Polygon PoS Chain - A Commit Chain? DeFi Explained

So what is a commit chain? How is it different from a sidechain? And what makes Polygon Commit Chain a commit chain rather than a sidechain? We’ll answer all of these questions in this video.
Let’s start with understanding what exactly a sidechain is.
A sidechain, in essence, is a separate blockchain that can be used as one of the ways of scaling a Layer 1 blockchain such as Ethereum or Bitcoin. As the name suggests, a sidechain runs in parallel or “on the side” of the main chain.
Sidechains have their own consensus mechanisms usually in the form of Proof-Of-Stake, Delegated-Proof-Of-Stake or Proof-Of-Authority.
Sidechains allow users to send their tokens from the main chain and receive them on the sidechain. Once the funds are transferred to the sidechain they can be used within the sidechain ecosystem. Similarly, users can withdraw their tokens from a sidechain back to the main chain. The whole process is called a 2-way peg or a 2-way bridge. Thing to note is that once the user tokens are on the sidechain then they are completely reliant on the consensus mechanism of the sidechain
Initially, all scaling solutions such as sidechains, Plasma and rollups were classified as Layer 2 solutions as they are built on top of Layer 1.
After a while, the Ethereum community started differentiating between scaling solutions fully secured by the Ethereum main chain - Layer 2 and other scaling options with their own consensus mechanisms - sidechains. At the moment, pretty much all scaling solutions are classified as either one or the other.
When it comes to Polygon Commit Chain, it is worth differentiating it from a sidechain as it has a lot of extra features that rely on the security of the main Ethereum layer.
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[@Finematics]

❓ What do you think about Polygon Commit Chain? Comment down below 👍 Hit the like button if you enjoyed this video 💛 Support Finematics on Patreon and join our Discord community ► www.patreon.com/finematics 🐦 Follow Finematics on Twitter ► twitter.com/finematics 📘 Check out our FREE Guide to DeFi ► finematics.com/guide-to-decentralized-finance/

[@nothingreallyexists7580]

$matic price will go to another galaxy🚀🚀🚀🚀

[@jadeemme3697]

very imformative video! never knew blockchains can work like that. as someone who's ignorant to a lot of this, this was helpful-- especially with terminology of parachain/ commit chain/etc. speaking of, can you make a video about $cell cellframe? they;re saying "quantum-resistant" chain and i'm like, well, does that even MEAN anything? i had that same idea about polygon like what does "commit chain" even mean, but this video helped.

[@alenngk]

I see, censorship?

[@jadeemme3697]

@@alenngk I don't know. Sometimes i feel like blockchain projects just throw terms around as buzzwords but it doesn't mean much. This video at least cleared a few things up for me for polygon.

[@gypsyauh2o]

I'm just now finding your channel. These are the best "explainer" videos I've ever seen. Good job dude!

[@Proxy412ForToo0hh]

You are an outstanding teacher for the most important crypto concepts and projects. Keep putting out bangers, I could watch to you talk and draw about Polygon all day. Cheers!

[@Finematics]

Thank you! :)

[@Shivtan]

@@Finematics Your explanation are amazing , i found your channel few days ago and I am watching your all videos Thanks for such amazing details video Please make a explanation video on " "Solana Ecosystem" & it's solana token And please upload regular video we need more videos from you @Finematics Please

[@vikingemcee1242]

@@Finematics Is Polygon MATIC trying to be its own independent chain eventually or is going to remain a Sidechain / Commitchain Layer 2 to these other bigger chains like BSC and ERC20?

[@hjphan1030]

The best blockchain tech channel on KZbin. Nobody dives this deep into the fundamentals.

[@Finematics]

thanks!

[@chopragaurav1]

Only 7k views in 24 hours!? 🤔 This is probably one of the most important videos in crypto domain. Explaining complex topics is not easy. Thanks 🚀

[@UserHuge]

Did it explain important concerns like wether the sidechain's progress won't get stuck or which tokens can go through the mentioned bridges? Nope.

[@crackedtvgaming]

Was waiting for this after my Poly bag exploded yesterday!

[@piechun7663]

Totally agree with you, Finematics. Defi is our future and top in 2021 is really strong. But i think you should take a look at some other project. I know one about Defi with KDG token. It is really potential project but less people know about it. Can u review?

