Polygon Crypto Vs Solana – A Detailed Comparison

Polygon Crypto vs Solana comparison has stirred a lot of debate amongst traders who wish to know the difference between these two blockchain projects so as to ascertain the best amongst the two that offer better products and seamless user experience.

Apart from the Polygon crypto vs Solana comparison, there has also been a steady critical comparison between Polygon vs EthereumSolana vs Ethereum price prediction, Ethereum 2.0Solana vs Ethereum long term, Ethereum vs Solana vs Cardano, and so on.

Solana vs Polygon gas fees and crypto staking protocols between the two has always been at the forefront of the comparison between Polygon(MATIC) crypto vs Solana(SOL).

However,  we’re not only going to limit our comparison to the gas fees comparison as we’ll also spread our tentacles in all aspects of the two projects so as to achieve a well-detailed comparison between Polygon crypto vs Solana.

What is Polygon(MATIC)

Polygon is a blockchain developer-centric project that was solely designed to alleviate the majority of issues faced by the Polygon (MATIC) blockchain community.

The Polygon protocol was launched with the aim of performing similar operations as Ethereum’s “Internet of blockchains.”

The Polygon system provides adequate and well-secured infrastructure for creating Ethereum-based blockchains which help to connect these networks without hassle.

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The Polygon (MATIC) protocol also integrates Custom wasm execution environments and a wide range of tools that developers can leverage to improve their productivity and final results.

Ultimately, the Polygon protocol has gained massive recognition and acceptance in the crypto and blockchain industry since its inception due to its scalability, zero-gas transactions model, and other great features that it has.

How Does Polygon Work?

Polygon(MATIC) network significantly eradicates the technical barriers often seen with blockchain development on the Ethereum network.

This protocol introduces One-click deployment which simplifies the whole process.

Furthermore, the Polygon(MATIC) network also provides access to an increasing number of modules which significantly enhances the process development rapidly.

What Is Solana(SOL)

Firstly, Solana was founded by Anatoly Yakovenko founded Solana in 2017 during the remarkable crypto bull  market

Solana is a blockchain third-generation project that can support DeFi features.

However, the Solana network is very secure and has an open infrastructure which enables the protocol scalability with the sole aim of solving the day-to-day issues that are encountered with the Ethereum network.

How Does Solana Work?

Solana functions by simply making use of a special kind of structure to provide secure and scalable decentralized services to the cryptocurrency and blockchain ecosystem.

This Solana protocol makes use of a special kind of system called a Turbine which operates as a broadcasting system.

Furthermore, Solana also integrates parallel smart contracts on its proprietary Sealevel protocol which helps the network to easily execute thousands of smart contracts simultaneously which helps to significantly expand its scalability.

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Polygon Crypto Vs Solana Comparison

Here’s a detailed comparison between Polygon crypto vs Solana network.

1. User Experience

The Polygon crypto network unarguably has the best user experience as against the Solana network.

Polygon(MATIC) users can easily move between Ethereum Virtual Machines (EVM) compatible networks for relatively low transaction fees.

The relatively low transaction fees make it easy and cheap to capitalize on incentive programs that happen on new networks like Optimism, NEAR, Aurora, NEAR, and so on.

On the other hand, Solana does not have the best user experience compared to Polygon(MATIC) because they are not an Ethereum Virtual Machine (EVM) compatible network.

This however makes it extremely difficult to bridge tokens to Solana from other popular networks like Fantom, Optimism, Avalanche, etc.

2. DeFi Applications

Polygon provides a better DeFi application experience than Solana for investors who wish to have access to yields on a wide variety of tokens and stablecoins.

As of present, Solana currently has more ‘Total Value Locked’ than Polygon with $5.5B compared to $3.8B locked on DeFi applications.

However, Polygon(MATIC) has a wide range of applications like Curve, AAVE, QuickSwap and Stargate which makes it relatively easy to earn up to 10% APY on stablecoins.

3. GameFi and NFTs

Solana significantly provides a better user experience compared to Polygon (MATIC) when it comes to Non Fungible Tokens (NFTs).

Recently, Solana partnered and integrated with OpenSea to enable users to buy, sell and trade SOL native NFTs through their platform.

On the other hand, Polygon is also integrated with OpenSea, but their NFTs trade hardly any volume.

