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Which blockchain network, Polygon or Ethereum, has lower transaction fees?

avataraaaaStudentDec 26, 2021 · 3 years ago1 answers

When comparing the transaction fees of Polygon and Ethereum, which blockchain network has lower fees? I'm interested in knowing which network offers a more cost-effective solution for conducting transactions. Can you provide insights into the fee structures of both networks and explain which one generally has lower fees?

Which blockchain network, Polygon or Ethereum, has lower transaction fees?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    When it comes to transaction fees, Polygon and Ethereum have different fee structures. Ethereum, being the more established and widely used blockchain network, often has higher transaction fees due to its popularity and network congestion. On the other hand, Polygon, a layer 2 scaling solution built on top of Ethereum, aims to provide lower transaction fees and faster transactions. By leveraging Polygon's sidechain technology, users can enjoy reduced fees compared to directly transacting on the Ethereum network. However, it's important to note that transaction fees can vary depending on network demand and congestion at any given time. Therefore, it's recommended to check the current fee rates on both networks before making any transactions.