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Selfient on Polygon:

Why Polygon vs another blockchain? - Selfient has decided to operate on the Polygon Network for a few reasons:

1. EVM Compatibility:

  • Selfient has chosen to remain within the Ethereum ecosystem rather than opting for an alternative Layer 1 (L1) network like Solana. This decision is rooted in our confidence in the reliability, performance, and security provided by Polygon, particularly as an Ethereum Layer 2 (L2) solution.

2. Network Speed:

  • Polygon PoS offers impressive transaction speeds, reaching up to 65,000 Transactions Per Second (TPS). This surpasses the transaction capabilities of Ethereum as a Layer 1 solution (approximately 15 TPS), Arbitrum (around 40,000 TPS), and Optimism (roughly 2,000 TPS) as Layer 2 solutions. The higher speed facilitates faster contract execution on the Polygon PoS network compared to its counterparts.

3. User Costs and Gas Fees on Polygon vs. Ethereum:

  • User costs associated with interacting with a contract on Polygon are remarkably affordable compared to the Ethereum Main Network. Expenses for contract interactions on Polygon can range from a few cents to a few dollars. Lowering these costs has been a pivotal effort for Selfient, enabling users to focus directly on maximizing profits and minimizing gas expenses.

4. Layer 2 Market Activity:

  • Monthly Transactions: (Graphs depicting network data highlight Polygon's significant advantage over Optimism and Arbitrum in terms of Monthly Transactions. This results in approximately 2 to 6 times more transactions than Arbitrum and roughly 4 to 13 times more transactions than Optimism in the year 2023.)
  • Monthly Active Wallets: (Graphs illustrating network data emphasize Polygon's substantial advantage over Optimism and Arbitrum in terms of Monthly Active Wallets. This translates to approximately 2 to 8 times more active wallets than Arbitrum and roughly 3 to 9 times more than Optimism in the year 2023.)

5. Ecosystem Strength:

  • Polygon boasts a robust ecosystem with approximately 53,000 dApps developed on their network as of June 2022. We are proud to be in esteemed company alongside prominent names such as Uniswap, OpenSea, Rainbow Wallet, Galaxe, Lens Protocol, and numerous other dApps seamlessly integrated with Polygon.