[@alonzodelavega2759]

May I have information please?

[@nalykim3964]

interesting

[@jastallion45]

"Another one, we the best" DJ Khaled voice.. Great job again.

[@errgo2713]

This is a reasonable distinction between side and commit chains. Also thanks for introducing me to Polygon the first time round. I bought in then and it's now doubled in value ;-)

[@lherfel]

my prediction is polygon 40 billion MC, it is doing now what ADA and DOT at 40 Billion MCs promise to do

[@MnMEminem]

@@lherfel you forgot you are in a market where doge coin is in top 5

[@NhanTran-ks1cd]

I've invested in Polygon. This is one of the smartest investments in my life.

[@NhanTran-ks1cd]

@Fînematìcs I've blocked you, scammer

[@zacs8654]

Thanks for the good clarification Finematics, Polygon Matic seem to be doing everything possible to scale Ethereum....kudos

[@ItsSkyGuy]

Great video on The Matic Network (Polygon) love the content!!

[@pablowasserman]

Just started using polygon recently, thank you as always :)

[@quesomoto1575]

I enjoyed the nitty gritty details in this one. Thanks as always.

[@DocBlockchain]

Great content! Many thanks!

[@jesseglass1257]

You always do such an amazing job. There was so much info that I'm gonna have to watch this one twice!

[@Finematics]

thank you! :)

[@TheMinionaire]

QuickSwap in Polygon just changed DEFI for me, so good and cheap!

[@crypt0keep3r77]

Hey great job on the content. I binged all of your videos last night and I really appreciate the way you explain these nuanced fundamentals in an easy to understand way. I left a comment on your "truth about DeFi" video about maybe getting an explanation of web 3.0, the practical application of a decentralized web and the key players working on this project . Thank you and keep up the great work!

[@RaidenFrancois]

Wow thanks for this! Alot of effort in making this. Appreciate it🙏

[@Finematics]

You're welcome! Thanks :)

[@TheSpacemanSpliff]

Once you use Polygon, you can easily see why it’s going parabolic now with an insane number of transactions and project integrations every hour. It’s definitely something the Ethereum space needs, and it’s just starting to gather real traction. This will be a snowball effect, and once it starts going it won’t be stopping any time soon. Buy in during the correction dip after the recent pump and hodl the hell out of it.

[@chillwithme9520]

I was wondering when we do a transaction, how when to choose Layer 1 or Layer 2 though.

[@aaryo5000]

You make incredible content - hats off to you, sir!

[@Finematics]

thanks!!

[@GunHolsters]

You’re a very good crypto teacher, my Dude. Keep on explaining and I’ll continue to learn.

[@Finematics]

thanks! :)

[@jplamour3873]

how did i even crypto before u...... ur videos answer questions i didn't even know i had. you are much appreciated.

[@Finematics]

thanks!

[@Anas-gi9tn]

Just at the time when i was looking about this, Thanks for the good work!! Your videos are really helpful

[@Finematics]

thanks!

[@Jessica-qw9op]

This is a great and excellent project and also the reward is great. Thanks for shared this wonderful opportunity.

[@binayakkc8869]

Very helpful, thank you 🙏

[@SgtHodl]

Well done video

[@lherfel]

Really Awesome video, thanks for doing this one particularly. I have been trying to piece all that together myself, great great explanation : )

[@Finematics]

You're welcome. Thanks for watching :)

[@timo9206]

Great like always

[@Finematics]

Thanks again!

[@nufractal2955]

Unrivaled Crypto content. Incredible!

[@pcl5636]

amazing content as usual!

[@Finematics]

thanks!

[@thebrainery89]

Finematics - your videos are so well researched and put together. I become at least 10% smarter after every video you release. 🙌

[@Finematics]

thanks! :)

[@Guitareben]

Polygon is the future.

[@Mrbeastifed]

I would love to see a video on ZKsync

[@guknj]

Hi! Can you post a Harmony One video please? I like your videos so much. Thanks!

[@lherfel]

thanks again : )

[@Leoninhk]

Love the content, please make a video about the new solana smart contracts in rust/spl

[@firstcondoras]

Great like always. Thanks again. Just a question what your software for this outstanding video?

