Polygon

What’s Polygon?

Polygon, formerly Matic Network, pioneers Ethereum scaling with a user-friendly platform enhancing blockchain scalability. At its core, the Polygon SDK empowers various applications, from rollup chains to tailored standalone chains. Leveraging Plasma Framework and proof-of-stake, Polygon transforms Ethereum into a secure multichain system backed by industry leaders. The $MATIC holds sway, governing and securing the network. Through ongoing development, Polygon aims to provide a seamless dApp environment, shaping the future of blockchain.

Founders of Polygon

Polygon embarked on its journey in October 2017, spearheaded by a trio of visionary founders: Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Drawing from diverse backgrounds in blockchain development, entrepreneurship, and product management, the founders brought a wealth of expertise to the project. Jaynti Kanani is renowned for his contributions to implementing Web3, Plasma, and the WalletConnect protocol within the Ethereum ecosystem. 

What are the advantages of Polygon?

Polygon distinguishes itself as an L2 scaling solution, prioritizing the improvement of scalability and facilitating immediate blockchain transactions while maintaining the integrity of the underlying blockchain layer. Implementing a customized Plasma framework and proof-of-stake checkpoints within Ethereum’s main chain, Polygon’s sidechains process up to 65,536 transactions per block, supporting diverse DeFi protocols.

How Is It Secured?

Securing Polygon involves a multifaceted strategy, primarily focused on its PoS consensus and network validators. Validators stake MATIC, participate in PoS, and earn rewards. This efficient model incentivizes MATIC holders to stake tokens for passive income. Users can delegate tokens to validators, earning rewards without direct involvement. Block producers at the layer enhance decentralization and finalize transactions through checkpoints and fraud-proof mechanisms. This security framework ensures Polygon’s integrity, safeguarding user assets and fostering trust.

Where Can You Buy Polygon?

MATIC, esteemed for its significant contributions to the Ethereum ecosystem, enjoys widespread availability across leading online exchanges specializing in decentralized finance (DeFi). Among the prominent platforms facilitating the buying, selling, and trading of MATIC are Binance, renowned for its extensive range of cryptocurrencies and user-friendly interface, and Coinbase Pro, a trusted exchange offering advanced trading features to institutional and professional traders. Additionally, MATIC is accessible on Huobi Global, a globally recognized exchange renowned for its liquidity and security measures, as well as KuCoin, a popular choice among traders for its diverse selection of digital assets and competitive trading fees. 

What’s next on Polygon?

The evolution of the network unfolds through the debut of the AggLayer, signaling a significant transition toward a unified and highly scalable Web3 ecosystem. Tackling the prevailing issues of fragmentation and scalability bottlenecks in blockchain networks, Polygon Labs spearheads the AggLayer initiative, drawing parallels to the transformative impact of TCP/IP on the internet. This innovative protocol seamlessly merges ZK-secured L1 and L2 chains, amalgamating the advantages of integrated and modular architectures to form a cohesive network of interconnected chains that operate as a cohesive unit. By aggregating ZK proofs from interconnected chains, this decentralized protocol ensures the security of near-instant cross-chain transactions.