What Token Type Is ETH On The Polygon Network?
I am looking to work with ETH tokens on the Polygon network. My aim is to build a simple payment splitting application. Primarily to split royalties from Opensea. The issue I have come across is that Opensea doesn't seem to pay royalties in Matic token, instead, royalties are paid in ETH (plus other tokens).
I understand how to handle the network native, Matic, as well as ERC20 tokens. My main question is, what token type is ETH on the Polygon network? Is it an ERC20 (or similar) used to represent ETH on Polygon or does it have a special token type and privileges by virtue of Polygon being a layer two solution for Ethereum?
I'm sorry if this is a basic question, I tried to find answers online but because of the keywords all of the results were about bridging ETH to Polygon.
Answer
Opensea uses WETH token on Polygon, which is an ERC-20 token representing the Ethereum mainnet ETH.
Please note, the "purple" Polygon ETH you see on OpenSea, is actually WETH (Wrapped Ether) on the blockchain level of Polygon.
Source: https://support.opensea.io/hc/en-us/articles/4403264773523-How-do-I-find-my-funds-on-Polygon-
Related Questions
- → In a NodeJS Blockchain, does this code create a basic peer to peer blockchain that checks the previous block's hash?
- → How to mine 1st blocks after genesis (PIVX fork)?
- → Aion Faucet for Test Coins
- → How to run the Aion Kernel Script
- → How should i start learning code of any cryptocurrency?
- → Can I query Hyperledger Fabric ledger or update ledger without chaincode in peer?
- → Getting Bitcoin's block number in a specific date and hour?
- → How do you create a 12 or 24 mnemonics code for multiple cryptocurrencies (ETH, BTC and so on..)
- → Can Hyperledger Fabric Be Used To Create A Tradable Cryptocurrency?
- → Are "unconfirmed transactions" of a blockchain's memory pool spread over nodes?
- → How to receive only the transactions about particular set of addresses from blockchain without full syncing?
- → Detect if an IP address is running a Bitcoin node
- → What if a block size limit in a certain blockchain is exceeded and a new block isn't yet created?