[@whiteburr]

Definitely going to have to read this one again later x_x

[@Maddy-kb2co]

Amazing

[@Finematics]

thanks!

[@SilverWX]

Excellent, thank you so much for your great work :) Could you explain the polkadot and avalanche shared security too ? 😊

[@don.mccracken]

Great video! I would appreciate if you could comment on what potential security risks there are after you have transfered crypto from the Ethereum network to Matic. For example, could the bridge smart contract be hacked? Could there be backdoors or collusion from validators? In short, what are the real risks when moving assets to Matic/Polygon?

[@jahpreacherman]

You are the game Changer ....

[@Finematics]

thanks! :)

[@jahpreacherman]

@@Finematics I'm not referring to you alone but with PolygonMatic.

[@alzheimerdinger1455]

This is a channel for the nerdiest of nerds! I hope to become one.

[@Finematics]

🤓

[@jameschoi5318]

How do you get such consistent and clean drawings? Nice Work 👍

[@UserHuge]

Where can I read more on the PoS bridge? What set of tokens/assets it supports?

[@addict2cigs]

Great video! Maybe can you do a video on CVP Powerpool? Thanks!

[@dominikhell6118]

Maybe you can answer this question for me: what happens to the collected gas on the PoS chain. Is that burned or used again to pay out validators?

[@srmangueras]

Neo N3 video would be great

[@bradjipark]

Got a little lost I have to admit once you started talking about tendermint and round robin.

[@ChillCash]

I think I'll pass on watching this based off this comment lol

[@micalubeka2871]

FRM is one of best DeFi out there, they also best blockchain solutions that helps other blockchain in meaning ways

[@onmissiontohappiness]

not only defi but also nft project right now

[@micalubeka2871]

@@onmissiontohappiness yea, they just recently added it. and there's 2 artist already using the service from ferrum

[@onmissiontohappiness]

@@micalubeka2871 judging from the start, the future looks bright i think

[@micalubeka2871]

@@onmissiontohappiness well the project always been bright since the start

[@onmissiontohappiness]

@@micalubeka2871 I mean the nft division, but yeah i agree to that too

[@vanialipchin4648]

Oh wow, ur videos are remarkable! But could you give your view on NFT TONE? Are they rly so cool??

[@4043madhav]

Can you please make a video on DeFi on Avalanche (AVAX)?

[@ChillCash]

Hey man, I am wondering what you think about SKALE and if you are interested in doing a video on it?

[@f0ny]

What service do you use for the hand drawn animations? Cheers for the great videos! :D

[@joshualee6559]

I'm pretty sure these are not hand drawn. Yeah I wonder what software he is using.

[@Shivtan]

Your explanation are amazing , i found your channel few days ago and I am watching your all videos Thanks for such amazing details video Please make a explanation video on " "Solana Ecosystem" & it's solana token And please upload regular video we need more videos from you @Finematics Please

[@xcloud7489]

Can you do a comparison between SKL and MATIC when you have a chance in the future?

[@SVPHAM]

Thanks for the nice video. I still don't understand if we can avoid expensive ETH gas fee for MATIC transaction?

[@Finematics]

Yes, you'll have to still pay ETH gas fee to transfer coins into the PoS Chain but hopefully exchanges will enable direct withdrawals to Polygon soon

[@virtualunit]

Polygon is the best Chain! Good protocols and super low fees!

[@mattgene]

This is so hard to understand...but one thing I know for sure is that Polygon is trustworthy!

[@Sharriette]

What is the name of the whiteboard you are using?

[@mayankraj6044]

Can someone please elaborate on what is the use case for Matic token in the entire process? Could staking ETH not have worked for the platform?

[@Nitroshot99]

Can you make a video about avalanche consensus?

[@jimphillips2004]

How many matic does it require to be a node validator?

[@rza7290]

Can u do a video comparing OMG-MATIC for plasma layer 2 solutions? And which one do u think will have a real usecase ? Omg has been pumping recently, why ?

[@user-yo7tw3ye9o]

Some fun will make it better, inst it? As well as, Wat do ya think about Dumeno? Found an information about their platform with interesting incomes and I think it’s worth making a review. When is the best time to join?

[@abbydoodle484]

Hey, why recently so many people talk about KDG. Can u review some?

