Polygon (previously known as Matic Network) is a layer-2 scaling solution for Ethereum that aims to provide faster and cheaper transactions by utilizing a sidechain architecture. It is a cryptocurrency project and ecosystem built around the native token, MATIC.
The Polygon platform offers a range of tools and frameworks to help developers create and deploy Ethereum-compatible blockchain networks, enabling them to harness the advantages of Ethereum's decentralized and secure infrastructure while overcoming its limitations in terms of transaction throughput and cost. The platform also supports various consensus mechanisms and interoperability between different blockchain networks.
In summary, Polygon is a cryptocurrency project that aims to improve the scalability, speed, and affordability of transactions on the Ethereum network through the use of sidechains and other blockchain development tools.