MetaMask — Popular Cryptocurrency Wallet

MetaMask is one of the most popular cryptocurrency wallets on the market, providing users with secure storage, management, and interaction with Ethereum cryptocurrencies and other compatible assets. This wallet is available as an extension for popular browsers, including Google Chrome, Firefox, and others. A key feature of MetaMask is its ability to interact with various blockchain networks, such as Ethereum, major smart chain platforms, and many others.

Recently, the Polygon network has gained particular popularity due to its low transaction fees, high processing speed, and broad compatibility with other blockchains. In this guide, we will thoroughly examine the process of adding Polygon to MetaMask and discuss the benefits of such integration, with particular focus on understanding the Polygon Chain ID.

Understanding the Polygon Network

The Polygon network, formerly known as Matic Network, is a Layer 2 scaling solution for the Ethereum network. This platform serves as a foundation for creating and connecting blockchain networks compatible with the Ethereum ecosystem. The main goal of the Polygon network is to provide fast and economical transactions while maintaining full compatibility with the main Ethereum network.

Polygon's architecture allows developers to create scalable decentralized applications, overcoming the limitations of the main Ethereum network in terms of throughput and transaction costs. This makes Polygon an attractive platform for a wide range of blockchain projects, from DeFi applications to NFT marketplaces.

Advantages of Polygon

One of the main advantages of the Polygon network is the significant reduction in transaction confirmation time and minimal fees. The network achieves these indicators through the use of the Proof of Stake (PoS) consensus algorithm, which substantially reduces the computational power costs required for transaction confirmation. As a result, operations are processed faster and cheaper compared to the main Ethereum network, making the platform more accessible to a wide range of users.

Another important advantage is Polygon's high degree of compatibility with various blockchain ecosystems. The network supports the Ethereum Virtual Machine (EVM), which ensures full compatibility with decentralized applications and smart contracts developed for Ethereum. Moreover, Polygon is compatible with other major blockchain networks, which significantly simplifies the process of moving assets between different blockchains and expands opportunities for users in the field of cross-chain interaction.

The Polygon network differs from other scaling solutions with its unique approach. Unlike sidechains, where users need to transfer their assets to a separate network, Polygon allows storing assets on the main Ethereum network while simultaneously benefiting from faster and cheaper transactions. Additionally, Polygon is not just a separate network, but an entire infrastructure allowing the creation of multiple interconnected blockchains for specific tasks, such as gaming or DeFi, while maintaining compatibility with each other.

Step-by-Step Guide to Adding Polygon to MetaMask

To integrate Polygon into MetaMask, you must first install the MetaMask browser extension. The process begins with visiting the official MetaMask website and downloading the extension for your preferred browser. After installation, you need to create a new wallet or import an existing one using a mnemonic phrase or private key.

The MetaMask interface is intuitive and includes several key elements: balance display, network selection, buttons for sending and buying cryptocurrency, activity history, and settings menu. After familiarizing yourself with the interface, you can proceed to add the Polygon network.

To add the Polygon network, you need to open the network dropdown menu at the top of the MetaMask interface and select the option to add a new network. In the dialog box that appears, you should specify the Polygon network parameters: network name (Polygon Mainnet), RPC URL, Polygon Chain ID (137), and currency ticker (MATIC). After confirming this data, the Polygon network will be successfully added to your MetaMask wallet. The Polygon Chain ID of 137 is a unique identifier that ensures you're connecting to the correct network.

To add specific Polygon tokens, you need to use the import tokens function in MetaMask. This will require the token contract address, which can be found in the Polygon blockchain explorer, as well as the ticker and decimal value of the token. After entering this information, the token will be added to your wallet, and you can manage these assets through the MetaMask interface.

Overview of Polygon Network Capabilities and Benefits

The Polygon network offers a wide range of capabilities and benefits for users and developers. First, fast and cheap transactions make the platform ideal for everyday use and mass adoption of blockchain technologies. The Proof of Stake consensus algorithm significantly reduces computational power costs, which directly impacts user fees.

