Polygon (MATIC) is an interoperability and scaling platform for building Ethereum compatible blockchains. Polygon’s native token is MATIC. Polygon, formerly Matic, was founded in 2017 by blockchain developers Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. The protocol was renamed Polygon in February 2021.
Polygon is a subsidiary blockchain and operates completely independently of the Ethereum network. It has its own nodes and block producers. It is an Ethereum-based platform that is easy to use. Since the infrastructure it uses is Ethereum, it benefits from the positive developments of Ethereum. Again, thanks to the Ethereum infrastructure, it maintains a reliable operation.
One of the reasons for Polygon’s debut is to put an end to transaction complexity. It also facilitates Decentralized Finance (DeFi) applications and the Blockchain ecosystem. Polygon (MATIC) uses the Proof-of-Stake Commit Chain mechanism and Plasma resolution methods.
The most important feature of Polygon is that instead of updating the layers in the blockchain network, it progresses by creating a second layer. Today, decentralized applications are not sufficient for user-oriented scaling systems. The most important advantage of Polygon is that it solves the scalability problem and is one of the first configurations that accelerates the operations.
Transaction speeds are much faster than Ethereum, thanks to the Plasma Framework. Speed and low transaction fees are among the advantages of the project. The lack of a mobile application can be seen as a disadvantage.
By removing the technological and ideological distinctions that separate most blockchains today, Polygon envisions a world where different blockchains can freely and easily exchange value and information. ‘We will do our best to effortlessly integrate you into this new and better world.’ The phrase confirms this idea and is quite impressive.
Polygon coin has been listed on many cryptocurrency exchanges since its launch. Exchanges where Polygon coin is listed are: Binance, Coinbase, KuCoin, Huobi Globa, Gate.io, Kraken, Bybit, Uniswap. You can buy, sell, stake or swap MATIC on these platforms.
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