What is the difference between Ethereum and Polygon?

This is because Polygon and Ethereum are different blockchain networks and require a blockchain bridge to transfer assets. Transferring assets from Ethereum to Polygon can take around 22-30 minutes and will incur one Ethereum gas fee that will cost several dollars in ETH.

Is polygon the next Ethereum killer?

While many blockchains attempt to become the next “Ethereum killer”, Polygon aims to become an “Ethereum saver”. Polygon is an independent protocol that has its own decentralised blockchain network. However, it connects to Ethereum to provide the legacy blockchain a Layer-2 solution without modifying the network in any shape or form.

How long does it take to transfer from Ethereum to Polygon?

Transferring assets from Ethereum to Polygon can take around 22-30 minutes and will incur one Ethereum gas fee that will cost several dollars in ETH. Transferring from Polygon back to Ethereum incurs three transactions, one paid in MATIC, two paid in ETH and can take up to three hours to complete.

What are the benefits of Polygon as an Ethereum sidechain?

One of Polygon's biggest benefits as an Ethereum sidechain is its multi-chain scaling consensus model. The system allows for the integration of DApps that are interoperable across different chains. This is achieved through decentralized bridges.