NFT

What is Ethereum?

Ethereum is a community-run technology based on blockchain technology powering cryptocurrency Ether(ETH) and thousands of decentralized applications. It can establish a secure network for the verification of application code also known as smart contracts. Ethereum provides visibility of transactions and full ownership of them and also gives verifiable and secure transactions. Ethereum account must be set up for the transactions, the transaction is done in terms of ether which is Ethereum’s native currency....

What is Polygon?

Polygon is Ethereum-based blockchain technology that provides more scalability platforms. It is a layer 2 aggregator which aims at creating a multichain Ethereum ecosystem. Polygon leverages Ethereum security. The primary aim of the polygon is to expand usage of the Defi (Decentralized finance) tools and applications. Polygon’s network is presently hosting around 3000 decentralized applications also more than 80 big-name companies have drifted toward polygon from the Ethereum main chain. Developers find polygon very similar to Ethereum which makes them migrate from Ethereum to other EVM(Ethereum virtual machine) blockchain-like polygon where they can find reach and increase usage....

NFT

Non-fungible token creates a unique digital signature of digital assets, this signature describes the ownership of your assets which can be bought and sold for real money or any other asset like NFT. An NFT is not interchangeable and every NFT speaks for a unique resource owned by a specific person. Every NFT consists of distinguishable details like the owner of the digital resource and who sold it to whom, making NFT verifiable and well defined. It is impossible to forge or copy NFTs as it is impossible to forge digital certificates hence NFTs provide the best security to one’s assets and resources....

Ethereum vs Polygon

1. Consensus: Ethereum uses a consensus technique known as PoW(Proof of Work). The issue with Ethereum is that it necessitates a lot of processing power. Ethereum requires a significant amount of energy and It results in decreasing participation of users. This mechanism increases security to some extent. In polygon consensus is achieved by the mechanism based on PoS(Proof of stake), If a user joins the Polygon network, they would be rewarded in the form of points. Consensus is achieved faster in the Polygon blockchain....