It is a new day on 1xBit, the crypto betting platform, as it gets ready to unveil its latest addition.
1xBit completed a recent upgrade to enable it to accept Polygon (MATIC) as a payment method on the website.
The latest change is a welcome development for the crypto space and bettors on 1xBit, who now have the opportunity to enjoy more options as they play and bet.
Who Founded the Polygon Project?
The Polygon Project was co-founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic.
Co-founders came together to solve the problems faced by Ethereum by launching the Polygon project – the project was launched in October 2017, and it has since gained popularity and acceptance in the crypto community.
The Basics of Polygon
The crypto space always gets exposed to new products and solutions, as seen with the advent of Ethereum, which is set to correct the errors observed in Bitcoin.
Similarly, Ethereum may be the muster point for DeFi development and the most secured smart contract solution. However, it is not without major limitations like lack of Blockchain interoperability and slow or stagnant transactions – limitations that the Polygon network seeks to solve.
Polygon is a project launched on the Ethereum network but works to create a multi-ecosystem of other blockchains on the Ethereum chain. Polygon promotes interoperability by ensuring that developers have easy access to tools enabling them to build and launch other blockchains without needing to start coding from scratch.
With Polygon, you have a system that permits broader communication between different Blockchains, a functionality that was not readily available.
The Polygon network uses MATIC as its native cryptocurrency for funding transaction fees on DeFi and NFT marketplaces.
The working mechanism of Polygon shows a remarkable project in all aspects and underlines why 1xBit wants its community to have access to it.
What Makes Polygon Special
Since Ethereum is a very big network, there is a lack of an easy upgrade, but Polygon was able to refine itself as a blockchain that can be easily scalable.
Even though creators built the network on Ethereum, which uses a Proof-of-Work governance structure, Polygon was built on a side chain of Ethereum on a customized version of Proof-of-Stake – a more acceptable and scalable protocol.
With these features, Polygon is equipped to deliver over 65,000 transactions per block compared to Ethereum, which can only process about 15 transactions per second. The lack of delays will also ensure reduced transaction fees from the usual 10-30 USD seen on Ethereum transactions.
The uniqueness of Polygon opens a new shore for crypto gambling; to make it more accessible and easy as players surf the 1xBit website.
What 1xBit Offers
1xBit constantly adds new crypto tokens for its players to use. Thus, Polygon is the latest addition to the over 40 cryptocurrencies available on the website.
1xBit, as a crypto betting site, has simplified every aspect of betting to become innovative like Bitcoin. First, registration is easy because you only need an email address.
Second, transactions on the website are fast and routed to avoid unnecessary delays. And even a rare occurrence is that you do not have to lose a dime to 1xBit because of transaction fees; on 1xBit, you pay zero fees.
Players still enjoy an anonymity shield on all transactions on the platform, which is backed by its use of blockchain as a foundation.
On 1xBit, it even gets better if you are new because there is a full welcome package of up to 7 BTC bonus waiting for you on your 1-4th deposits.
Conclusion
Suppose you have yet to use Polygon before now. In that case, it is time to enjoy Polygon on 1xBit – it was engineered to make your experience amazing!
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Tagged: crypto blog, Crypto news, Press Release