Skale vs Polygon: A Comprehensive Comparison

As the cryptocurrency space grows and evolves with more and more dApps and DeFi protocols being launched every day, there is an ever growing need for blockchains that can handle the high volume of transactions and provide a secure network for users and developers.

In this article we cover two of the blockchains that are offering just this, Skale vs Polygon.

Skale vs Polygon | A Comprehensive Comparison

While Polygon and Skale have a lot of differences to do with their technology and how the networks run however one aspect they do have in common is that both networks are built on top of Ethereum making both chains EVM compatable and both the SKL token and the MATIC token ERC-20 tokens. While they may have this is common both blockchains have their own respective pros, cons and specs which we will look into.

Polygon

Polygon, formally known as Matic, is a decentralized layer 2 network that is built on top of Ethereum to help Ethereum with its scalability and congestion issues. Polygon became very popular as developers could build and deploy dApps on Polygon at a fraction of the price as they could on Ethereum while still using the same language and maintaining the same high level of security. Polygon runs on a proof of stake conensus mechnism which allows users to own or delegate to a validator which processes transactions.

Transaction Speeds

Polygon can process up to 65,000 transactions per second which is a vast improvement from Ethereum in which they are built on top of. With an average block processing time of just 2.1 seconds this makes Polygon one of the fastest blockchains in the space.

Compare this to Ethereums 15 to 30 transactions per second and you can see why Polygon was developed and just how efficiently it is working to help solve Ethereums scalability and congestion problems.

Transaction Fees

As a layer 2 blockchain built to help Ethereum process transactions it was key that the Polygon team managed to get transaction fees low as this is one area where Ethereum was really struggling with gas fees ranging anywhere form $10 right up into the hundreds.

Polygon has managed to achieve the goal of low transaction/gas fees with fees of just 0.0472 $MATIC per transaction, at today's rate that converts to be around just $0.037 per transaction which is incredibly low.

Team

A project is nothing without its team. Polygon was launched in 2017 under the name Matic Network. In 2021 Matic Network rebranded to Polygon and has since expanded its team and use cases.

Founded by three software engineers in 2017, Jaynti Kanani, Sandeep Naiwal and Anurag Arjun.

Polygon has raised over $450 million from Sequoia Capital India, Softbank and Tiger Global giving Polygon the funding they need to continue expanding and continue running their operations no matter the market conditions.

Skale

Skale is an open source decentralized blockchain that prides itself in scalability, speed and zero transaction fees. Skale achieves its high transaction output and zero end user fees by using what they call elastic sidechains, we’ll dig into this later on in the article.

Founded in 2017 with the mainnet launching in 2020 the platform quickly attracted significant usage in the DeFi sector due to its zero gas fees and scalability, since then Skale has continued to grow while raising $40 million in funding from notable investors such as Andreessen Horowitz and Blockchain Capital.

Transaction Speeds

Skale offers instant finality and upwards of 2000 transactions per second which may not be as fast as Polygon however with instant finality and Skales unique multi chain blockchain (which we will get into soon) Skale could very well be more scalable than Polygon.

Transaction Fees

This is where Skale really thrives being one of the only if not the only blockchain to offer zero gas fees to the end user. Simply put this is done by Skale adopting a subscription based model where protocols or dApps can pay a monthly chain fee which covers the transaction costs of their end users and pays the validators processing the transactions directly.

This is done partly by Skale not being a singular individual chain but rather a whole network that hosts multiple blockchains created by developers to suit their specific needs, this is a very unique model and as far as I know Skale is the only blockchain adopting this technology.

Team

Founded in 2017 Skale was founded by Stan Kladko and Jack O’Holleran. Stan has spent 16 years in Silicon Valley and has an impressive 18 years in the cryptography space, with a handful of successful start ups prior to Skale and being an active member and contributor to the Ethereum Research Foundation it is safe to say Stan has the required experience to run Skale.

Jack is also a Silicon Valley Entrepreneur with a background in AI and machine learning which lead him to blockchain technologies. Jack has been in the cryptocurrency space since 2013 so it is safe to say he is a veteran in the space and similar to Stan has the credentials to back it up.

