Ethereum’s popularity comes with high transaction costs, but Polygon is building on Ethereum to increase transaction speed and reduce costs.
To do this, Unstoppable Domains transfers its domains to Polygon. As of today, blockchain domain company Unstoppable Domains will not be charging its customers for fuel for mining NFT domains and has even completed the first phase of its migration to Polygon, a scaling solution, according to the announcement.
The company used the original Zilliqa blockchain before switching to Ethereum and now Polygon, an eco-friendly blockchain that Ethereum can scale. Gas on Ethereum refers to the variable cost of some type of transaction on the network and can even get very expensive. The fuel fee for minting a single domain through ETH is up to $ 100 and although ETH is currently doing a network upgrade to reduce these fees, it is unclear when the upgrade will be completed and this could explain why the platform is just changing to polygon.
Unlike other NFTs related to the visual arts, such as gifs, pictures, or short videos, an NFT domain is a network domain that exists on the blockchain and these tokens can also be used to take ownership of other types of to represent digital goods. Domains serve the dual purpose of providing short wallet addresses, similar to the Ethereum name service with .eth domains. Unstoppable Domains claims that over 1.5 million domains have been set up since 2018 and now the company allows users to purchase domains ending with .crypto, .nft, .dao, etc. Now, if domains don’t prevent migration to Polygon, the company will provide support with domain management and porting solutions from older domains to Ethereum and Zilliqa.
All users can set up domains on Polygon with their crypto addresses and other features like NFT galleries and social media links by the end of the month. So if a user wants to transfer their domain to Ethereum, they can do so in early 2022, but there will be higher gas fees.