exit a side chain via Plasma, which means a 1 week settlement. And a mass exit would complete congest the Ethereum blockchain. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. > > **L2 - Optimistic Rollups are expensive and slow**: > > They settle in [1 week](https://vitalik.ca/general/2021/01/05/rollup.html) because there is a challenge period where anyone can submit a fraud-proof to show if there was an illegitimate transaction. People get anxious over 30-minute finality. How are they going to deal with 1 week settlement? Also, optimistic rollups are inherently insecure by design in order to reduce fees because they outsource validation offchain. The operator can influence transaction ordering. You can have faster withdrawals if you pay a market maker or verifier to jump in and swap your transaction, but why bother with the additional hassle and fees? I don't think the average crypto user will have any use cases for optimistic rollups. Optimistic rollups currently cost [$1-2 on Arbitrum One and Optimism](https://l2fees.info/). Unless you need to use a smart contract (which aren't supported on ZK Rollups), why would anyone anyone want to babysit their transactions for 1 week when ZK Rollups are faster, cheaper, and more secure? > > **L2 - ZK Rollup limitations**: > > ZK Rollup require special infrastructure to generate ZK Proofs. These are very computationally-expensive (potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly). On-chain cost of a ZK Rollup is cheap at about [$0.20 to $.40](https://l2fees.info/), but there is a separate infrastructure cost that is rarely mentioned. Loopring is rolling up its costs into its trading fees, currently 0.80%, so their feeless transfer claims are misleading. For transfers of $10K, that's $80 of fees. In any case, even at $0.40, these are still ~100x more expensive than transferring microtransaction-friendly coins such as XLM, XRP, Nano, etc. FWIW, it's a huge improvement over current Layer 1 costs ... when the platforms I use support them some year in the future. The big limitation is that smart contracts can't use ZK Rollups. > > **Ethereum 2.0 arriving later than competitors**: > > Ethereum is separated into Casper FFG (Friendly Finality Gadget) and Casper CBC (Correct by Construction). Casper FFG is a BFT PoS consensus overlay of PoW based on the GHOST protocol. We don't have much details on Casper CBC since its design is still in progress. Its main purpose is to increase transaction speeds and reduce energy costs while sacrificing decentralization and security. > > The ETH 2.0 Beacon chain, a completely separate blockchain from ETH, won't merge with the main blockchain [until 2022](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving competitors plenty of time to steal a share of smart contract projects. Even then, Vitalik said that [scaling will still rely on ZK Rollups until the 64-chain sharding phase](https://decrypt.co/34204/ethereum-2-0-will-walk-and-roll-for-two-years-before-it-can-run) arriving later in 2022 or 2023. It'll likely lose some market share to existing alternatives like Algo, Solana, Cardano, and others. > > Unlike Cardano PoS staking, Ethereum 2.0 PoS staking uses slashing. The system cannot tell between being offline or being censored. It's pretty damn scary. > 50% downtime is breakeven (unless there's no prepare + commit). Slash punishment can be very harsh. In the first months, we already had multiple examples of large slashings on the Beacon ETH 2.0 chain caused by simple errors: [Bugs](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) can cause slashing. [Timestamp](https://medium.com/prysmatic-labs/eth2-medalla-testnet-incident-f7fbc3cc934a) being off and cause slashing. QoS and [redundancy mistakes](https://medium.com/stakefish/ethereum-2-0-the-first-slash-a-retrospective-99e4fdcd563a) can cause slashing. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz4vav/rcc_cointest_top_10_ethereum_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

It is very clear that every crypto investor would have their top picks for the week, my picks would be ETH, BNB, MATIC, SFP, and TXA.

This is something I've been doing since the recent dip started. I've DCA into MATIC, PNK, AXL and ATLAS. They're all safe to hold for a long time, and I'm already staking MATIC on Coinbase and AXL on their launchpad for vast rewards.

Finally someone holding the DOT and MATIC at a same time.

Mentions:#DOT#MATIC

Mine is not a gamble. I am DCAing MATIC and MUST basically because I am staking them on Cometh swap.

Mentions:#MATIC

ETH and BTC are all that i'm holding but i'm really liking where MATIC is going, huge news with them teaming up with Instagram/Meta, if it wasn't for this whole LUNA implosion on the same day of that announcement it would have been huge news So i'm going to shill MATIC to you even if i don't yet hold any (until next pay day)