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On the aspect of games and GameFi, both Solana and Polygon(MATIC) networks boast a wide variety of games.

Polygon(MATIC) boasts of popular crypto games like Crypto Unicorns and Crypto Raiders.

On the other hand, Solana has AAA games like Neopets and Aurory amongst other games.

4. Tokenomics

Solana and Polygon significantly have very similar tokenomics to most Proof-of-Stake (PoS) blockchain protocols.

In order to secure the network, both Solana and Polygon need to pay out inflationary rewards to incentivize stakers to validate the network.

Solana currently has an 8% inflation rate and

As of the present time, Polygon(MATIC) has a 10% inflation rate while Solana has an 8% inflation rate which suggests that Polygon (MATIC) mints more tokens compared to Solana

However, both Polygon and Solana blockchain networks pay out an average staking rate of 8% – which implies that Solana has better tokenomics than Polygon.

5. Solutions

Amongst the major aim why Polygon(MATIC) network was designed is to eradicate scalability concerns due to slow transactions.

The Polygon network engages the challenge through the introduction of a more efficient adequate consensus algorithm.

The scalable consensus system helps users to avoid the extremely high gas fees found on Ethereum currently which is why Polygon gas fees are extremely cheap.

On the other hand, one of the major reasons why Solana network was developed is to provide exceptional scalability to the market.

The Solana network was able to solve this problem by enabling transaction throughput to scale proportionally with network capacity.

How to Buy Polygon (MATIC) and Solana (SOL)

We’ve carefully discussed in detail the comparison of Polygon Crypto vs Solana, let’s now discuss how and where you can buy Polygon(MATIC) and Solana coins.

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Here’re some of the exchanges where you can buy Polygon(MATIC) and Solana(SOL) with ease.

a. Binance

You can buy Polygon(MATIC) and Solana on the world’s biggest exchange, Binance with ease.

b. Uphold 

Uphold is a leading exchange basically for the United States & UK residents which offers a wide variety of cryptocurrencies.

Once you create and verify your account with Uphold exchange, you can easily buy and sell cryptos on the exchange without hassle.

However, German & Netherland residents are prohibited from buying and selling cryptos on this exchange.

c. KuCoin

This exchange currently offers cryptocurrency trading of over 300 other popular tokens.

It is often the first to offer buying opportunities for new tokens.

This exchange currently accepts International & United States residents.

d. Crypto.com

You can easily buy Polygon(MATIC) and Solana cryptocurrencies with your crypto.com card on the Crypto.com website.

However, if in the process of buying any of the above cryptos and your crypto.com card is declined, you should exercise a little patience as there might be a system glitch that made the crypto.com app not work on your phone at the moment and also make sure that your details are correctly input.

FAQ About Polygon Crypto vs Solana

Here are the frequently asked questions about Polygon crypto vs Solana networks.

Is Polygon a good investment?

There’s no difference between Polygon(MATIC) and other cryptocurrencies.

Therefore, considering the volatile nature of the crypto market, all cryptocurrencies and tokens are subject to a rise and fall in value at any time.

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It is therefore advised you make a detailed research about any project or crypto you want to invest in and also invest an amount of money you can afford to lose because of volatility.

Therefore, Polygon(MATIC) looks promising from the long-term perspective, hence do your own research before investing.

Why Polygon is better than Ethereum?

It wouldn’t be fair to conclude that Polygon(MATIC) is better than Ethereum considering a lot of factors.

However, Polygon(MATIC) is the best blockchain network to launch an NFT project with high-frequency and low-value transactions.

On the other hand, ETH is the best blockchain NFT project with low frequency and high-value transactions.

Therefore, it is advisable to launch on Polygon than on Ethereum if you are launching between 7,000 to 10,000 NFT arts.

Summary

We have comparatively analyzed Polygon Crypto vs Solana taking into account the Solana vs Polygon gas fees, the blockchain solutions each of them solves, how the two networks works, and other major distinctive features between Polygon crypto vs Solana networks.

Subsequently, we would bring you a detailed comparison between Solana vs Ethereum, Solana vs Ethereum price prediction, Ethereum 2.0 vs Solana, Ethereum vs Solana vs Cardano, Ethereum vs Solana long term, and many other comparisons of regular concern among traders.

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