Polygon PoS Chain – A Commit Chain? DeFi Explained

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

(Visited 8 times, 1 visits today)

You might be interested in

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *

kusama
Kusama (KSM) 160,37 2,41%
compound-governance-token
Compound (COMP) 335,36 1,24%
dash
Dash (DASH) 131,01 7,43%
zcash
Zcash (ZEC) 88,60 2,37%
yearn-finance
yearn.finance (YFI) 25.707,26 0,08%
bitcoin
Bitcoin (BTC) 34.376,10 7,36%
ethereum
Ethereum (ETH) 1.972,27 3,17%
tether
Tether (USDT) 0,847725 0,75%
cardano
Cardano (ADA) 1,11 2,30%
xrp
XRP (XRP) 0,619913 14,52%
dogecoin
Dogecoin (DOGE) 0,179631 4,42%
polkadot
Polkadot (DOT) 12,44 4,93%
usd-coin
USD Coin (USDC) 0,856202 0,02%
uniswap
Uniswap (UNI) 16,30 2,46%
bitcoin-cash
Bitcoin Cash (BCH) 436,21 6,11%
chainlink
Chainlink (LINK) 16,67 5,06%
matic-network
Polygon (MATIC) 0,881634 2,51%
solana
Solana (SOL) 24,18 0,06%
litecoin
Litecoin (LTC) 117,92 5,87%
stellar
Stellar (XLM) 0,234720 4,13%
ethereum-classic
Ethereum Classic (ETC) 42,63 3,06%
eos
EOS (EOS) 3,32 4,73%
tron
TRON (TRX) 0,052268 3,43%
filecoin
Filecoin (FIL) 42,98 2,71%
aave
Aave (AAVE) 258,28 0,23%
monero
Monero (XMR) 194,90 4,00%
dai
Dai (DAI) 0,847725 0,61%
tezos
Tezos (XTZ) 2,44 0,17%
cosmos
Cosmos (ATOM) 9,94 1,72%
algorand
Algorand (ALGO) 0,733435 0,13%