123swap presents an ecosystem of services that provide customers with a one-stop-shop experience to exchange, hold, send, receive, earn, invest, borrow, and loan tokens on numerous networks.
The 123swap improves the way cryptocurrencies are redeemed and simplifies the end-user process by addressing complex interfaces, hidden fees, and time-consuming registration procedures.
The 123swap has worked with many upgrade projects and will soon work with various others. It is one of the projects with which 123swap is contributing now.
What is a polygon?
Polygon (formerly Matic Network) is the first structured, user-friendly Ethereum scaling and infrastructure development platform. The Polygon SDK is a modular and adaptable framework that facilitates the development of various applications and is a critical component.
The platform aims to build a multi-chain ecosystem of blockchains compatible with the “Ethereum Blockchain Internet,” or Ethereum. We are trying to achieve this by providing a simple framework that allows developers to build their Ethereum-enabled blockchain with just one click. Polygon envisions a system in which various blockchains exchange value and information freely and quickly to resolve the technological and ideological conflicts in many blockchains today.
The project was initially named the Matic network but was renamed Polygon because of its expanded scope. Matic is a straightforward Layer-2 extension solution for Ethereum, while Polygon is the foundation of an autonomous large-scale and collaborative blockchain network.
Building significantly on the goals and scope of the original Matic Network project, Polygon provides developers with a range of tools for creating ultra-scalable and high-performance blockchain and decentralized applications (DApps).
It is the only scalable solution in the market that supports Ethereum Virtual Machines (EVMs). It allows linked chains to maintain self-sovereign security while still maintaining interoperability with each other and with the Ethereum backbone.
Unlike some different platforms, strings in the Polygon ecosystem do not require to use their security as a service layer. However, they can still communicate with each other through arbitrary messaging capabilities. It means that developers can create genuinely interoperable decentralized applications that can leverage different chains’ different abilities on a large scale.
More secure options.
Staking is an essential element of the polygon ecosystem, as it is a Layer 2 solution that uses a network of proof of stake verifiers to secure assets. The validator on the web invests the MATIC token as collateral and becomes part of the network’s PoS consensus process in exchange for the MATIC token.
Network members who don’t want to become validators can delegate their MATIC tokens to other validators, but they can still participate in the stakes process and earn stakes rewards.
In addition to proof-of-stake checkpoints, Poly uses a block producer layer for more advanced dispersibility. This block producer brings finality to the main chain using checkpoints and fraud prevention technology.