Where is preferable to operate, and why?
Personally i feel more safe on Ethereum defi, and to be honest is the only defi I’ve used till now. But in the last weeks I’ve approached to Polygon, cuz MATIC is still in the top10 market cap, it have a big TVL, low fees, a different choice of DEX and so on…
What I have fear to move in the Polygon Network, are the more risks, it being a newer network…
Opinions? Some good guide on Polygon? Suggestions, experience….c’mon!
15 thoughts on “Ethereum or Polygon”
I like both, but I’m focusing on Polygon because of the lower fees. I’m using an oracle infrastructure (Diadata) to work with NFTfi there. I know is a newer network, but it has got over 50k dApps. I also can’t recall a project with so many partnerships lately (Disney, Stripe, Meta, etc…). Network activity is also very good. These are just a few reasons why I’m focusing on Polygon.
I love Polygon, as I have projects on there, and love the efficiency, compatibility, and where they’re taking things in terms of mainstream adoption. ETH is king, but Polygon is growing from princess to queen quickly, IMO
Polygon is limited to 100 validators, by design…. Not very decentralized. People talk about it as if it’s an L2, but it does not share Ethereum’s security (Proof of Stake)
I’d say ETH, like you said more secure and who knows if polygon is will stay a top blockchain for long. It’s essentially just an L2, I’ve found fantom to be a way better chain in terms of functionality.
Not to say I’d recommend using fantom either but it’s just a crowded space right now and hard to predict.
If you’re storing money Ethereum no question. If you’re transacting a lot polygon
The only edge of Polygon over ETH is the fees, BUT Polygon is not as safe, reorgs are really bad and their NFT ecosystem is FULL of scams, dunno about their DeFi but I’d rather use ETH over Polygon everyday of the week.
The votes of 5 people are required to take down polygon right now. Not a place to store a lot of money, but a great place to make quick trades and get your money back to Ethereum if you have a cheap bridging method.
In my own opinion, Ethereum blockchain outperform every other blockchain. Polygon is a solid one which no one can dispute but it doesn’t come close to Ethereum. I’m sure this is one of the few reasons CryptMI decided to launch on Ethereum first. Others might follow.
ETH fees are the killer.
L2 scaling solutions you take on L2 risk.
For Defi to become what it can become it has to run on L0 and it has to be private by default.
There’s only a few platforms doing that:
Bitshares, aside from gateway on-off rams… so I would consider it L1.
What could be the next level Defi?
A private synthetics Dex with atomic swap on/off ramps, on L1.
What is technically capable of doing that?
Dero smart contract coupled with the current atomic swap pipes.
Would could work, but not private?
Bitshares dex, replacing gateways with atomic swap pipes.
Forward thinking Devs, this is the next big thing in Defi. Build it.
You answered your own question. Since you haven’t used Polygon DeFi, you are in no position to make that comparison.
Why not both? I kind of prefer L2s since I’m a heavy user and the fees make it less profitable in Ethereum mainnet.
I’ve been spending a lot of time in Arbitrum recently and loving it. Optimism too is awesome. I’ll be the first to jump on Cartesi if testnet becomes public, or direct mainnet, anyone that comes first.
Engaging in L2s also has the extra advantage of the high likelihood you’ll be eligible for airdrops in the future.
Most blue chip Ethereum dapps are also on Polygon. And Fantom.
And Avalanche. Optimism, Arbitrum, Canto, Harmony One, Moonriver, BSC…
For at least the near future, I think it makes sense to be chain agnostic and worry more about which dapps you trust and what kind of opportunities there might be with them.
use and test it. Polygon is cheap compared to ETH.
Just try it for yourself.
What do you want to do on the network? I’d go Rootstock for DeFi personally unless you want to day trade or do NFT stuff.