Bankless SotN #34: Polygon: Ethereum's Internet of Blockchains – Mihailo Bjelic & Sandeep Nailwal
Feb 17, 2021
Sandeep Nailwal and Mihailo Bjelic, co-founders of Polygon, share their insights on Ethereum's 'Internet of Blockchains.' They discuss how Polygon addresses scaling challenges and the importance of interoperability in decentralized finance. The duo emphasizes the multi-chain future of crypto, highlighting the need for seamless connectivity among various blockchains. They also dive into the significant growth of DeFi on Polygon, showcasing its competitive yet collaborative ecosystem, while touching on the implications of the MATIC token and the advantages of reduced gas fees.
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Internet of Blockchains
- The future of blockchain is multi-chain, due to scalability challenges and diverse project requirements.
- Connecting these chains is crucial, creating an 'internet of blockchains'.
Polygon's Differentiation
- Existing 'internet of blockchains' projects like Cosmos and Polkadot build separate ecosystems, unlike Polygon.
- Polygon leverages Ethereum's network effects and offers unopinionated solutions, catering to diverse developer needs.
Ethereum as Settlement Layer
- Ethereum's maturity, proven security, and established developer ecosystem make it the likely settlement layer.
- Other blockchains face significant hurdles in replicating Ethereum's organic growth and network effects.