As the cryptocurrency space grows and evolves with more and more dApps and DeFi protocols being launched every day, there is an ever growing need for blockchains that can handle the high volume of transactions and provide a secure network for users and developers.

In this article we cover two of the blockchains that are offering just this, Skale vs Polygon.

Skale vs Polygon | A Comprehensive Comparison

While Polygon and Skale have a lot of differences to do with their technology and how the networks run however one aspect they do have in common is that both networks are built on top of Ethereum making both chains EVM compatable and both the SKL token and the MATIC token ERC-20 tokens. While they may have this is common both blockchains have their own respective pros, cons and specs which we will look into.

Polygon

Polygon, formally known as Matic, is a decentralized layer 2 network that is built on top of Ethereum to help Ethereum with its scalability and congestion issues. Polygon became very popular as developers could build and deploy dApps on Polygon at a fraction of the price as they could on Ethereum while still using the same language and maintaining the same high level of security. Polygon runs on a proof of stake conensus mechnism which allows users to own or delegate to a validator which processes transactions.

Transaction Speeds

Polygon can process up to 65,000 transactions per second which is a vast improvement from Ethereum in which they are built on top of. With an average block processing time of just 2.1 seconds this makes Polygon one of the fastest blockchains in the space.

Compare this to Ethereums 15 to 30 transactions per second and you can see why Polygon was developed and just how efficiently it is working to help solve Ethereums scalability and congestion problems.

Transaction Fees

As a layer 2 blockchain built to help Ethereum process transactions it was key that the Polygon team managed to get transaction fees low as this is one area where Ethereum was really struggling with gas fees ranging anywhere form $10 right up into the hundreds.

Polygon has managed to achieve the goal of low transaction/gas fees with fees of just 0.0472 $MATIC per transaction, at today's rate that converts to be around just $0.037 per transaction which is incredibly low.

Team

A project is nothing without its team. Polygon was launched in 2017 under the name Matic Network. In 2021 Matic Network rebranded to Polygon and has since expanded its team and use cases.

Founded by three software engineers in 2017, Jaynti Kanani, Sandeep Naiwal and Anurag Arjun.

Polygon has raised over $450 million from Sequoia Capital India, Softbank and Tiger Global giving Polygon the funding they need to continue expanding and continue running their operations no matter the market conditions.

Skale

Skale is an open source decentralized blockchain that prides itself in scalability, speed and zero transaction fees. Skale achieves its high transaction output and zero end user fees by using what they call elastic sidechains, we’ll dig into this later on in the article.

Founded in 2017 with the mainnet launching in 2020 the platform quickly attracted significant usage in the DeFi sector due to its zero gas fees and scalability, since then Skale has continued to grow while raising $40 million in funding from notable investors such as Andreessen Horowitz and Blockchain Capital.

Transaction Speeds

Skale offers instant finality and upwards of 2000 transactions per second which may not be as fast as Polygon however with instant finality and Skales unique multi chain blockchain (which we will get into soon) Skale could very well be more scalable than Polygon.

Transaction Fees

This is where Skale really thrives being one of the only if not the only blockchain to offer zero gas fees to the end user. Simply put this is done by Skale adopting a subscription based model where protocols or dApps can pay a monthly chain fee which covers the transaction costs of their end users and pays the validators processing the transactions directly.

This is done partly by Skale not being a singular individual chain but rather a whole network that hosts multiple blockchains created by developers to suit their specific needs, this is a very unique model and as far as I know Skale is the only blockchain adopting this technology.

Team

Founded in 2017 Skale was founded by Stan Kladko and Jack O’Holleran. Stan has spent 16 years in Silicon Valley and has an impressive 18 years in the cryptography space, with a handful of successful start ups prior to Skale and being an active member and contributor to the Ethereum Research Foundation it is safe to say Stan has the required experience to run Skale.

Jack is also a Silicon Valley Entrepreneur with a background in AI and machine learning which lead him to blockchain technologies. Jack has been in the cryptocurrency space since 2013 so it is safe to say he is a veteran in the space and similar to Stan has the credentials to back it up.

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