Polygon (blockchain)
Blockchain and cryptocurrency

Polygon (formerly Matic Network) is a blockchain platform which aims to create a multi-chain blockchain system compatible with Ethereum. As with Ethereum, it uses a proof of stake consensus mechanism for processing transactions on-chain. Polygon's native token is POL, an ERC-20 token which allows for compatibility with other Ethereum cryptocurrencies. It is operated by Polygon Labs.
Quick Facts Denominations, Code ...
Polygon is a natively Layer-2 network that uses Ethereum as a base network. In particular, transactions are first validated inside Polygon and then periodically committed in a "checkpoint": a Merkle root of transaction hashes is committed to Ethereum's mainnet by using "Core contracts".
Polygon runs various decentralized applications (dApps) such as Defi, DAOs, and NFTs.
History
The blockchain company Polygon was originally known as Matic Network. The Matic Network was launched in 2017 by four software engineers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. In February 2021, the project was rebranded as Polygon Technology.
In August 2021, Polygon acquired Hermez Network for $250 million. In December 2021, Polygon acquired the Mir blockchain network for 250 million MATIC tokens, with the tokens having a value of around $400 million at the time of the deal.
In December 2021, Polygon disclosed a security vulnerability that resulted in the theft of 801,601 MATIC tokens.
In February 2022, Polygon raised $450 million by selling MATIC tokens in a round led by Sequoia Capital India including Tiger Global and Softbank Vision Fund.
In November 2022, JPMorgan Chase executed its first live trade on a public blockchain, using Polygon and modified Aave.
On December 15, 2022, Donald Trump launched a series of digital art NFTs minted on the Polygon network for sale to the public for $99 USD each.
By February 2023, the blockchain was doing business with large companies such as Starbucks and Mastercard, with Fortune noting it had been relatively unaffected by the 2022 cryptocurrency crash compared to other companies. The Fox Network began working with Polygon on a blockchain project in 2023. TIME in 2023 named Polygon Labs one of the Time100 Most Influential Companies of the year.
In 2023, Polygon co-founder Jaynti Kanani, announced his decision to step back from the daily operations of the project after six years of involvement. In an October 4 post on X, Kanani stated that he plans to focus on "new adventures" while continuing to contribute to Polygon "from the sidelines."
In January 2024, Polygon announced that its community had voted to fund a new "Community Treasury", with about $640 million worth of tokens to fund grants for projects within the Polygon ecosystem.
In February 2024 Polygon Labs laid off 60 employees, or around 19% of its staff.
On the 4th of September 2024, Polygon initiated a migration from the MATIC token to a new updated token called "POL". From the 10th of September 2024, the primary Polygon Network is using POL as a native gas token instead of MATIC. This token switch was instant and required no action.
Technology
Polygon employs a modified proof-of-stake consensus technique, which allows consensus to be reached with every block on the blockchain. (Using standard proof-of-stake, achieving consensus will need processing a large number of blocks to establish consensus.) The proof of stake method requires network participants to stake—agree to not trade or sell—their POL tokens, in exchange for the right to validate Polygon network transactions. Successful validators in the Polygon network are rewarded with POL tokens proportionally to their POL stake. The Polygon network aims to address problems within the Ethereum platform, namely high transaction fees and slow processing speeds.
In January 2024, Polygon announced a new protocol called AggLayer that aims to aggregate zero-knowledge proofs (ZK-proofs) from multiple blockchains and allow developers to connect layer 1 and 2 blockchains to merge them into a single network. According to Polygon Labs, AggLayer aims to provide a seamless user experience comparable to that of the internet, eliminating the need for "cumbersome and frequent bridging" between different chains. As an example, Polygon Labs demonstrated how a user on Ethereum’s layer-2 chain Arbitrum holding USDT could purchase a nonfungible token (NFT) on Polygon’s zkEVM without the need to first bridge USDT to the zkEVM. “From the end-user perspective, this will feel like using a single chain” Polygon Labs stated.
Partnerships
Polygon is the blockchain platform which runs Polymarket, the world's largest prediction market. Polymarket is the first crypto dApp to reach mainstream.
In July 2022, Polygon participated in Disney's 2022 acceleration program to expand into augmented reality, NFTs, and AI.
In October 2022, the Indian Police in Firozabad started using Polygon for reporting crimes.
In January 2023, Polygon partnered with Alethea AI on an "AI Collectibles campaign" for trading AI characters as NFTs on Polygon.
In March 2023, Polygon partnered with Immutable Pty Ltd to integrate Polygon's zkEVM technology into Immutable's blockchain.
In April 2023, Polygon and Google Cloud have formed a multi-year strategic alliance to accelerate the adoption of Polygon protocols, enhancing the development of Web3 products and decentralized applications. Also, in September of the same year, Polygon Labs announced that Google Cloud joined the Polygon proof-of-stake network as a validator.
A 2023 partnership between Polygon and the DraftKings, where the team was allowed to keep all earnings from sale of MATIC, came under scrutiny for potential undisclosed aspects of the deal, which Polygon denied.#Polygon #polydoge #GrayscaleHorizenTrust #Crypto2025Trends #MicroStrategyInNasdaq100

Why is MATIC falling? Why is MATIC struggling?
Even the rebrand from MATIC to POL failed to trigger any upward movement. While the price bounced shortly after the rebrand, it fell significantly in October. After the recent breakdown from a long-term support area, the POL price risks a plunge because of the lack of support.
Analysts predict that MATIC could reach $ 1.79 to $ 4.24 by 2030, and experts predict it could reach minimum and maximum prices of $10.28 and $12.56 by the end of 2030. Other industry analysts have varying opinions on the future price of polygon (MATIC)

#Polygon
$POL

Introduction
As 2024 concludes, I reflect on my enriching journey within the Polygon Hub. Over the past two months, I’ve actively contributed to the ecosystem, earning points and building connections through the Twitter program. This year marked a transformative phase for both Polygon and myself, and I’m excited to share my perspective on its evolution and future potential.