Second, compatibility with the Ethereum Virtual Machine provides access to the extensive ecosystem of Ethereum decentralized applications and smart contracts. This means that developers can easily port their projects from Ethereum to Polygon without needing to rewrite code. Additionally, compatibility with other networks expands opportunities for cross-chain interaction.

Third, the scalability of the Polygon network as a Layer 2 solution provides an additional level of security and performance for the Ethereum network. The customizable architecture allows creating specialized networks for specific applications, whether gaming, DeFi, or NFTs, while maintaining interaction between different networks.

Security is another key advantage of Polygon. The decentralized architecture of the network provides reliable protection of user funds and transactions, using proven cryptographic mechanisms and consensus algorithms. The unique Polygon Chain ID ensures proper network identification and security.

Polygon Capabilities

The Polygon network opens numerous opportunities for various blockchain technology applications. In the field of decentralized finance (DeFi), Polygon provides a fast and economical alternative to Ethereum, making it an attractive platform for developing lending protocols, decentralized exchanges, and crypto-farming platforms. Low fees allow users to actively participate in the DeFi ecosystem without significant costs.

In the field of non-fungible tokens (NFTs), Polygon offers an affordable way to create and trade digital assets. Artists and collectors can create and sell digital art with minimal gas costs, making NFTs more accessible to a wider audience.

The gaming industry also actively uses Polygon's capabilities to create blockchain games and in-game economies. Fast transactions and low fees are ideal for gaming applications that require numerous microtransactions. On the Polygon platform, various types of games can be created, from collectible card games to complex role-playing games with developed economies.

Polygon's cross-chain compatibility allows easy transfer of assets between different blockchains, which is especially important in the context of growing blockchain ecosystem fragmentation. This makes the platform convenient for users who want to maximize the efficiency of their assets across various networks.

Tips for Using Polygon with MetaMask

When working with the Polygon network through MetaMask, it's important to observe certain precautions and follow best practices. First and foremost, always carefully verify the selected network before sending transactions. Make sure that Polygon Mainnet is selected in MetaMask by checking the network name and its Polygon Chain ID to avoid sending funds to the wrong network.

Although fees on the Polygon network are significantly lower than on Ethereum, they can vary depending on network load. It's recommended to regularly monitor current gas prices and adjust transaction fees accordingly. This will help avoid overpaying or excessively long transaction confirmation waits.

When interacting with the Polygon network, it's extremely important to use only verified and reliable wallets and applications. Always verify the authenticity of dApps and smart contracts before interacting with them to minimize security risks. Regularly update the MetaMask extension to the latest version to receive new security features and vulnerability fixes. Always confirm that the Polygon Chain ID matches 137 when adding or switching networks.

Conclusion

Integrating the Polygon network with the MetaMask wallet represents an important step for users striving to effectively leverage the advantages of blockchain technology. Polygon offers an optimal combination of speed, low fees, and broad compatibility, making it an attractive platform for various applications, from DeFi to NFTs and gaming.

The process of adding Polygon to MetaMask is simple and straightforward, requiring only a few steps for configuration, including entering the correct Polygon Chain ID. After successful integration, users gain access to the extensive ecosystem of Polygon applications and services while maintaining the familiar and convenient MetaMask interface.

It's important to remember the need to observe security measures when working with cryptocurrencies and always use verified sources of information and applications. The Polygon network continues to develop and expand its capabilities, offering users increasingly sophisticated tools for interacting with blockchain technology. Proper use of these tools, including correct configuration of the Polygon Chain ID, opens wide prospects for participation in the decentralized economy of the future.

FAQ

What is the chain ID for Polygon?

The chain ID for Polygon is 137. This unique identifier is essential for configuring wallets and interacting with the Polygon network.

How do I find my chain ID?

Visit ChainList (chainlist.org) to find your chain ID. It provides Network Name, Chain ID, RPC URL, and native token symbol for various blockchain networks.

What is chain ID 31337?

Chain ID 31337 is the default identifier for Hardhat Network, a local blockchain used for Ethereum development and testing.

How to add Polygon chain to MetaMask?

Open MetaMask, click 'Add Network', search for Polygon, select Polygon Mainnet (Chain ID 137), and click 'Add'. Ensure you have MATIC for transactions.