Polkamarkets had partnership with Polygon (former Matic Network) to provide scaling solutions and to facilitate low fee and fast trading on Polkamarkets. As an Ethereum interoperability protocol, Polygon will facilitate Polkamarkets’ vision of being a cross-chain information exchange platform built on blockchains.
Polkamarkets & Polygon — Ethereum Interoperability & Scale
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Polkamarkets Partners with Polygon for Scaling Solutions
Polkamarkets
10 hours ago·4 min read
Polkamarkets Partners with Polygon for Scaling Solutions
We are thrilled to announce Polkamarkets’ partnership with Polygon (former Matic Network) to provide scaling solutions and to facilitate low fee and fast trading on Polkamarkets. As an Ethereum interoperability protocol, Polygon will facilitate Polkamarkets’ vision of being a cross-chain information exchange platform built on blockchains.
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Polkamarkets & Polygon — Ethereum Interoperability & Scale
At Polkamarkets, it is the most widely compatible and accessible prediction market will win. That’s why it is reaching out not only to the Polkadot Ecosystem, but to the established and thriving Ethereum Ecosystem as well. In fact, their first MVP will launch on the Ethereum mainnet prior to porting to Polkadot. In light of this, they have been in extensive talks with Polygon (formerly MATIC Network) about how to use their technology to not only scale Polkamarkets, but to also augment our degree of interoperability with other blockchain networks.
The challenges that all blockchain-based prediction markets (and DEXs like Uniswap) faces are high-fees and low throughput. These problems are nothing new and have existed since the beginning of blockchain-based systems. In the early days, the networks could get by since they were under little demand, however nowadays with the explosion of DeFi and other on-chain dapp use, getting your transactions (trades, NFT minting, etc) has become more expensive and more difficult.
Polkamarkets’ partnership with Polygon enables us to scale up our Ethereum implementation of our prediction market technology to mass users while not subjecting them to high fees or long confirmation times.