Cheaper Transactions - Deepstash
Cheaper Transactions

Cheaper Transactions

The company indicated that transactions should now be cheaper than utilizing the traditional Polygon-Ethereum bridge.

  • Binance has fully integrated the Polygon (MATIC) mainnet onto its platform.
  • Binance traders can deposit and withdraw MATIC through their Binance accounts while also interacting with decentralized applications, or DApps, like Sushiswap, Balancer, Aave, and more. 
  • This integration is meant to ensure that traders can utilize said DApps cheaply and efficiently without using the existing Polygon bridge.

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MORE IDEAS FROM Binance completes Polygon wallet integration

The network gives developers a way to build unique sidechains for all of their DApps, which may provide the necessary growth capabilities for mass adoption .

Devs are already taking advantage of those capabilities, too. Recently, Polygon established the gaming-focused Polygon Studios to build decentralized games and harness the power of non-fungible-tokens.

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Binance marks Polygon’s latest integration, as the network has already worked with Huobi and Coinbase Wallet, among others, to the same effect. 

The scaling solution is supported by various Ethereum-centric services as well, such as Metamask and Infura.

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RELATED IDEA

What is Polkadot (DOT)?

Polkadot is a network protocol that allows arbitrary data —not just tokens— to be transferred across blockchains.

This interoperability seeks to establish a fully decentralized and private web, controlled by its users, and simplify the creation of new applications, institutions and services.

Polkadot can transfer this data across public, open, permissionless blockchains as well as private, permissioned blockchains.

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A world computer & a settlement layer

Ethereum is a “world computer”: It lets people build apps & products with money baked into the code. If you believe that web3 is going to continue to grow, then you likely believe that over time,

Ethereum will become the “settlement layer” of the internet: All sorts of transactions (whether on-chain or even Visa) will turn to Ethereum to exchange funds and keep secure, immutable records.

Owning ETH is like owning shares on the internet. Demand for ETH will go up with increased web3 adoption, while upcoming changes will decrease the supply of ETH and let more value accrue to holders.

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What is a liquidity pool?

A liquidity pool is a collection of funds locked in a smart contract. Liquidity pools are used to facilitate decentralized trading, lending and many more functions.

  • Liquidity Pools are the game-changing innovation in Decentralized Finance (DeFi) that facilitates trading on Decentralized Exchanges (DEX) and provide liquidity through a collection of funds locked in a smart contract.
  • Users called liquidity providers (LP) add an equal value of two tokens in a pool to create a market. In exchange for providing their funds, they earn trading fees from the trades that happen in their pool.

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