AMA session Recap between Mogul Productions and Polygon Network

The Mogul Production known to be a decentralized film financing platform after making its partnership with the world’s best leading Layer 2 Network — Polygon Network, had its AMA session in order to enlighten community members on how Polygon got started, the problems it set out to solve and our common interest in a faster user experience bringing forward the mass adoption of blockchain solutions.

On the 23rd of March, 2021, Arjun Kalsy, Vice President at Polygon Network was hosted by Mogul Productions, few questions were asked and the conversation was thus:

SEGMENT A

Moderator|Mogul Productions: Hi Arjun — Thank you very much for joining us today to talk us through the advantages Polygon will bring to Mogul’s platform. Are you having a busy time over at Polygon at the moment?

Arjun|Polygon Network: Totally man, things are exploding right now and we are seeing a lot of adoption. check out our blockexplorer: https://explorer.matic.network/

Moderator|Mogul Productions: Exciting times for sure! We’ve 10 questions lined up for you and if we are left with a bit of time in the end, perhaps we can invite viewers to ask a few more? So, we know Polygon has been very warmly received in the blockchain space and is ranked Top 100 on the CoinMarketCap website. But, readers here may be relatively new to blockchain, those coming from the film industry, in particular, so let’s rewind a bit, and give people a little more of the background.

Q1.

Moderator|Mogul Productions: In launching Matic/ Polygon in 2019 what was the main problem you set out to solve?

Arjun|Polygon Network: the main problem we were trying to solve is to keep all the different scaling solutions under the same roof, after creating our first scaling soluton — our hybrid plasma pos solution. we realized that the future of scaling is going to be multichain, there will not be a single scaling solution which will solve all the problems, there will be multiple scaling solutions. so we wanted to create infra in which all the different solutions which the developer requires are available in one place, namely:
our tried and tested POS Plasma solution,Optimistic rollup chains, ZK Rollup chains, Ability to spawn your own chain and also tooling to solve for interchain communication etc.we are currently placed to launch the Polygon SDK in 4–5 weeks and now advisors like John Lilic, Anthony Sassano, Ryan Sean Adams and many others have joined us to help build the future of scaling

Q2.

Moderator|Mogul Productions: For those new to blockchain — what created the need for a scaling solution to start with?

Arjun|Polygon Network: the conversation started in 2017, when one game based on cats, Cryptokitties became so popular, that it clogged the entire ethereum network. it suddenly became apparent that ethereum suffers from scalability issues and if no solution was found, the whole blockchain ecosystem would not amount to much. several approaches were discussed — this period also gave rise the first ‘Ethereum Killers’ — blockchains which were advertised to be more scalable etc. then Vitalik proposed the Plasma technique, which was to use another chain parallel to the ethereum chain to offload transactions. This other chain would periodically checkpoint transactions to the ethereum chain to ensure security, fast forward to today — there are many differnt approaches to scaling.

Q3.

Moderator|Mogul Productions: so congestion on the Ethereum blockchain first came to light with some very popular kitten NFTs! And scaling things up to better cope with transactions has been on everyone’s minds since? What gave your team confidence that your solution would be in-demand?

Arjun|Polygon Network: The confidence came from researching Plasma throughly and then testing over a period of three years. We first came up with the architecture in 2017, but our mainnet went live in March of 2020, we did 3 years of near constant testing and refinement and only then came out with our technology publicly

Q4.

Moderator|Mogul Productions: How does Polygon’s protocol and framework work in relation to Ethereum when solving these problems?

Arjun|Polygon Network: w.r.t to Ethereum, our chain behaves like a commit chain, every 256 blocks, we commit transactions to the ethereum mainchain — to ensure that all assets are secured by ethereum’s security. Furthermore, we use the same execution environment and the token standards as Ethereum — ERC type, we don’t have a custom token standard or something like that, this is how we are different from a side chain — where you are trusting the side chain operator this is how we are different from a side chain — where you are trusting the side chain operator. so we see ourselves as a natural extension of ethereum — like a performance layer ontop of a well researched, robust and diverse ecosystem like Ethereum. so, the TLDR would be :-
Our chain has 88 validators and has about $600M staked on it — so all transactions are highly secure

But to have security on par with Ethereum — we periodically commit transactions to the Ethereum chain to ensure all the NFT, Liquidity and transactions are provable on Ethereum.

