Hellow guys, Welcome to my website, and you are watching Polygon PoS Chain - A Commit Chain? DeFi Explained. and this vIdeo is uploaded by Finematics at 2021-04-28T12:21:49-07:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | Polygon PoS Chain - A Commit Chain? DeFi Explained |
| Video Uploader | Video From Finematics |
| Upload Date | This Video Uploaded At 28-04-2021 19:21:49 |
| Video Discription | So what is a commit chain? How is it different from a sidechain? And what makes Polygon Commit Chain a commit chain rather than a sidechain? We’ll answer all of these questions in this video. Let’s start with understanding what exactly a sidechain is. A sidechain, in essence, is a separate blockchain that can be used as one of the ways of scaling a Layer 1 blockchain such as Ethereum or Bitcoin. As the name suggests, a sidechain runs in parallel or “on the side” of the main chain. Sidechains have their own consensus mechanisms usually in the form of Proof-Of-Stake, Delegated-Proof-Of-Stake or Proof-Of-Authority. Sidechains allow users to send their tokens from the main chain and receive them on the sidechain. Once the funds are transferred to the sidechain they can be used within the sidechain ecosystem. Similarly, users can withdraw their tokens from a sidechain back to the main chain. The whole process is called a 2-way peg or a 2-way bridge. Thing to note is that once the user tokens are on the sidechain then they are completely reliant on the consensus mechanism of the sidechain Initially, all scaling solutions such as sidechains, Plasma and rollups were classified as Layer 2 solutions as they are built on top of Layer 1. After a while, the Ethereum community started differentiating between scaling solutions fully secured by the Ethereum main chain - Layer 2 and other scaling options with their own consensus mechanisms - sidechains. At the moment, pretty much all scaling solutions are classified as either one or the other. When it comes to Polygon Commit Chain, it is worth differentiating it from a sidechain as it has a lot of extra features that rely on the security of the main Ethereum layer. 📘 DeFi Guide ► https://finematics.com/guide-to-decentralized-finance/ 📖 Post ► https://finematics.com/polygon-commit-chain-explained/ 🐦 Follow Finematics on Twitter ► https://twitter.com/finematics 💛 Support Finematics on Patreon and join our Discord community ► https://www.patreon.com/finematics 🔒 Ledger ► https://shop.ledger.com/pages/ledger-nano-x?r=b0b220a75e03 (affiliate) 📱 Argent Wallet ► https://argent.link/finematics (affiliate) 🌐 Get your .crypto Unstoppable Domain ► https://unstoppabledomains.com/r/8160a196fa7e4ac |
| Category | Education |
| Tags | ethereum | matic | polygon | commit chain | sidechain | sidechains | polygon pos | ethereum scaling | ethereum layer 2 | layer 2 | matic tokens |
