What is Polygon?
Polygon (MATIC) is a layer 2 scaling solution that was designed to enhance the Ethereum blockchain by providing higher transaction throughput and lower transaction costs. Formerly known as the Matic Network, Polygon aims to create the infrastructure necessary to support Ethereum-based decentralized applications (DApps) at scale.
Polygon functions as an add-on to the Ethereum blockchain, using various scaling solutions to increase the capacity, security, size, and efficiency of the Ethereum network. It does this through the use of sidechains, which are separate chains that run alongside the main Ethereum blockchain. Polygon integrates multiple sidechain solutions, such as plasma chains, ZK-Rollups, and optimistic roll-ups, which all help to reduce the load on the main Ethereum chain.
The Polygon ecosystem is designed to enable users to create DApps, platforms, and services on Ethereum without having to deal with high fees or slow transaction speeds. It has a variety of use cases, including decentralized finance (DeFi) applications, blockchain-based games, and non-fungible token (NFT) marketplaces. The price of MATIC is updated in real-time on Kriptoks.
Overall, Polygon is a layer 2 scaling solution that aims to improve the Ethereum blockchain by providing faster and cheaper transactions. Its use of sidechains and various scaling solutions allows it to support a wide range of DApps, platforms, and services on Ethereum.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.Try for Free