Today signals the accomplishment of a critical first milestone in Decentraland’s journey toward a comprehensive layer-2 solution for payments and transactions.
When discussing ways to make dApps more scalable and inexpensive, layer 2 solutions, or L2 in short, are frequently present in the Ethereum community. In a word, a layer 2 solution consists of a blockchain that is independent blockchain from but yet connected to a mainchain. Individuals can move coins and valuables from the main chain to the subsidiary chain. Here they can execute operations at substantially quicker processing rates with negligible to non-existent fees by utilizing a dApp that uses an L2 solution.
The Decentraland dApps package now includes an account gateway. This allows you to transfer MANA from the Ethereum blockchain to Polygon’s Matic Network and vice versa.
This is a component of a bigger initiative to link all Decentraland dApps to Polygon (formerly Matic Network). Players will be welcome to declare, purchase, sell, and exchange accessories for their avatars on Polygon once it implements, and there will be no transaction costs.
Decentraland’s dApps will connect with Biconomy.io to provide meta-transactions, which is possible given the already low gas prices Polygon supplies. You’ll simply need to submit a digital signature through your wallet to complete a transaction on Polygon. Decentraland takes care of the remaining parts.
What makes Polygon exciting?
Gas costs must be paid whenever you make a transaction on the primary Ethereum network. The miners, who are responsible for submitting and validating your transaction to the Ethereum network, collect this payment. As Ethereum gains popularity, the system becomes more crowded. Therefore, forcing consumers to pay higher gas prices.
A secondary blockchain developed to manage the many “microtransactions” created by regular, daily dApp utilization is the answer to how we can develop decentralized applications. An application that conducts thousands of transactions without slowing things down on the blockchain. This also prevents charging consumers expensive gas fees. Polygon has created a scaling solution based on a secondary blockchain safeguarded by a Proof-of-Stake validator network. Today’s news brings the option to move assets in Decentraland from Ethereum to Polygon. People will not feel the impact. Until Decentraland’s Builder and Marketplace modify to accept Polygon transactions, which will be in May. At that juncture, all designers will be eligible to participate in the wearables marketplace, and new wearables will be created on Polygon’s Matic network.
Starting with MANA on Polygon
Go to account.decentraland.org and log in with Metamask or Fortmatic to begin matching your ETH and Polygon MANA. You’ll notice a summary of your MANA balances on each blockchain, or “network”. You can also see a history of any recent activity here.
It’s important to keep in mind that Polygon’s Matic Network is a distinct blockchain from Ethereum. However, moving assets from one blockchain to the other takes a while. You might anticipate a 10-minute wait while importing MANA from Ethereum to Polygon. The time it takes to withdraw MANA from Polygon back into Ethereum can take up to 30 minutes. These lags are attributable to the precautions put in place to keep your assets safe while they’re on Polygon’s sidechain.
But fret not: any acts performed purely on Polygon’s sidechain will still result in lightning-fast transactions.
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