Understanding the differences between Polygon (MATIC) and META 1 Coin is a vital step in gaining a more comprehensive overview of the market. Both of these projects were designed to serve different roles in the expanding crypto sphere. Here’s what you need to know about Polygon vs META 1 Coin.
What is Polygon?
Polygon entered the market in 2017 under the title MATIC. The platform was built to provide blockchain developers with an easy-to-use and flexible way to create and administer new networks. The platform provides developers with a host of tools to improve the effectiveness and efficiency of their Dapps. Today, MATIC hosts dozens of Ethereum-based subchains. This designation has earned the network the nickname the “internet of blockchains.”
What is META 1 Coin?
META 1 Coin is an all-inclusive DeFi ecosystem. The network combines a proprietary blockchain with advanced DeFi features to enable anyone to earn a passive income. The network is designed to remove the technical barriers to large-scale adoption and to provide the world with a more fair and balanced monetary system.
What Problems was Polygon Built to Alleviate?
Polygon addresses several issues in the market today. For one, the platform reduces developer restrictions. To accomplish this task, the team introduced a customizable tech stack and zero gas transactions. This approach empowers developers to create new blockchains and robust Dapps.
Another major concern for Polygon developers was high fees. The network eliminates these fees by introducing a new consensus mechanism. This addition also improves scalability. Notably, the network leverages custom wasm execution environments to improve overall responsiveness.
What Problems was META 1 Coin Built to Alleviate?
META 1 Coin was built to provide the world with a better way to conduct day-to-day transactions. The developers behind the project wanted to create a viable alternative to today’s financial systems. Their goal was to give regular users the power to stand up against the financial hegemony of the market.
Scalability was one of the main concerns for developers. META 1 Coin introduces a DPoS blockchain that is capable of conducting trades on par with today’s top exchanges such as the NYSE and NASDAQ. This strategy provides META 1 with lightning-fast transaction times and the ability to service the population without the need to introduce second-layer protocols.
Security was the primary issue that developers wanted to ensure when creating the blockchain. To that extent, the entire project is open source. Additionally, the network has undergone multiple third-party code audits.
META 1 Coin users have a very low fee structure and more stability than the competition. Notably, the META 1 coin was designed to withstand volatility, inflation, and manipulation. The network goes as far as preventing non-human entities from owning the coin.
How Does Polygon Work?
Polygon introduces a variety of new systems to create a vibrant multi-chain ecosystem for developers and users. The protocol sets a framework for building and connecting Ethereum-compatible blockchain networks in new ways. There are two major components of Polygon – stand-alone chains and secured chains.
Stand-alone chains are geared towards large enterprise-level clientele. These subchains can support huge communities of users and operate with a high level of independence. Developers can create security parameters to meet their specific needs. Additionally, they can set up a separate validator pool to further customize their networks.
Secured Chains provide the benefits of blockchain technology to startups. These networks are smaller and more rigid than their large stand-alone counterparts. They provide top-notch security and can leverage Ethereum’s blockchain when needed. Notably, secured chains provide both fraud and validity proofing mechanisms.
Polygon is unique in that it provides developers with a host of one-click solutions. There is a modules section that they can simply scroll through and add features to their network as they desire. These modules include vital components such as consensus, staking, governance, EVM/Ewasm, execution environments, dispute resolvers, and much more.
How Does META 1 Coin Work?
META 1 Coin combines a powerful DEX, a new type of stable coin, and DeFi features in a way that provides users with a variety of wealth generation methods. The network incorporates features such as staking and a high yield bank account which sets it apart from the competition.
One of the coolest things about META 1 Coin is its anti-manipulation protocols. These systems are designed to prevent whale interference. Whale interference is a term describing when large investors start to pump and dump a project. META 1 coin prevents this issue through the introduction of a Non-Human Entities contract. This smart contract ensures that corporations and other institutions may not purchase META 1 Coin.
Polygon provides developers with a variety of different consensus options when creating their network. As such, the network’s sustainability varies depending on the networks that live atop it. In comparison, the META 1 coin leverages a DPoS consensus mechanism to reduce the overall energy consumption required to secure the network.
The Polygon (MATIC) token is used by developers to interact with Polygon’s features. Users need to lock Polygon into smart contracts to launch new blockchains on the platform. Currently, Polygon has a TVL of $6,327,324,504. You can find the token on many of the top-performing exchanges in the world including Binance, Huobi Global, FTX, CoinTiger, and VCC Exchange.
META 1 Coin represents a shift in the way stablecoins are designed. The token introduces a multi-asset gold-based protocol to ensure that META 1 Coin users avoid volatility. Interestingly, the token is the first in the market to employ a self-appreciating mechanism. Specifically, the token has a smart contract stipulation that prevents users from selling their tokens under asset value.
Polygon (MATIC) vs META 1 Coin – Two Project with Very Different Goals
It’s easy to see that Polygon and META 1 coin serve different roles in the market. Polygon was built to help expand and organize the growing number of Ethereum-based networks emerging in the market. Whereas, META 1 seeks to provide a way for regular users to fight back against financial corruption. As such, both projects can have the potential to upend different sectors of the market moving forward.