#Cardano Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > It has been a really tough couple of months for Cardano ever since Alonzo release revealed that it's very difficult to build a DEX for eUXTO transactions. The warnings I stated in my previous contest post have come true. I've still been following the Cardano subreddit, but it has become depressing watching everyone feed on the leftover fumes of hopium. > > **Cardano Cons:** > > - **Still no DEX**: [Concurrency failures for Minswap Dex](https://www.cryptoglobe.com/latest/2021/09/cardano-founder-deals-with-concurrency-fud-a-second-japanese-exchange-lists-ada/) during Alonzo smart contract test revealed that it's much harder to develop a DEX on Cardano smart contracts. There is currently no clean solution, and developers will need to work around this limitation of eUXTOs. Back in September, SundaeSwap published [a detailed explaination of the concurrency issues](https://sundaeswap-finance.medium.com/concurrency-state-cardano-c160f8c07575) plaguing Cardano. Proposed solutions involved centralization of the smart contract and using multiple UXTOs on a higher layer that would later settle on Layer 1. While the article was initially villified as FUD, it soon became apparent that they were right. In fact, 3 months later, there still is no working DEX. Among the dozens of competitors building a DEX, SundaeSwap is the closest to developing one. They released [an incomplete and slightly-buggy DEX](https://cryptobriefing.com/sundaeswap-promises-first-functional-dex-on-cardano/) on the testnet, but they are still far from a working release. > - **Programming adoption**: For Cardano's Plutus smart contract, Haskell is not a well-liked programming language and feels arcane in comparison the Javascript-like language of Ethereum's Solidity. It's going to be difficult to onboard smart contract developers, especially since Ethereum is already so far ahead on adoption. And many other smart contract DLTs have also joined the bandwagon and support Solidity. Cardano is alone on Haskell, making it expensive to develop for it. > - **Transaction speed**: ADA's current transaction speed is about 7 TPS due to lack of need, which can [scale to 257 TPS](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano) without additional updates. Top scaling is 1000 TPS without Hydra Layer 2 scaling. This is still nowhere near the limits needed for global adoption on Layer 1. Many of its competitors like Solana, Polygon, Algorand, and Terra, have surpassed its TPS. > * **Overall Delays**: Cardano's development has been extremely slow and delayed so much that ... > * **Its competitors have caught up**: Cardano has fallen from #3 in market cap to #6 after Solana passed it. There are so many (monolithic Layer 1) Ethereum competitors that can already do smart contracts with DEXs more efficiently with higher scalability than Cardano: Polygon, Terra, Algorand, Elrond. The academic researcher crowd that Cardano was targeting has moved onto supporting Algorand. Even if Cardano releases a working DEX, they're technologically-behind their competitors. > * **Fees**: Cardano Transactions [fees](https://messari.io/asset/cardano/chart/txn-fee-avg) are currently about $0.30 - 0.40 USD as of Dec 2021. These are cheaper than BTC transaction fees of ~5 USD and much cheaper than basic Ethereum transaction fees of 5-30+ USD. They're way more expensive than those of other many other altcoins. Nano, ALGO, XLM, XRP, DASH, BCH, and MATIC fees are all below $0.01 on average, which makes them appropriate for microtransactions. > - **Scaling** via Hydra and sharding is far away on their timeline (Basho update maybe Q2 2022 if there are no further delays). Hydra also uses multi-party state channels, which are not as simple or convenient to use as Layer 1. We still have scant information of the protocol on a detailed level. > - **Storage inefficiency**: Cardano: [12.26M transactions in 10.76 GB](https://blockchair.com/cardano) = 880 bytes / transaction. Ethereum: [1.27B transactions in 279 GB](https://blockchair.com/ethereum) = 218 bytes / transaction. Ethereum is 4x more storage-efficient even before Cardano releases smart contracts. If Cardano were to scale to 1000 TPS, it would increase its blocksize by at least 30 TB per year. > - **Diminishing Staking Rewards in the long run**: Cardano is currently inflationary to about [5-6% annually](https://solberginvest.com/blog/is-cardano-deflationary/). The inflation by itself isn't bad, but it's coming from a diminishing rewards pool that will gradually disappear by 2030. In just 4 years from now, the staking reward will drop to 2-3% unless transaction fees rise drastically to replace the rewards pool. If it drops that low, people will stop staking Cardano, leading to less security and decentralization. > > Disclosure: I own a tiny bit of ADA. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz477r/rcc_cointest_top_10_cardano_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

He didn’t ask to be a public figure, he just is. Kevin O’Leary was on the breakfast club talking about him thinking that Crypto is gonna be the 12th sector of the economy and how he’s invested in BTC, ETH, SOL, HEL, MATIC, etc… is he manipulating markets? No, because nobody gives a shit about what Mr.Wonderful says on a podcast. Tim Cook says he owns Ethereum, is he manipulating markets? No because nobody gives a fuck about what Tim Cook has to say about crypto even though he shilled Eth. Elon Musk “dang Bitcoin uses alot of energy, that’s not very good I don’t like that”. The value drops and SOMEHOW, it’s HIS fault. Not the publics fault, Elon’s fault, although he did exactly what Kevin and Tim did the only difference is that he’s Elon and the world views him as some sort of FinTech Prophet. 🤦‍♂️🤦‍♂️🤦‍♂️ the lack of accountability for the public is insane.

For ETH, your best bet is to use Polygon/MATIC for reduced fees. Even then you have to time your transfers during inactive times. BSC is also another option.