Q5.

Moderator|Mogul Productions: What aspects of Polygon do you think will most help Mogul if we are prioritising saving our users time, money or inconvenience?

Arjun|Polygon Network: I feel the advantages are mainly:
1 — Super low costs for users and the Mogul community — minting NFT’s and doing fun stuff should not cost >$100. Polygon Avg. txn. cost is $0.00004 ; basically in $10 you can do close to 2 million txns

2- Super fast transactions — UX on par with using Netflix or Uber — a true web2.0 experience

3 — EVM compatible and ERC style assets — less complexity for the developers and the users — no token changes or other complexities to track

4 — Composability in the Polygon ecosystem — There is so much DeFi, Gaming and other NFT projects in the Polygon ecosystem, that the Mogul users will also have a lot more avenues to have fun on Polygon

5 — We will provide Mogul tech support.

With the help of awesome ecosystems and partners like Mogul is how we are going to be amongst the top 5 chains in the world !

Q6.

Moderator|Mogul Productions: How does Polygon enable Mogul to offer near instant transactions?

Arjun|Polygon Network: We use a combination of a POS network along with Plasma technology to bring scalability. The article covers everything nicely: https://docs.matic.network/docs/home/architecture/matic-architecture

Q7.

Moderator|Mogul Productions: How does Polygon enable end users to enjoy these benefits whilst still keeping 100% control over their digital assets?

Arjun|Polygon Network: The advantage with polygon is:
1 — Decentralised network — 88 validators as of today — we will scale to 100 soon
Our validators are present all over the world and this level of decentralisation makes our network highly secure and censorship resistant. This is different from many other side chains, which are EVM compatible, but have are centralised and run their own validators

2 — Checkpointing to Ethereum — Not only do you own your assets — you can easily move your assets from Ethereum to Polygon and vice versa. This gives you full control on your assets to send liquidity to Polygon or vice versa, for example — you can use wallet.matic.network

We have created the underlying contracts — so developers can create their own interfaces for ERC20 tokens or NFT’s etc.

Q8.

Moderator|Mogul Productions: So, Matic recently rebranded to Polygon, and in doing so, it seems your team is connecting all Ethereum layer-2 solutions. Can you tell us more about that and how that can benefit a project like Mogul, who originally partnered with your team to use the Matic plasma chain?

Arjun|Polygon Network: In Q4 of this year, is when the first version of the optimistic rollups and Zk rollup implementations will come out, we will also build tooling for interchain communication. This means that even if you are deployed on the POS-Plasma chain today — you can build your future products on other chains and still be able to communicate across and operate, this gives teams more flexibility — and you use the same underlying token across these chains — $MATIC Token.

Q9.

Moderator|Mogul Productions: Do you have any other tips for Mogul on making things as user-friendly as possible?

Arjun|Polygon Network: There are a few tips:
1 — use meta-transactions ; this makes the UX better for the user
2 — video/content to help users understand how to navigate the mogul ecosystem

Q10.

Moderator|Mogul Productions: Mogul is a truly global project and we’re proud to work with partners and have community members from all over the world. The Polygon team is primarily based in India. Can you tell us how the cryptocurrency and blockchain industries have developed and grown in India since 2019?

Arjun|Polygon Network: There has been a lot of growth of the blockchain ecosystem in india. The mobile data rates in India are amongst the cheapest in the world, and that means that students across the country have access to youtube and other tutorials to help them understand and assimilate web3 technology

About Mogul Productions

Mogul is a decentralized film financing platform that brings
creators, fans, and film financiers together; allowing everyone to play a part in the next big blockbuster.

For More Information about Mogul Productions:
Website: https://www.mogulproductions.com/
Telegram Group: https://t.me/mogulproductions
Twitter: https://twitter.com/we_are_mogul
Reddit: https://www.reddit.com/r/mogulproductions/
Medium: https://medium.com/mogulproductions

About Polygon Network

Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Polygon combines the best of Ethereum and sovereign blockchains into an attractive feature set. Built by developers, for developers.

For More Information about Polygon Network:
Website: https://polygon.technology/
Telegram Group: https://t.me/maticnetwork
Twitter: https://twitter.com/0xPolygon
Reddit: https://www.reddit.com/r/maticnetwork/