Polygon (MATIC) vs Ethereum

[bbc.reporter]

The new kid in town (Polygon) has been on the rise lately. Many "De-Fi" lending platforms that were on the Ethereum blockchain have switched to Polygon (MATIC). The reasons for such a move are quite obvious. Ethereum's high fees and slow processing times makes it unsuitable for "De-Fi". It's why some people are moving into alternative smart contract platforms like the one mentioned earlier. If the trend keeps up, Ethereum might lose market dominance as its rivals gain traction in the mainstream world. First it was Polkadot, then it was Binance Chain, and now it's Polygon (MATIC). Which of these platforms will beat Ethereum is yet to be seen.

What do you think? Is Polygon (MATIC) better than Ethereum? If not, why? Do you think Polygon has a chance of overcoming Ethereum in the future? Isn't the market saturated with many smart contract platforms already? Your input will be greatly appreciated. Thank you.

Polygon scales Ethereum and it's complementary. I think NEAR will be the winning chain that scales Ethereum though. It can run Ethereum on a single shard in a smart contract without breaking a sweat.

NEAR is not a scaling solution similar to Polygon. It’s another blockchain secured by their own type proof of stake called Nightshade. I am not quite certain what the difference is, however, NEAR is not receiving the hype like Binance smartchain, Cardano and Solana.

In any case, wait for the release of Arbitrum. It is another scaling solution for Ethereum that did not issue their own token and it uses ETH to pay for fees. This is the right way to develop a real scaling solution, I reckon.

https://arbitrum.io/

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[Abiky]

MATIC is a kind of technology and it is based on Ethereum so it depends on Ethereum. The need to use MATIC is also the need to use Ethereum, so it will always be a follow-up, a shadow of Ethereum.
Comparing the value of MATIC to Ethereum is a false comparison.

https://decrypt.co/resources/what-is-polygon-matic-and-why-it-matters-for-ethereum

Yes. It's a good thing MATIC is rising in mainstream adoption, especially when the main Ethereum blockchain is highly congested. Since MATIC depends on Ethereum, its success will be Ethereum's success. Many dApps are beginning to use Polygon (MATIC) to solve the scalability bottlenecks on Ethereum. People will be able to enjoy low fees and blazing-fast transaction processing times using their same ETH balances on MATIC. It's a win-win situation for both projects.

I'd say that the real Ethereum competitor is not MATIC, but Binance Chain itself. BNB quickly became the third-largest cryptocurrency by market cap because of its high transaction throughput and scalability. The fact that it's backed by the biggest crypto exchange in the world (Binance) gives BNB a certain advantage over Ethereum. What I don't like about BNB is the high degree of centralization. It's why both MATIC and Ethereum would be a better choice for those looking into decentralization/censorship-resistance above all else. We'll see how everything unfolds in the future as crypto/Blockchain tech continues to grow in popularity worldwide. Just my opinion

[MishaSER]

What happens to this project when Ethereum normalizes their fees and becomes really cheap fees? And you should understand that MATIC is a protocol and not a blockchain.

[john1010]

There will be an important role to play for both, especially as Matic has broadened their focus in their rebranding as polygon. but Matic will take the more centralized things built on top of Ethereum, which like it or, is always going to be a significant part of the blockchain.

[ElectricAR15]

if matic main thing is layer 2, what role with matic play when Eth 2.0 runs on level 2?

[laohe628]

I think the ethereum platform is still the best because I see ethereum has a very high demand so it seems impossible if ethereum is defeated by polygons, so definitely polygon will not be able to do anything with ethereum which is the king of altcoins.

I think so too, precisely because ETH is the king of altcoins，so if there is a new full of potential coin appears, people like to compare it to ETH, but no one can overtake ETH at least until now.
It's the same reason people tend to compare other currencies to BTC.

[FinneysTrueVision]

Polygon is a layer 2 network of Ethereum. It is technically not a competitor but since they created their own token it would be interesting if it could someday overtake ethereum's market cap. Unlike Liquid and RSK for Bitcoin, Polygon uses it's own native token to pay for gas instead of using ETH which makes ETH completely unnecessary.

[Sendi blackspade team]

Polygon is a layer 2 network of Ethereum. It is technically not a competitor but since they created their own token it would be interesting if it could someday overtake ethereum's market cap. Unlike Liquid and RSK for Bitcoin, Polygon uses it's own native token to pay for gas instead of using ETH which makes ETH completely unnecessary.

I am waiting for that time when the capitalization of Polygon will be able to rival or even greater than that achieved by ethereum.
although it is relatively new, when the market sees Polygons with their own coins as a solution and more attractive than ethereum, we will see how this is achieved.

[dogtana]

The correct thing must be there was no competition between ethereum and matic.
(...)

True, I don't agree that Polygon(Matic) compares to Ethereum. Ethereum is extremely far from Polygon(Matic), as we all know Polygon is later 2 sidechain on Ethereum, so it's useless to compare it.
If there is no Ethereum, 100% there is no Polygon(Matic) now.

And when ETH2 comes, there is no Matic either. For the moment I am in a romance with Matic but I shall part with it in time. I am worriied about Matic security and centralisation but for the time being I am pushing the worries aside. Meanwhile BSC and ADA will overtake a share and Binance will also start publicly endorsing  Harmony One as most scalable blockchain with high TPS, decentralisation and security.

