Figure 9.1: Polygon Basic Architecture

Polygon works on the Proof of Stake consensus, where validators

invest their stakes to validate different transactions on the side

chains. When it comes to the MATIC tokens, the users have to lock

their funds on the parent Ethereum network on smart contracts and

then they can be minted in MATIC in the Polygon network. In order

to redeem the tokens, first they have to be burnt on the Polygon, and

the proof has to be sent to the Ethereum layer from where they can

be refunded again.

9.2 Transaction fees

The transaction fees in Polygon can be pretty low because of the

involvement of side chains. Currently, it’s about $0.0001, which is

one of the lowest in the entire Blockchain market.