Polygon is a Layer 2 scaling solution for Ethereum, designed to make transactions faster and cheaper while maintaining compatibility with the Ethereum network.
It was originally called Matic Network (launched in 2017) and rebranded to Polygon in 2021, though its token MATIC kept the same name.
Polygon processes transactions off the Ethereum main chain (Layer 2), then commits proofs back to Ethereum — drastically reducing fees and congestion.
Polygon is fully compatible with Ethereum smart contracts, meaning developers can easily migrate their dApps from Ethereum.
Polygon has grown into a multi-chain ecosystem, offering several scaling technologies:
Polygon PoS (Proof-of-Stake sidechain) — the most widely used.
Polygon zkEVM — a zero-knowledge rollup that boosts privacy and scalability.
Polygon Miden and Polygon CDK — developer tools for creating custom blockchains.
Validators stake MATIC tokens to secure the network and validate transactions.
🪙 MATIC Token
Symbol: MATIC
Blockchain: Ethereum (ERC-20)
Total Supply: 10 billion MATIC
Paying transaction fees on the Polygon network.
Polygon is transitioning toward Polygon 2.0, a vision for an interconnected network of zero-knowledge Layer 2 chains. This aims to:
Unify liquidity across multiple chains.
Enhance security and interoperability.
Polygon has become one of the most used Ethereum scaling platforms, powering thousands of dApps including:
Aave, Uniswap, OpenSea, and Decentraland.
Partnerships with companies like Adobe, Starbucks, Reddit, and Nike for NFT or blockchain initiatives.
Possibly migrate from the MATIC token to a new token called $POL (announced in 2023).
