With its community continuously looking for new chains, and after its successful deployment on the Binance Smart Chain (BSC), the protocol is already working on its expansion on other chains, with its next stop being Polygon.
Ready For Polygon Integration
Tornado.Cash has already laid the groundwork for its deployment on Polygon, with the protocol ready to be a part of the famous Ethereum Layer-2 solution. With its deployment on Polygon, Tornado.Cash will get exposure on a platform that is well known in the space for its impressive network scalability and transaction speeds.
With the Tornado.Cash contracts ready, the protocol is looking at a bit of help from the community to help deploy it effectively on Polygon. All users have to do is deploy the contracts using the app.
What Are The Advantages Of Polygon?
Polygon, previously known as the Matic Network, is a Layer-2 scaling platform. Layer-2 solutions like Polygon relieve the congestion on the main chain, which is precisely what Polygon does. Through Polygon, users can carry out inexpensive and quick transactions off-chain. These can be for both smart contracts and payments.
Largest Privacy Solution Provider
Tornado.Cash’s integration with Polygon will help the former establish its influence as the largest privacy solution provider. The deployment will enable privacy for Polygon token holders and attract new liquidity providers to traditional pools, extending the protocol’s usage significantly.
The Polygon integration will also give Tornato.Cash access to an extended network of decentralized applications that are on Ethereum.
A Closer Look At Polygon
Taking a closer look at Polygon, it becomes obvious why deploying on it would offer significant advantages to Tornado.Cash. The Polygon Network processes almost 7.5 million transactions every day. The Ethereum blockchain, on the other hand, has a daily transaction limit of 1.8 million transactions. Clearly, Polygon is able to process way more transactions than Ethereum.
Polygon has also seen an influx of decentralized applications on its network, with over 350 decentralized applications currently using Polygon. The platform’s native token is currently the 16th largest cryptocurrency in the market, with a market capitalization of $7,159,069,904.
Because Polygon is a Layer-2 solution, it has a significant advantage when it comes to prices on the Ethereum main chain. For context, the average gas fee for transactions on Polygon is 4 Gwei. On Ethereum, there have been instances when the fee has crossed 28 Gwei.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.