New Cryptocurrency at Authic - Polygon

Authic Labs has recently launched Polygon as a cryptocurrency on Authic. This means that users of Authic’s white-label solution will now be able to tie Polygon as the chain of their own marketplace. Find out why it can be very beneficial to Authic users.

Polygon

Previously known as Matic Network, Polygon is a cryptocurrency closely linked to Ethereum. Polygon helps to solve the scalability problem of Ethereum. That is, while Ethereum focuses on decentralization and security (at the expense of scalability), making this cryptocurrency's transactions slow and expensive, Polygon addresses these problems. To put it in reference, currently, Ethereum processes 14 transactions per second, while Polygon - 7,000.

Benefits to Authic users

Now that Polygon is integrated to Authic marketplaces, our users can gain even more satisfaction from their own customized marketplaces. Here are 3 main reasons:
  1. Scalability. With the growing demand for NFTs, it is important that companies are prepared to work with large amounts of transactions on their NFT marketplaces. Polygon helps to drastically increase this amount of transactions.
  1. Lower transaction fees. Polygon offers much lower transaction fees compared to other blockchains such as Ethereum. This means that Polygon makes NFT transactions (buying and selling) way more cost-effective for interested parties, which can increase overall adoption and activity in the marketplace.
  1. Faster transactions. Polygon’s technology enables to process thousands of transactions per second, consequently, decreasing the waiting time for both companies and their customers.

Try Polygon yourself

Stop missing out and try scaling transactions on your own NFT marketplace with Authic’s no-code white-label solution. Not sure where to start? Read this blog or just schedule a free demo with our skilled team, and receive strategic advice on how to get started.