- Polygon and Hedera are leading networks designed to create solutions that advance the blockchain ecosystem.
- While both networks share similarities, their differences are outstanding and collectively disruptive.
The Polygon network and the Hereda network are two platforms that seek to solve a significant problem in the cryptocurrency and blockchain ecosystem. Although both networks are similar in many ways, they cater to different audiences and solve different problems. Notably, Polygon and Hedera are both designed to tackle the issue of network scalability and performance in distinct ways.
The Polygon network launched in 2017, dubbed MATIC after its initial launch. The Polygon network remains integral to the Ethereum blockchain as it seeks to eliminate a long-standing issue the network had struggled to tackle since its inspection. Ethereum’s inability to maintain scalability and resolve the continuous upsurge in network fees warranted a lot of criticism from market participants.
MATIC, now known as Polygon, sought to scale the Ethereum network. So far, Polygon has made significant progress in resolving some of Ethereum’s major network challenges by providing it with a handful of software development tools.
Thanks to Polygon, transaction delays are a thing of the past for Ethereum. Polygon continues to enhance Ethereum’s performance with a sidechain and scalable consensus algorithm.
The Hedera network is on a mission to advance smart contracts and revolutionize the blockchain ecosystem
Meanwhile, Hedera, a decentralized, open-source, proof-of-stake public ledger, was launched in 2018. The public network is a governing body designed to make room for building and deploying decentralized applications.
The network is not only a secure platform for developers but also fast and energy-efficient, thanks to its underlying hashgraph consensus algorithm. The Hedera network serves developers with consensus, token services, and solidity-based smart contracts.
“The Hedera public network is proof-of-stake and built on the open source hashgraph distributed consensus algorithm, invented by Dr. Leemon Baird, Hedera Co-founder and Chief Scientist. The hashgraph consensus algorithm provides near-perfect efficiency in bandwidth usage and consequently can process hundreds of thousands of transactions per second in a single shard (a fully connected, peer-to-peer mesh of nodes in a network).”
By design, Hedera is capable of improving Dapp programmability, as well as overall blockchain performance. The network utilizes an algorithm that strengthens network security and speed. The Hedera network can support more than 10,000 transactions per second. Hedera also offers decentralized smart contracts designed to power decentralized applications.
“Hedera Smart Contract service lets you program in Solidity and utilizes the Besu Ethereum Virtual Machine (EVM). The Besu EVM has been specifically optimized for the Hedera network and hashgraph consensus, allowing for hundreds of transactions per second, low and predictable fees, a carbon-negative footprint, and incredible performance at 15 million gas per second.”