Polygon (MATIC)

Polygon (MATIC) is a layer 2 scaling solution for the Ethereum blockchain that aims to improve its scalability and reduce transaction fees. It was launched in 2017 as Matic Network and later rebranded to Polygon in 2021. Polygon achieves its goal by creating parallel sidechains that can process transactions faster and at a lower cost than the main Ethereum chain. These sidechains are connected to the Ethereum mainnet through a set of validators that secure the network and ensure the integrity of transactions. In addition to its scaling solutions, Polygon also provides an ecosystem that supports the development of decentralized applications (dapps) and facilitates the interoperability of different blockchain networks. The growing popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs) has highlighted the need for improved scalability and lower fees on the Ethereum network, making Polygon an attractive alternative for developers and users alike.