THELOGICALINDIAN - Crypto Briefing interviewed Polygons cofounder Sandeep Nailwal
Ethereum’s absonant gas fees accept fabricated account all year long. But for every aqueduct lies a business. And one fast-rising brilliant in the scalability chase is Polygon (previously Matic), a sidechain arrangement that is boring acceptable a additional home to abounding Ethereum projects. To dig deep, CryptoBriefing interviews Sandeep Nailwal, co-founder of Polygon.
How Polygon Reduced Costs to Pennies
Since October 2024, the absolute amount bound on Polygon has developed from beneath than $5 actor to ~$830 actor at columnist time, as per abstracts from The Block.
Much of the contempo advance on Polygon has taken abode on its EVM-compatible blockchain that leverages the Plasma ascent solution. The Proof-of-Stake (PoS) blockchain functions as a arch for Ethereum and boasts up to 65,000 affairs per additional (TPS) with a block time of two seconds.
In contempo times, abounding arch Ethereum dApps accept ported their affairs to Polygon’s Plasma-PoS chain. The account includes accepted DeFi protocols (Aave, Sushiswap), blockchain amateur (Avegotchi, Decentraland, Atari), anticipation markets (Polymarket), and NFT projects (OpenSea, SuperFarm). Infrastructure projects such as Graph and Chainlink accept broadcast to Polygon as well.
In a chat with Polygon’s co-founder Sandeep Nailwal, he explains Crypto Briefing why his activity is accepting so abundant traction. He says:
“Because of the developer acquaintance and EVM compatibility, abounding third-party developers are architecture on the Plasma-POS blockchain. Our architecture ambition is simple, if you are an Ethereum [developer], you are already a Polygon [developer]. We are blessed to accomplish 99.9% compatibility, be it solidity, developer tooling, wallets, about aggregate works the same. You can move your absolute app, and assets in a amount of 10 mins.”
According to Nailwal, Polygon’s developer applique works out of the box so that Ethereum acute affairs can be seamlessly ported. That way, developers and users get the aforementioned functionality as Ethereum.
Aave is arguably the best arresting dApp to accommodate Polygon. Aave launched a adaptation of their lending bazaar on Polygon on Apr. 14, and aural a few days, the absolute clamminess exceeded $600 million.
Users of the Aave agreement on Polygon have to pay beneath than a cent for asset swap, which is a thousand times cheaper than on the Ethereum mainchain.
“What we are seeing is that already users appear to Polygon from Ethereum, they do not appetite to go back. They are admiring the abstraction of feeless DeFi,” tells Nailwal.
Behind The Polygon Rebrand
Polygon was founded in 2024 by three Indian developers—Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.
They launched the mainnet in May 2024, and it bound begin traction, decidedly from blockchain amateur such as Neon District and Decentral Games.
In December 2020, the aggregation abutting easily with Mihailo Bjelic, an Ethereum researcher, to adapt the activity in the administration of a new ascent infrastructure. This additionally led to the rebranding of Matic into Polygon.
In its rebranded form, Polygon offers a framework for architectonics and abutting scalable Ethereum-compatible blockchains. When it comes to the project’s new architecture, Polygon has been advised to be adjustable appear Ethereum scaling.
In accession to its absolute Plasma-PoS blockchain, Polygon will abutment added Ethereum scalability solutions, abnormally Optimistic Rollups, ZK-Rollups, and StarkWare’s Validium chains. Those ascent solutions, such as Rollups, are still in the activity and will be implemented later.
“We accept ascent solutions are activity to be commoditized. Hence, Polygon is aggravating to be an AWS-like open-source aggregator of ascent solutions that baby to the needs of all developers,” says Nailwal.
Polygon’s eyes of scalability will abound added through an accessible barrage of Polygon SDK, a software development kit for architecture dApps on top of the network.
When asked about the account abaft abounding ascent solutions, Nailwal said the accommodation was fabricated to baby to a growing trend of developers absent to body dApps for their specific needs. In Nailwal’s words, Polygon is aiming to be an “aggregator” of Ethereum ascent solutions.
“When Polygon (Matic) started a few years ago, there was a lot of action for Plasma. Within a year, the industry confused to added ascent solutions such as Rollups. We again accomplished that the industry anecdotal and technology accumulate evolving quickly. Now, we do not appetite to focus on aloof one technology and be adamant in our approach,” he tells.
Sandeep Nailwal & the Big Multi-Chain Bet
After architecture ascent infrastructure, Polygon’s roadmap includes an interoperability band-aid on Ethereum.
Polygon’s multi-chain ecosystem is commensurable to projects like Polkadot and Cosmos but with the advantages of Ethereum’s security. Polygon SDK will additionally accredit an interoperability agreement for exchanging tokens and arrangement calls with Ethereum and added blockchain networks.
“We are planning a multi-chain ecosystem and some analysts accept alleged it Ethereum’s internet of blockchains. Just like Polkadot or Cosmos, you will be able to body your own chains, and these chains will additionally accept interoperability amidst anniversary other. The alone aberration is that Polygon depends on Ethereum’s already complete aegis model, instead of architecture aegis from blemish like others do,” Sandeep Nailwal elaborates.
In his view, the Ethereum-centric action for interoperability gives Polygon a cogent advantage over aggressive projects. He argued that added Layer 1 blockchains would attempt to ability the akin of aegis and developer absorption as Ethereum.
With so abundant aboriginal momentum, Polygon appears well-positioned to break one of Ethereum’s acute obstacles.
Disclosure: The columnist does not authority the cryptocurrency mentioned in this commodity at the time of publication.
