9.5 Advantages & Disadvantages of Polygon
Polygon (Matic) - YappaFi’s Blockchain Of Choice & Why
Below is a list of Polygon’s relative strengths, and also some of the challenges it may face:
Polygon's strengths include:
An ability to process transactions quickly by using a consensus mechanism that completes the transaction confirmation process in a single block. Polygon can maintain fast transaction processing speeds with an average block processing time of around 2.1 seconds. (34)
Polygon's potential challenges are:
It is not an autonomous blockchain - Polygon is a Layer 2 solution that works on top of the Ethereum platform. If the Ethereum platform experiences serious disruptions, then Polygon would likely be affected.
Limited use cases for MATIC - the MATIC token is designed to govern and secure the Polygon platform and pay transaction fees. Unlike some digital currencies, MATIC is not generally used for everyday purchases, however MATIC is not competing for global adoption as a form of exchange, its objective is to dominate the Web3 space.
YappaFi targets the main constraint of the Web2 environment by implementing Web3 solutions. In Web2 users are merely a product to the internet, with organizations such as Meta consuming browser data like a blackhole, however with Web3 users are given ownership over their contribution to a better online experience, allowing them to be rewarded for doing so, leading on to the main way in which $YPA tokens are earned.
Third-party cookies will be officially deprecated in 2023 up to the second half of 2024,(36) with more users becoming aware of the potential risks of data collection, while more organizations are taking advantage of this method. Within the YappaVerse, the data is connected to the user by the user, meaning that they are now in control of their digital identity, opening new possibilities for controlling the way users interact online.
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