Decentraland, a blockchain-based metaverse, announces a second-layer solution that allows value to be moved with its native MANA token between the Ethereum and Polygon networks. The protocol hopes to migrate completely to the latter blockchain.
The digital city where virtual land plots are traded for several thousand dollars is preparing a second-layer solution that will allow it to boost its ecosystem in the blockchain de Polygon. Decentraland announced the launch of an L2 solution that will serve as an interoperable transaction bridge between Ethereum and Polygon. This bridge will allow users of the protocol to move value with their MANA tokens from the Ethereum blockchain to the Polygon blockchain, which offers high performance and scalability.
“Starting today, the Decentraland dApps suite now features an account portal where you can move your MANA from the Ethereum blockchain to Polygon’s Matic Network (and vice versa).”
As Bit2Me News previously reported, Ethereum's scalability issues and high gas costs are leading many protocols to look for new alternatives on other blockchain networks, which allow for high performance and scalability, and offer cheaper and more accessible fees for everyone. This is precisely what Decentraland aspires to. The protocol wants to migrate all of its dApps permanently to Polygon, Ethereum’s second-layer scaling solution, to offer its users significantly faster transaction times with very low or no commission fees.
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Polygon, an attractive Ethereum alternative
The Decentraland announcement comes just a day after Aave, the third largest protocol in DeFi For liquidity, it will announce its integration with this blockchain network to offer better commission rates to its users; something that will allow Aave participants to enjoy a more scalable decentralized ecosystem and the protocol to offer new products that innovate in the DeFi space.
Another project that has migrated to this blockchain recently is Sushi Swap, which at the beginning of March indicated that the migration to Polygon was part of its evolution and also an alternative for users of the DEX escape the high transaction fees on the Ethereum mainnet.
Ethereum's gas issues are clouding the blockchain's potential, but Polygon is emerging as one of the industry's most attractive alternatives, offering a solution to address the problems ETH faces.
Polygon is a blockchain developed on the second layer of Ethereum that guarantees scalability and interoperability for blockchains. This network has even been called “the Polkadot of Ethereum”, since it is not a common second layer scaling solution, but a complex blockchain ecosystem that allows the design, creation and launch of new chains, all interoperable with each other and with Ethereum.
This is one of the biggest advantages offered by Polygon, which allows developers to build blockchain networks with specific functionalities, very similar to Polkadot's so-called parachains.
More than 1.400% growth in 3 months
MANA, the native token of Decentraland has grown by around 1.440% since the beginning of 2021. The token started the year with a value of $0,07, while at the time of this edition, it is already trading at a value of $1,01 per unit. In mid-March, MANA hit an all-time high of $1,18. Its market cap is also above $1.300 billion at the time of writing.
Its integration with Polygon, and subsequent migration to this blockchain, will allow Decentraland to present itself as a more attractive project for users, allowing microtransactions, to increase the current number of active participants. Decentraland says it will even allow users to claim, buy, sell and exchange products on Polygon, without transaction fees.
By May, metaverse developers plan to update their dApps to support transactions on Polygon, and see the “full effects” of the ability to transfer assets in Decentraland from Ethereum to the Polygon network.
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