OpenSea now offers cross-blockchain support across Ethereum, Polygon and Klatyn. This guide briefly explains the differences between these various blockchains.
Ethereum
Official Website: ethereum.org
Token: ETH
Ethereum is a decentralized, open-source blockchain with smart contract functionality launched in 2015. Ether or ETH is the native cryptocurrency of the Ethereum blockchain.
ETH is used to pay transaction fees (known as gas fees) on the Ethereum blockchain. OpenSea has no say in setting gas fees – they are determined by supply/demand and fluctuate according to network usage.
Polygon
Official Website: polygon.technology
Token: MATIC
Polygon (previously known as the Matic Network) is a separate blockchain that provides scalable, secure and instant transactions with Ethereum currencies like ETH, USDC and DAI.
As one of the first scaling solutions for Ethereum, cryptocurrencies must be “bridged” from Ethereum’s blockchain to Polygon. Think of Polygon as a sibling to Ethereum, the currencies are similar, but the two blockchains have slight differences.
Beginning in July 2021, users can use Polygon to create, buy and sell NFTs without paying transaction fees, essentially creating a gas-free marketplace.
Klatyn
Official Website: www.klaytn.com
Token: KLAY
Klaytn, is a blockchain developed by Korean internet company, Kakao. Users can use the Kaikas wallet browser extension to buy and sell Klaytn NFTs on OpenSea.
