Decentraland announces layer-2 solution, promising reduced gas fees. So far, the full implementation is set to be completed in May
Last few months, the popularity of Decentraland has grown at a very fast pace.
When you want to trade a plot of LAND, wearables, or register a unique name on Decentraland, you have to pay some gas fees for the transaction on the Ethereum network. As the ETH network gets more and more congested, traders often overbid those gas prices to have their transactions included in the ledger as fast as possible. The more with high gas fees is it makes it impossible for play to play the games on the Ethereum network as they are intended to be.
For example, if you want to play CryptoKitties, you will have to pay $100 in gas fees, on top of the breeding fee. And in the end, it doesn’t make much sense to pay hundreds of dollars to breed a kitten that might be worth only $10.
Well, it’s the same for Decentraland, basically, there are wearables that you can clam for free in the game, but with current gas fees, you still have to pay somewhere around $50-100 to interact with the ETH layer.
But the Matic network layer aims to change this.
I had an issue while initiating a transfer, but managed to find some help over at the Decentraland discord. If you have issues with the game, or with new features, you can head to discord in the Help channel, and you will find some kind-hearted soul that will gladly help you !
As of today, the Decentraland dApps suite now features an account portal where you can move your MANA from the Ethereum blockchain to Polygon’s Matic Network (and back)
You can now move your MANA from the main Ethereum network to Matic’s 2nd layer, it still cost some gas fees whenever you are on interacting with the Ethereum network, but as long as you use your MANA on the Matic network, the gas fees will be very low. But be careful, if you try to withdraw back to the Ethereum layer, you will be hit with a contract interaction fee, and you will have to complete this withdrawal if you don’t want your transaction to drop. Once you have started your withdrawal to the ETH layer, there is no way to cancel this transaction.
If you want to interact with the Ethereum layer, i suggest waiting for a moment when gas fees are at the lowest. This is usually on Sundays.
Here is the announcement that they put out yesterday
Today marks the completion of an important first step on the path toward a full layer-2 solution for payments and transactions in Decentraland.
Layer 2 solutions, or L2 for short, are often tossed around in the Ethereum community when debating how best to make dApps more scalable and affordable. In a very small nutshell, a layer 2 solution includes a blockchain separate from, yet still linked to, a mainchain (like Ethereum). A dApp (or decentralized app) using an L2 solution allows users to transfer tokens and assets from the mainchain to the secondary chain – where they can then conduct transactions at significantly faster transaction times with low to non-existent fees.
As of today, the Decentraland dApps suite now features an account portal where you can move your MANA from the Ethereum blockchain to Polygon’s Matic Network (and back).
This is part of a larger effort to integrate all Decentraland dApps with Polygon (previously Matic Network. When complete, users will be able to claim, buy, sell, and trade wearables for their avatars entirely on Polygon, with no transaction fees.
Wait, no transaction fees? How can that be?
Given the already tiny gas fees provided by Polygon, Decentraland’s dApps will be integrated with Biconomy.io to provide meta-transactions. When you want to conduct a transaction on Polygon, you’ll only have to provide a digital signature via your wallet. Decentraland takes care of the rest.
You can now move your MANA within Matic’s network over to the ethereum’s for zero fees ! Yep, ZERO! Good news for Decentraland’s casino players. And good news for the devs looking to implement micro-transactions and paid games or features in the metaverse !
Any time you conduct a transaction on the main Ethereum blockchain, you have to pay a transaction, or “gas”, fee. This fee is collected by miners who are tasked with committing and confirming your transaction to the Ethereum blockchain. As the number of transactions submitted increases, the network becomes congested and users are forced to pay higher gas fees.
Soon, wearables will also be tradable on the Matic layer
While today’s release adds the ability to transfer assets in Decentraland from Etherum to Polygon, we won’t see the full effects until Decentraland’s Builder and Marketplace have been updated to support transactions on Polygon, which we can expect to see this coming May.
At that point, the wearables marketplace will be open to all creators with new wearables being minted on Polygon’s Matic network, and everything will be very low on fees.
Purchase MANA with a credit card on Transak
Thanks to a new integration with Transak, you can now purchase MANA with a credit card directly from the accounts page by clicking the Buy button. Next, enter the amount of MANA you’d like to purchase in the widget along with your credit card information.
You can even purchase MANA to be deposited directly into your Polygon MANA account.
I have only good things to say about Transak, their support was very fast and helpful in solving the one issue i had trying to buy MANA through them!