[casperBGD]

there is no vs between Ethereum and Polygon, Polygon is working on Ethereum and for Ethereum success, so there is no room for competition

Polygon will capture L2 solutions to Ethereum, since that is an aggregator, and that will be great for future development on Ethereum, since there will be less fragmentation due to several different L2 solutions
price wise, it is the best to do your own analysis prior to investment, do not just listen people from the internet

[Abiky]

there is no vs between Ethereum and Polygon, Polygon is working on Ethereum and for Ethereum success, so there is no room for competition

Polygon will capture L2 solutions to Ethereum, since that is an aggregator, and that will be great for future development on Ethereum, since there will be less fragmentation due to several different L2 solutions
price wise, it is the best to do your own analysis prior to investment, do not just listen people from the internet

Yes. For once, I've thought Polygon was going to challenge Ethereum directly. But after reading more about the project, I've realized that it's all the other way around. With Polygon's scaling solutions, Ethereum could go all the way to the moon in terms of mainstream adoption. This means lower gas fees and greater performance for ETH-based dApps. Several projects begun using MATIC for their own benefit. The more projects use MATIC, the less burden there will be on the main Ethereum blockchain. Imagine how everything would be once ETH 2.0 comes into fruition. MATIC + PoS + Sharding will make alternative smart contract platforms like Binance Chain a thing of the past. Who knows how high MATIC will go in terms of price within a couple of years from now? Just my opinion

[CryptoYar]

No doubt Polygon is a good project. But you must understand that Polygon is just a protocol whereas Ethereum is a blockchain.  So no comparison at all.

What happens to this project when Ethereum normalizes their fees and becomes really cheap fees?

Haha, well said. People need to understand ethereum will fix its flaws, as we know vitalik and his team is working on it.

[warg2017]

I am so sad for ETH, always being use to compare with other currencies, today compared with this currency, tomorrow with that currency, as years went by, the second place in the crypto market is still stable.

[bluebit25]

I am so sad for ETH, always being use to compare with other currencies, today compared with this currency, tomorrow with that currency, as years went by, the second place in the crypto market is still stable.

No problem because people who don't like this coin will always try to find the problems it is having.
I also see that a lot of coins follow the current ETH strength as a target, and in fact we all agree that it still holds the position.

[TangentC]

The new kid in town (Polygon) has been on the rise lately. Many "De-Fi" lending platforms that were on the Ethereum blockchain have switched to Polygon (MATIC). The reasons for such a move are quite obvious. Ethereum's high fees and slow processing times makes it unsuitable for "De-Fi". It's why some people are moving into alternative smart contract platforms like the one mentioned earlier. If the trend keeps up, Ethereum might lose market dominance as its rivals gain traction in the mainstream world. First it was Polkadot, then it was Binance Chain, and now it's Polygon (MATIC). Which of these platforms will beat Ethereum is yet to be seen.

What do you think? Is Polygon (MATIC) better than Ethereum? If not, why? Do you think Polygon has a chance of overcoming Ethereum in the future? Isn't the market saturated with many smart contract platforms already? Your input will be greatly appreciated. Thank you.

IMO, 
Polygon (MATIC) is over pumped and over hyped.

The two worth watching are Algorand and Cardano.   

[imstillthebest]

I am so sad for ETH, always being use to compare with other currencies,

if not eth who do you think is the crypto that is perfect for this comparison .
 no not btc or anything but it was the eth that use that have the feature that they are comparing but sadly eth gone bad  .
 you will understand it if your one of the people that use it before but eth could still be better in some aspects because the coin remains in the second spot .

[harapan]

I don't think any platform will be able to overtake ethereum anytime soon. There is very little time left before the problem of high transaction fees on the ethereum network is solved. This should happen in July. In addition, after the fall in prices in the cryptocurrency market, the payment for gas in the ethereum network is already 30-50 Gwei, which is already quite acceptable. In the near future, most likely, we will see the return of projects to the ethereum platform and a significant increase in demand for this coin.

Actually it will be crazy for anyone to think that matic will replace Ethereum, matic is a L2 on ethereum, so it doesn't stand a chance if we even compare both by their respective marketcap, Ethereum gas fee is no doubt a major issue for eth and while the issue is still not yet resolved other blockchains have used the opportunity to gain attention e.g BSC, at the moment about 98% of all new projects are choosing bsc over eth because of the gas fee issues, when the gas fees issue is resolved we will see projects running on ETH network again.

[pinoycash]

I am so sad for ETH, always being use to compare with other currencies,

if not eth who do you think is the crypto that is perfect for this comparison .
 no not btc or anything but it was the eth that use that have the feature that they are comparing but sadly eth gone bad  .
 you will understand it if your one of the people that use it before but eth could still be better in some aspects because the coin remains in the second spot .

Being the first is the reason why it become the gold standard when it comes to smart contract., ETH are always being compare to every new smart contract platform that being launch to public, But with all these years, ETH remains the gold standard in the token market.

[Ghondronk]

It's true that the Polygon Matic has a huge potential to perform so well in the long run. But it has to do so well even to get closer. Ethereum has proven to be the best of all alts and it is predicted to reach 5 digit value in next few years. Also people are looking forward to see the impact of ETH 2.0as well. Therefore, I still prefer ETH over Matic under prevailing circumstances.

[Similificator]

Even if we put it that way, ethereum will not lose its dominance that easily to the coins you have mentioned despite the advantages that they may currently have to offer to start up projects and the general public. This is because ethereum has already been in this industry too long and has already gained a lot of publicity just like how bitcoin did. And with this logic, even if better platforms emerge suddenly out of the blue like the ones you have mentioned, ethereum will most likely take the same direction as bitcoin and become a store of value too. At least that is the direction in which I think ethereum would be heading if ever its utility gets too far behind the new generation.