[@guilhermeamaral5897]

Que insight. Olha a data

[@winnerintraining8534]

Video on XTK for uni v3?

[@vanialipchin4648]

I wanna your prediction one more time , buddy. Found an article about Cannumo cbd decentralized project. As I got it, tHello aim for selling the CANU coin s. Should I Take part them?

[@perix7536]

Thank you very much 4 all the great Videos . I do not understand all, but some 😉 and more. Today i found Something about Dracula protokol Could you please Tell Something about that? What are they Doing?

[@chilaxin09]

Possibly a silly question but do layer 2 solutions still have a purpose after EIP-1599 and ETH 2.0?

[@Finematics]

Yes, Eth2 will magnify the throughput of most scalability solutions

[@adityaojha5776]

What is the need of side chains? What are these layers?

[@allanjunli]

Do a video on chainlink 2.0 hyper smart contract please.

[@Finematics]

Will do in the future! :)

[@samirrimas]

proof of autohority is basically centralized

[@titantitanov997]

I will subscribe, man Could you share w/ me yao opinion about The Cannumo? woe do you think??

[@Wuuzzaaful]

Can you do Video how defichain works?

[@Mjn91]

still just a sidechain but with many added features

[@daryltang17]

How does Polygon remains fast and scalable when it keeps having to interact is with $ETH?

[@WORLDOUTOFEARTH]

Please Make more video on PIT ( Pitbull) as its a community driven Pitbull is a self-staking token abandoned by its creator, raised by the community

[@SilverWX]

The problem is that binance own 36% of staking power and Matic is BFT tolerant, I don't know how the commit to main chain and the extra safety measure can mitigate this problem

[@slonfogel9697]

Pls, shoot a vid about KAWA! It is especially interesting to discover how they are still such a low cap. I hadn’t never heard of them before but the name keeps popping up on youtube and telegram!

[@sgtjocobing]

Explain Pi Network as well! Please

[@Rokvtm]

Good job , I understood mostly nothing.

[@agoetz21]

What about sundae swap will it me the next best?

[@meadeclaro2601]

I think defi and nft games bring too much profit, This is the right choice, i saw it base on project KDG

[@abeidiot]

It is still a less optimal solution than rollups. Which is why Polygon has focused all it's research on rollups now. Rollups also don't need another token so I wonder what they plan for matic. It's entirely possible there are some cases where rollups will not be optimal

[@thisiscliche2146]

if anyone can be a validator, and human error is the most common error, won't human errors within the validation become the greatest source of overall errors in the transactions? how is this avoidable?

[@8000Brutto]

[@DocBlockchain]

Polygons Heimdall Chain is using mythology naming like Thorchain Rune, coincidence?

[@yusufpintar]

i dont know what im talking about, but please do video about DEFI in cardano

[@Finematics]

there is no DeFi on Cardano at the moment as far as I know unless somehow DeFi can be built without smart contracts

[@KiloWhiskay]

Doesn't ETH finality require ETH gas? Where does that money come from?

[@olibaron]

Polygon is a sidechain as consensus differs from mainnet.

[@rowanhorton4906]

I lost a lot, thanks to NFT and Defi can help me, a lot of profit from it, Hope KDG can help me !!

[@Mark-to4vy]

Sounds smart, but I did not get it fully. :-)

[@dx9235]

tbh I think it is layer-2 then

[@papimocha2152]

I used to participate in cryptocurrency but loss, but NFT vs DEfi brought a lot of profit, i'll participate it i chose KDG is best

[@HattTrickTik]

Can you make a short video about WebDollar . io ?

[@Hoonnam81]

God please make me understand this chapter

[@javierfernandez7472]

What will happen with this sidechains when Ethereum 2.0 comes out? Will they be useful

[@Finematics]

Yes, all scaling solutions will be still useful when Eth2 is out! They will magnify the effects of scaling provided by sharding.

[@javierfernandez7472]

@@Finematics Thanks for answering. Great videos ;)

[@_DaddyBitcoin]

Eth 2.0 will only increase to 4,000 tps, which is nothing for mass adoption. Matic is here to stay! Most likely all 300B of etherium will be moved to Matic!

[@EgorHomakov]

you didnt explain how checkpointing helps