What are the reasons why Polygon is considered to be a bad choice for cryptocurrency transactions?

3 answers

• Dec 16, 2021 · 3 years ago
  One of the main reasons why Polygon is considered a bad choice for cryptocurrency transactions is its scalability issues. As the number of transactions on the network increases, the network becomes congested, leading to slower transaction times and higher fees. This can be frustrating for users who require fast and cost-effective transactions. Additionally, Polygon's security has been a concern for some users, as there have been instances of hacks and vulnerabilities in the past. It's important for users to carefully consider these factors before choosing Polygon for their cryptocurrency transactions.
  608304
• Dec 16, 2021 · 3 years ago
  Polygon's reputation as a bad choice for cryptocurrency transactions stems from its lack of decentralization. The network relies on a limited number of validators, which raises concerns about centralization and potential manipulation. This goes against the principles of decentralization that many cryptocurrency enthusiasts value. Furthermore, Polygon's governance model has been criticized for being controlled by a small group of stakeholders, which further undermines its decentralization. These factors contribute to the perception that Polygon is not a trustworthy option for cryptocurrency transactions.
  610204
• Dec 16, 2021 · 3 years ago
  While some may argue that Polygon is a good choice for cryptocurrency transactions due to its low fees and fast transaction times, it's important to consider the potential risks involved. Polygon is a relatively new network, and its security track record is not as established as other well-known blockchains. Users should be cautious when conducting large transactions or storing significant amounts of cryptocurrency on the Polygon network. It's always recommended to do thorough research and consider alternative options before making a decision.
  549138