OVR has effectively accomplished the initial stage of the two-phase migration thereof to the Polygon Network. The move was initiated in January with showing remarkable results in the program, with the deployment of the second phase to start in February. The venue has announced to have transferred the minting functions as well as the Merkle Proof from the network of Ethereum over to the network of Polygon, permitting for the minting of NFTs at low charges.
Moreover, OVR additionally declared that the payments on Polygon have been transferred to Ethereum and presently the primary market consumers can avail the payments on the BSC network. This will result in a significant decrease in transaction costs along with the provision of greater scalability required for the project of the metaverse. Ethereum may be termed as the prominent platform for smart contracts in the world of cryptocurrency however it is doubtless that the network is over-saturated and overcrowded.
The selection of Polygon
The high-demand network of Ethereum as well as its failure in providing an adequate scaling as well as incorporating suitable advancement has resulted in the problems related to high charges and scalability, which are now prominent in the industry of digital assets. Due to the respective issues, OVR (a program originally based on the network of Ethereum, required to provide its consumers with low charges for minting and transacting by transferring its activities to Polygon.
The increased number of people adopting the blockchain of Polygon as well as the network’s familiarity with the Ethereum network additionally assists in drastically minimizing the hazard of lagging. The landscape of blockchain scalability is broad and rapidly evolving. In this regard, selecting a solution instead of another does not count as a simple job and it is an issue of multiple variable aspects, as noted by the website.
The trade of OVR through Polygon
The trading of OVR tokens via Polygon was never economical. Consumers can now conveniently swap the OVR tokens thereof over the Uniswap V3 implementation of Polygon. Gas charges for every swap are nearly at $0.01 which is cheaper and easier. Apart from this, the customers can suitably move OVR tokens between Ethereum and Polygon in a reciprocal manner through utilizing the Polygon Bridge (a convenient decentralized application that just requires the consumers to link their wallets to it).
James Thompson