Mentions:#ETH#MATIC

My boi MATIC staying perfect at 0.69$

Mentions:#MATIC

Congrats ! Beside the kings BTC and ETH I got myself some DOT, MATIC, ADA

My bear market strategy consists of simply buying dips in my favorite tokens such as BTC, ETH, SOL, MATIC, and GMT, as well as investing in gamified projects such as Angrymals, Xchangers, and looking forward to the full launch of Honeyland because of its incredible community and its contribution to the growth of the Solana blockchain.

I'm curious as to what kind of return you'll get if you invest 1% of a 1000 in those coins. From this, I'll take ATOM, ALGO, MATIC, and add FLUID, TRIAS, and KCS.

#Ethereum Con-Arguments Below is an argument written by roberthonker which won 2nd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Taken from u\/maleficent_plankton's submission from last round** > > **Gas Fees**: > > The biggest issues for Ethereum are its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason small ERC20 transactions on DeFi platforms under $1000 are impractical. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Pretty ridiculous. > > [Typical transaction fees were between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $70 on several occasions. It's very common for popular exchanges to set withdrawal fees to a flat $20-50 for ERC20 transfers due to expensive and unpredictable Ethereum network fees. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees in early 2021 probably saw $100-$200 gas fees. Staking MATIC also costs expensive ERC20 gas fees. (So much for MATIC's claim to reduce ETH gas fees.) > > **Inflation**: > > Ethereum has no supply limit and is still inflationary. It did have [three deflationary days](https://www.theblockcrypto.com/data/on-chain-metrics/ethereum/net-eth-emission-after-eip-1559) in September 2021 after EIP-1557, but it's still net inflationary of ~5K ETH daily. As other competitors join the smart contract space, it's likely we'll see fewer deflationary days in the future. > > **Smart Contract Competition**: > > Ethereum has enjoyed its lead as the smart contract blockchain because it had so few competitors historically. Now we have tons of efficient smart contract competitors like Algorand, Solana, and Cardano. While Ethereum has an enormous lead in smart contract project adoption, it is likely to gradually lose market share to its competitors, which are ahead of it in terms of efficiency and technology. Who wants to pay $20 gas fees when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? This will mainly depend on whether the PoS consensus Ethereum 2.0 can arrive fast enough, and whether it can deliver its claims. For now, we are stuck with PoW Ethereum with almost no adoption for Layer 2. > > **Layer 2 issues**: > > Layer 2 solutions are still extremely early and almost have no adoption. Considering how long it takes exchanges to roll out Layer 2 networks, it'll probably be 6-12 months before I can use any Ethereum Layer 2 solutions on Coinbase. (Polygon network still isn't available on any of the biggest US exchanges after half a year of becoming popular and claiming hundreds of partnerships). The majority of platforms do not currently support Layer 2 rollup networks. Very few fiat onramping/offramping exchanges allow for Optimistic or zk-Rollups. ZK Rollups are very limited in use until they have coordination between exchanges that both support them. > > **L2 - Plasma** has been around since 2017, and I couldn't find anyone still using this state-channel solution. It's [more or less abandoned](https://medium.com/dragonfly-research/the-life-and-death-of-plasma-b72c6a59c5ad) in favor of rollups. I guess some Polygon bridges still use Plasma. It required lots of work and always-online overhead to monitor the side chain for misbehavior. You also need to pay the ERC20 gas fee twice when opening and closing the state channel. It has all the downsides to Lightning, which itself is facing lack of adoption. There is a super long challenge period to exit a side chain via Plasma, which means a 1 week settlement. And a mass exit would complete congest the Ethereum blockchain. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. > > **L2 - Optimistic Rollups are expensive and slow**: > > They settle in [1 week](https://vitalik.ca/general/2021/01/05/rollup.html) because there is a challenge period where anyone can submit a fraud-proof to show if there was an illegitimate transaction. People get anxious over 30-minute finality. How are they going to deal with 1 week settlement? Also, optimistic rollups are inherently insecure by design in order to reduce fees because they outsource validation offchain. The operator can influence transaction ordering. You can have faster withdrawals if you pay a market maker or verifier to jump in and swap your transaction, but why bother with the additional hassle and fees? I don't think the average crypto user will have any use cases for optimistic rollups. Optimistic rollups currently cost [$1-2 on Arbitrum One and Optimism](https://l2fees.info/). Unless you need to use a smart contract (which aren't supported on ZK Rollups), why would anyone anyone want to babysit their transactions for 1 week when ZK Rollups are faster, cheaper, and more secure? > > **L2 - ZK Rollup limitations**: > > ZK Rollup require special infrastructure to generate ZK Proofs. These are very computationally-expensive (potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly). On-chain cost of a ZK Rollup is cheap at about [$0.20 to $.40](https://l2fees.info/), but there is a separate infrastructure cost that is rarely mentioned. Loopring is rolling up its costs into its trading fees, currently 0.80%, so their feeless transfer claims are misleading. For transfers of $10K, that's $80 of fees. In any case, even at $0.40, these are still ~100x more expensive than tran