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TL;DR
In response to Polygon cofounder Sandeep Nailwal, if we wish Web3 to succeed, we want two issues:
Infinite, limitless, unbounded scalability. (Translation: blockchain tech that gained’t break if too many individuals use it).
Unified liquidity for worth to be transferred.
What Sandeep and the Polygon group are engaged on is an answer that primarily cuts Ethereum out of this conversion course of, so the congestion can ease.
The top consequence? The flexibility to swap between any Ethereum based mostly token in a matter of seconds, at scale..
Full Story
In response to Polygon cofounder Sandeep Nailwal, if we wish Web3 to succeed, we want two issues:
Infinite, limitless, unbounded scalability. (Translation: blockchain tech that gained’t break if too many individuals use it).
Unified liquidity for worth to be transferred.
What does that final bit imply?
Consider these Ethereum-based chains like totally different world currencies.
In the true world, should you wished to swap Zimbabwean {Dollars} (ZWL) for Swedish Krona (SEK) you may open up your foreign money change app, press a couple of buttons – and growth! It’s accomplished.
However what you miss is what occurs within the background.
You’d be arduous pressed to discover a Swedish financial institution that accepts Zimbabwean {Dollars} – so what the foreign money change does is it swaps your ZWL for US {dollars} (which is accepted all over the place) and makes use of that USD to purchase Swedish Krona.
One thing comparable occurs whenever you change Ethereum-based tokens.
For instance:
Once you change one small/much less well-liked Ethereum-based token for one more, what is going to occur is ‘Small Token 1’ is traded for Ethereum (ETH), that ETH is then used to purchase ‘Small Token 2,’ which is then dropped in your pockets.
Okay, okay, it’s not an ideal analogy – however the level is:
This places a whole lot of stress on Ethereum.
What Sandeep and the Polygon group are engaged on is an answer that primarily cuts Ethereum out of this conversion course of, so the congestion can ease.
The top consequence?
The flexibility to swap between any Ethereum based mostly token in a matter of seconds, at scale.
Let’s hope the Polygon group can pull it off!
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