Formerly known as the Matic Network, Polygon is Ethereum’s multi-chain scaling solution launched in 2017.
Scaling solutions etc.
It aims to address some of the scalability and ease of use issues of Ethereum blockchain by providing a framework for creating and connecting multiple sidechains, also known as “polygon chains” polygons. These sidechains are specialized for a variety of use cases and can provide solutions tailored to a specific DAPP.
Additionally, Polygon offers a set of tools and infrastructure that allow developers to create distributed applications (DAPPs), as well as projects that allow Ethereum to be utilized while benefiting from faster transaction speeds and lower fees.
Ethereum compatibility and similarity
Polygon’s architecture allows for easy movement of assets and data between its sidechain and the Ethereum mainnet, ensuring interoperability. Security is guaranteed using Ethereum’s security mechanism.
Additionally, the Polygon POS (Sport of Stake) bridge allows assets to be transferred between Ethereum Mainnet and Pos Sidechain in Polygon.
Many existing Ethereum Dups and projects can seamlessly migrate to polygon sidechains, bridge operations, and benefit from improved scalability and user experience.
Polygon SDK
Polygon offers a Software Development Kit (SDK) that simplifies the process of creating and deploying DAPPs in a sidechain.
Matic and Por Transformations
Matic was originally a native token of Matic Network. Binance Exchange’s IEO (initial replacement product) was released in 2019.
The Matic network was subsequently renamed the Polygon Network. And recently, the Polygon Ecosystem Token (POL) replaced the Matic Token as the new native token for the polygon network. It is currently used for transaction fees, staking and participation in the governance of the platform.
Caution, defi, dapps
Polygonal approaches to improving Ethereum’s scalability and user experience have attracted a lot of attention and have been adopted by various projects in the blockchain space.
Polygon brings together a number of Defi projects and Dapps that utilize the platform’s scalability to provide efficient and cost-effective services to users.
