Bitcoin Forum

Years back, ETH transaction fee was a penny, now look at it and it's volatility. Shouldn't we focus on polygon chain now, make judicious use of it as for some developers before it turns out to be what we see in ETH transaction fee today. Though the traffic there is low but this how erc-20 chain also started. Nobody knows it's gonna be what it is today

Cross-chain projects are now at the level of great popularity among cryptousers. Thanks to the best offerings of their blockchain (not just MATIC). but there are also many projects that provide much better conditions for users and developers within their ecosystem, for example Near Protocol, Solana or ADA. You just need to choose your direction in which ecosystem you feel more comfortable. Definitely, such projects are the future

When ethereum has started and it has a cheap transaction fees but it's not so cheap as polygon. The price of ethereum was pumping the fees but you can take a look at BNB as the competitor for ethereum chain.

The fees was quite stable although the price was steadily going up to the moon. Each transaction now consumes only a few cents and I were expecting the fees will be going around more than 10 cents once the price of BNB will be more than 1k rate or three digits. The same thing will happen with polygone but in my opinion the developers of these platforms aware about the scalability problem that faced by ethereum.

They were adding big blocksize to anticipate it.

One can say in a way, it is not the fault of Ethereum blockchain for the gas fees to skyrocket like that, Ethereum is housing a lot of projects and DApp, so in a way it is expected, and which is why the team are trying their best to solve that issue hence making their blockchain more scalable.
BSC network is growing and if it maintains the growth, it will get to a point the gas fees will start increasing, and same with Polygon, now when such happens, will it mean the two blockchains are not worth it again, I don't think so, what will be needed at that point is more implementation and improvements.
Lastly, Ethereum price is increasing hence it is most likely to reflect on the gas fees as well, all these, shows the signs of a growing blockchain which is good, because if it is not growing it will be neglected. Moreover, when ETH takes care of the high gas fees, I wonder what most blockchains will do, because it will outgrow them even more.

Although I like Matic very much, I don't like what you say by pointing out ETH. Personally, I have made great profits from ETH and MATIC, and personally, the ETH position will be raised to a new level and we need to clearly distinguish BTC ETH and altcoins. As for MATIC currently, they are showing very useful capabilities and solutions, and people from other platforms are also flowing in here.

The consensus mechanism it's already different in the first place mate, I'm not an expert though but why Ethereum gas fee it's keep Increasing because the total transaction was rised more than 10x comparing to when it's launch and it was using PoW where the fee will be adjusted by the miners, difficulty and many other things so far i know where Matic (Polygon) was using PoS mechanism so the fee it's more likely going to flat same with BSC or other PoS Altcoin. Fromy my perspective Polygon so far is the best Layer-2 Alternative and the fee will more likely will not exceed $1 since it's using PoS if there anything wrong please correct me.

The polygon network has every chance to become one of the most widely developed networks in the crypto world, now the transaction price in this network is a penny, if the MATIC price also increases, we will face the same problems as ETH, but it will not be soon, so we use it and do not think about it ::)

Even when the price of matic will increase and the fees will still remain the same. I meant when you're valuing the gas fees in matic and it will be stable like this but when you're valuing it based on the how much USD that you must pay to send a transaction to the another address and then it may be increase due to the fiat price of matic was also increasing. We have been learning from ETH and BNB.
Matic has the same mechanism like ethereum and BNB but at least matic has better block size compared with those two chains in term of TPS.
Im not feeling worry about that dude.

According to Coinmarketcap data, MATIC coin fell to a monthly low of $0.6237 and then rebounded more than 70% to $1.07 currently
If Bitcoin can maintain its upward momentum, there is a possibility that the price of Polygon (MATIC) coin will continue to rise. This happens because the two coins have a close correlation.
Polygon price will also react to the latest price action in Bitcoin price. After soaring to over $41,000 over the weekend, the price has dropped slightly to $40,000 today.

ETH is also being compared  to BNB because it has a very low gas fee. But take a look at BNB's gas fee now. A single 0.001 BNB is around $0.40 now. Once BNB hits $3000 transaction fee for nft games will become $3 per run.

I believe that, in the future blockchain world, transaction fees and speed are a very important requirement. Taproot in November may help reduce bitcoin's transaction gas fees somewhat. Meanwhile, ETH's Transaction Fees have been a curse across the topic as its price is higher than 3k$ along with transaction volume peaking, even a hardfork 2.0 will not reduce its gas cost. I still play some defi/NFT on polygons - it serves as a fulcrum for ETH when it comes to gas fees. I think polygon should be supported even though its liquidity is not perfect.

Polygon chain has created a great buzz recently, when the problem of processing speed and fees is too high on the Ethereum platform, Polygon chain is solving it well.
Personally, I think it has created a position in the market and is one of the useful and convenient network solutions for users at the moment.

Just used the chain yesterday and was impressed. I've been using BSC a lot and one single interaction on BSC sometimes reaches over $1 at the moment. Transfers are above 50 cents most of the time. Withdrew matic from coinex (0.1 matic fee) to metamask, and everything after that was about feeless. Transactions and every type of interactions happened below 1 cent. The best thing is it gives you opportunity to try many things and settle on what works for you. Experimenting have really gone costly in BSC and is impossible in ETH native chain.

most of these fee issues happens because you calculate it in usd. most of the time, sats wise, they don't really differ that much. other chain will get more expensive (in usd) if the main coin price increase, so don't expect this to last forever too. it might be better if fee calculation can use usd as its base instead of sats.

The transaction fees will remain the same but they will be valued more in the fiat money. Polygon was also working with some projects to create another new solution again to prevent this problem to happen in the future.
Im feeling disappointed to see that if what was already announced when the testnet was getting launched didn't happen with the mainnet.
Polygon has more TPS compared with BSC but the gap was not so big.
I thought that if the team already planned a new layer to be integrated into the polygon to handle the mass adoption when it comes.
As long as it has big blocksize and it can keep the price of tx fees in polygon will stay at the cheap price.

As you said before the gas price will continue to rise because price itself for example ETH or BNB was rising, Yes you're right about fee will high because it's pegged to the price while current BNB Fee for example was around $0.4 and this will continue to grow over time but the main problem here BNB, Polygon or any other PoS Coin will always have flat fee while Ethereum Fee was really fluctuate, From 1 Gwei jumped to 600 Gwei so the gas fee was doubled or even tripled even more not only from price movement but also the network itself.

I hadn’t thought about such a scenario before, so when I saw your question, I checked volumes on Polygon compared to Ethereum. And tell you what, at the end of June, Polygon’s daily trading volume was 6 times higher than Ethereum’s, but still low fees. Moreover, Polygon works on Proof of Stake as opposed to Ethereum, so it allows Polygon to be very cheap.

Yes, really love it for what it does for the users, and we are all happy with it. I think what will happen to Polygon in the future as projects begin to gradually move towards more integration. And just like I am seeing, the ecosystem that Polygon is having is also extremely strong and not inferior to other powerful platforms in the market.

Polygon fees are going up and transaction times are increasing. I can get the same speed transaction now on BSC. I think we are going to need L2's on Ethereum sidechains and that's why I'm bullish on Aurora on NEAR protocol. It's rainbow bridge can connect to all EVMs.

the answer is the same as what has been going on, the more communities and the larger the trading volume, the higher the price next time in the long term, Bsc, for example, over time the gas price will also be like Ethereum, so will polygon matic, gradually the price will definitely continue to rise...