ETH - What Could Happen to Polygon After the Ethereum Merge This September?
We are just a couple of weeks away from the highly anticipated upgrade that will move Ethereum (CRYPTO: ETH) from a proof-of-work consensus mechanism to proof of stake. Known as The Merge, this change is being brought about to lay the foundation for Ethereum to increase lagging transaction speeds, lower gas fees, and use less energy.
As one of the most popular blockchains in the world, Ethereum's network has become susceptible to congestion and high fees during peak times. To combat this, Layer 2 solutions like Polygon (CRYPTO: MATIC) have risen in popularity as users and developers look for cost-friendly and quicker blockchain alternatives.
Instead of trying to outdo Ethereum, Polygon offloads some of that traffic and serves as a de facto sidekick. Transactions on Polygon are processed separately and then added to the Ethereum blockchain at a later date. In doing so, Polygon users get access to increased speeds and minimized fees without sacrificing security since all transactions are eventually added to Ethereum's decentralized blockchain.
For further details see:
What Could Happen to Polygon After the Ethereum Merge This September?