Those relatively new to the crypto world may be wondering: what are the differences between the Polygon and Ethereum networks? Which should I choose to mint my NFT on? Well, each blockchain has its pros and cons, so it really depends on what you’re looking for as a seller and consumer.
If you’ve already chosen an NFT platform, such as OpenSea, you’re going to need to check if they offer minting on the Polygon blockchain as an option. It’s supported on OpenSea as of now, but isn’t available on sites such as Rarible. Ethereum, on the other hand, is supported by all major platforms that mint NFTs, given that it’s the current industry leader for smart contracts.
If you do decide to use Ethereum, the gas fees and transaction times tend to be higher than those of Polygon, due to higher rates of network congestion. Some work is being done in terms of Ethereum’s scalability, but as of now its Proof-of-Work mechanism is a bit limiting. Polygon is gaining traction in the industry because of its quick and relatively inexpensive gas fees and ability to act as a second layer to Ethereum.
If environmental impact is a factor you’d like to take into account, Polygon is known for being significantly less demanding in terms of energy use due to its Proof-of-Stake algorithm. The two largest blockchains that use Proof-of-Stake, Ethereum and Bitcoin, consume more energy per year than the entire country of Sweden. Polygon is an effective scaling solution to decrease said energy consumption and still provide quick and secure transactions.
To summarize, if you’re looking to put your NFTs on a platform other than OpenSea and don’t mind pricier gas fees, Ethereum is the way to go. If you’re looking for lower transaction costs and a lessened environment impact, Polygon can be effective at the cost of marketability. Either way, it doesn’t make too much of a difference which platform you decide on: they’re both solid options!