OVR, polygon announced that the first phase of the transition to its network has been successfully completed. Transition procedures began in the first days of January. The second phase is expected to take place in February.
The company also has Merkle Proof and Minting functions. Ethereum announced that it was transferred from the network to the Polygon network, so that NFTs will now be created at much lower fees.
Moreover, OVR stated in its statement that Polygon network payments have been added to the Ethereum and BSC network payments already in the project market. According to the company, this step will greatly reduce transaction fees, resulting in greater scalability potential for OVR.
So Why Did the OVR Project Choose Polygon?
Although Ethereum continues to lead the way in smart contracts, no one can deny that this platform is overloaded. Excessive demand on the network combined with the inability to properly scale the growth of the network results in very high transaction fees. Transaction fees on the Ethereum network are known to be the highest in the market.
Originally developed on the Ethereum network, OVR stated that it had to switch to the Polygon network, showing these problems. According to the company, this step NFT It will also contribute to the growth of the project by making it pay lower transaction fees in creation and transfer.
The project said on its website: “The field of blockchain scalability is huge and growing rapidly. Choosing one scalability solution over others isn’t easy, but it’s a multidimensional problem with a lot of variables.”
The altcoin project is now offering OVR tokens with the latest developments. Uniswap Announced that it can be swapped in the Polygon app on V3. At the time of this writing, transaction fees on the Polygon network are around $0.01, while on the Ethereum network they are around $6.