30. August 2023

Polygon (MATIC)

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Formerly known as Matic Network, Polygon is a versatile and powerful blockchain framework designed to enhance the scalability, speed, and interoperability of decentralized applications (DApps). The Polygon blockhain platform is owned by Polygon Technology, a Mumbai-based company founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic. A common misconception about Polygon is that the technology is a single blockchain scalability solution. In reality, Polygon is an Ethereum Virtual Machine (EVM) compatible ecosystem, fitted with an array of blockchain developer tools with Polygon POS being their flagship product.

At its core, Polygon addresses one of the fundamental bottlenecks of many blockchain networks: scalability. While the potential of blockchain is undeniable, traditional networks like Ethereum have struggled with limitations on transaction throughput and high gas fees. Polygon acts as a scalable layer-2 solution, effectively alleviating these issues by providing developers with a platform to build and deploy DApps that can seamlessly interact with the Ethereum network.

One of Polygon's standout features is its commitment to providing a multi-chain ecosystem. Developers can choose from various layer-2 solutions within the Polygon framework, each tailored to specific use cases. These options include the Polygon PoS (Proof of Stake) chain, the PoA (Proof of Authority) chain, and others, allowing developers to select the best-fit solution for their project's needs.

Additional information

• https://polygon.technology