Working On Polygon — A Layer 2 Solution
Initially, the entire ENCTR ecosystem was going to live on Ethereum. However, the ENCTR team decided to deploy our token to the Polygon network instead, as we were building our modules on the Polygon network regardless of where the treasury resides. There were a few other factors at play
- Polygon is widely accepted everywhere. You can purchase $MATIC from every exchange out there.
- Polygon is a Layer 2 solution for Ethereum which is battle-tested and a very secure blockchain.
- Polygon PoS is gaining popularity fast.
- Developer tools available for EVM based chains and Polygon are fantastic.
If you haven’t read about Polygon and everything their team is doing, we urge you to check out their website (https://polygon.technology/) and learn more about them. We are really excited about the Polygon tool set and everything they offer.
While our token will be deployed to the Polygon PoS network, we will always be assessing how and where ENCTR will live in the future. As technology grows and better opportunities present themselves, we may decide to bridge to another network.
Curious about bridging? Here’s a great article by CoinMarketCap to help you out.
For now, our treasury and assets are stored on the Polygon blockchain for its tie-in to Ethereum security; for our modules, such as Battlescape and Arsenal, those will all be built on Polygon to utilize the faster transaction speed and low gas fees.
Why Choose Polygon To Work On?
The Main Reasons:
- Polygon Fee Structure
- Faster Network
- Greater Scalability
- Environmental Impact
- Ease of Introduction and Use
One of the biggest benefits of the Polygon system is the fee structure that it provides.
This can get pretty in depth, so if you haven’t already read up on the difference in the fee structures, or what gas is, please take a second to do that.
While you’re working within the Polygon ecosystem, you’re utilizing their layer 2 solution of Ethereum for a much lower cost. Rather than paying high ETH gas fees with each module transaction, you’ll be paying significantly less in Polygon fees. This is particularly important when you look at Battlescape. Imagine placing a $5 (ETH) wager, and paying $50 in gas. You have automatically lost money. The use case for Battlescape absolutely requires low fees, and Polygon is perfect for that.
Polygon combines what's called the Plasma Framework, and a Proof of Stake architecture. Combining those two reduces the gas charges while increasing the transaction speed by an incredibly high amount.
Polygon is able to manage around 7,000 transactions per minute, where Ethereum only manages around 900 transactions in the same time period. Your $ENCTR transaction will process through at a much faster rate which, when it comes to Battlescape, can make all the difference. You’re not waiting minutes for blockchain confirmations to happen and your work to be approved, instead you’re waiting seconds.
At this point it’s not a secret that Polygon has become the go-to layer two solution for Ethereum. Several of the major players in the Web 2.0 space, and over 19k players in the Web 3.0 space, are utilizing Polygon to build their ecosystems.
Polygon just announced that META (previously Facebook) will be utilizing their chain in the short-term.
By being one of the first to build our modules and ecosystem within Polygon we are setting ourselves up to be uniquely positioned to work with other applications built on the layer two solution as well. Just by sheer volume of applications and organizations being created on Polygon we are able to scale our integration with these other ecosystems in a much larger, and faster, way than we would if the applications lived on Ethereum alone.
There are so many reasons that we chose Polygon, and each one of them is a pretty substantial. Probably the second biggest reason we chose Polygon, even bigger than the previous two and second only to the next by a small margin, was the environmental impact that Polygon has on the planet.
It’s no secret that blockchain technology built on Proof of Work architecture is bad for the planet, as far as usage of electricity goes. There’s plenty of information out and about on that, and it’s a real problem. Polygon offers a solution. Our modules will be built heavily on multiple transactions in a short time frame (Battlescape), NFT integration (Arsenal) and prize delivery (Legions). All of these models impact the environment in one way or another. Building on Polygon allows us to be Carbon Neutral by 2022, and into Carbon Negative shortly.
Both our team and our users will utilize the ecosystem to its purpose, without worrying about adding extra pressure on our planet. A big win for blockchain technology, in our opinion.
Lowering The Entry Barrier
If you’ve been around cryptocurrencies for any amount of time, you’ll know that it is not easy to understand or use at first. It’s complicated and can be quite scary for a person thinking about getting into it off the sheer level of information you need to know and things you need to have to get started.
The good thing is that most of that is a one-time thing, typically seen in setting up accounts or wallets. Since that’s where most users fall off, it’s clearly an issue with the process. Polygon helps us solve that problem by allowing our new users to be introduced first through the Polygon system and onboard there. Users will get a good idea of what the space is like and what tools they’ll need to exist, in a much less intimidating way.
The barrier to entry in Web 3.0 and crypto is too high right now, and turning off a lot of people. For this space, and thus this community, there has to be a solution to the entry floor. We believe that it will be Polygon and other layer two solutions on other chains.
We wanted to share a little bit about why we made the choices we did and give you all a little insight into why the team is so bullish on Polygon. If you have any questions about Polygon or why ENCTR is building on it, don't hesitate to reach out and ask us.
For any project related questions:
Luka Antolic-Soban - Chief Executive Officer - firstname.lastname@example.org
For any partnership, influencer or marketing related questions:
Aaron Nichols - Chief Brand Officer - email@example.com
Head of digital marketing, relations, and brand direction.