Retrospective: Key Highlights of Polygon in 2024
2024 was a landmark year for Polygon, defined by its transition from $MATIC to $POL. This shift aligned with the broader vision of Polygon 2.0, unifying liquidity, enhancing scalability, and redefining tokenomics and governance. The rollout of POL empowered the community and developers alike, signaling Polygon’s commitment to innovation and inclusivity.

On a personal note, one of my proudest achievements was successfully completing every assigned task without rejection. This milestone solidified my reputation in the Hub and motivated me to continue delivering high-quality contributions to the community.

Looking Ahead: The Future of Polygon
As we approach 2025, the roadmap for Polygon is brimming with exciting developments. The full deployment of AggLayer, widespread adoption of POL, and increasing institutional partnerships will likely drive unprecedented growth. With the maturation of governance models and modular architecture, Polygon is set to remain a leader in the blockchain space.

For contributors like myself, this means greater opportunities to engage with cutting-edge technology, create impactful content, and shape the ecosystem’s evolution.

My Contributions and Goals for 2025
In 2024, my contributions included:

Tweets and Threads: Sharing updates and insights to spark community discussions.Infographics: Simplifying complex topics into simple image visual for a diverse audience.Videos: Highlighting Polygon’s innovations with dynamic, engaging content.
These efforts were driven by a passion for fostering awareness and collaboration within the Hub. As 2025 unfolds, I aim to deepen my engagement by creating even more impactful content and mentoring new contributors to strengthen the community’s foundation.

Personal Takeaway
For me, being part of the Polygon Hub isn’t just about earning POL—it’s about contributing to a collective vision of blockchain’s future. The recognition I’ve received from my efforts has been immensely rewarding, reinforcing my commitment to the ecosystem’s success.

Conclusion
2024 was a year of transformation and growth for Polygon, laying a solid foundation for what promises to be an extraordinary 2025. As I continue to grow within the Hub, I look forward to building, sharing, and contributing to this vibrant ecosystem. Together, we’re shaping an interconnected blockchain future.
#POLYGON #POLYGONHUB

The latest Electric Capital report focused on the developer activity in the crypto space till the year 2024. This report is based on data extracted from millions of code contribution made to blockchain platforms and include data from contributions of several hundreds of developers. It is very focused on topics such as trends within the various diverse developer communities, exciting projects within these communities, and ecosystem expansion.

Out of all the names mentioned in this report, @Polygon definitely stands out. First, let’s discuss the results obtained more thoroughly. $POL

Leading in Asia and South America
#Polygon ranks first for developer activity in Asia and is among the top three in South America. The fact that it is most active in these locations proves how it has developed relations with local developers. This makes Polygon to be ideal for developers across the globe.
Over 1,000 New DevelopersIn this year, over one thousand new developers flocked to Polygon. This growth is in line with indications of the ecosystem’s live-lihood as well as the desire that developers have for resources that the ecosystem presents as well as the flexibility required. Polygon is very much appreciated in the community due to its easy to use infrastructure.
Multichain Structure
The report further comes out clearly to show that a third of developers act across multiple chains. Today it is possible to attend numerous platforms, and Polygon can be considered to be one of the most important ones in the given multichain environment. These developers are expected to coalesce into a more coherent community in the near future, thus providing a better basis for project execution across a variety of chains.Among the Top Innovators
Polygon is now listed among the three leading platforms to support creative projects and is preferred by developers. Such factors as being developed for developers and having a visionary perspective explain this success.

Polygon’s influence in the developer ecosystem is poised to grow even further, promising exciting developments for both its community and the broader blockchain space.

Hello friends,
Polygon, a platform that has become a symbol of innovation and sustainability in the blockchain world, has achieved great success in Electric Capital’s 6th annual developer report. This comprehensive study, prepared with the contributions of 829 people and analyzing 902 million lines of code, provides a developer perspective on blockchain technology for 2024.
By detailing #Polygon ’s achievements, regional and global impact, contributions to the developer community, and innovation leadership, we aim to draw the community’s attention to these significant developments. Let’s examine Polygon’s achievements in the Electric Capital report together.
Regional Successes
According to the Electric Capital report, @Polygon ranked first in Asia and South America. It ranked first in developer share in Asia, solidifying its leadership in the region. It emerged as one of the most influential blockchain projects in South America.
Developer Contributions and Innovations
Polygon’s contributions to the developer community are remarkable. It has continued to grow by attracting over 1,000 new developers to the blockchain space in 2024. These new developers have increased Polygon’s flexibility and accessibility by enabling their projects to be used on multiple chains. $POL has become one of the leading #blockchain projects globally with its innovative projects and technological advancements.
Efforts of Sandeep Nailwal and Team
Polygon’s co-founder Sandeep Nailwal and his team are known for their efforts to promote the widespread adoption of blockchain technology. Their work in perfecting Layer 2 solutions has made Polygon one of the leaders in the industry. Nailwal and his team’s efforts have helped blockchain technology gain wider acceptance and ensured Polygon has a permanent presence in the tech world.
Conclusion
The significant achievements highlighted in the Electric Capital report have been a major source of motivation for the blockchain community. Sharing and disseminating these achievements within the community will increase Polygon’s global recognition. Considering the key points in the report, Polygon’s innovation and contributions to the developer community clearly demonstrate its vital role in the blockchain world.
In summary, these significant achievements in the Electric Capital report have further solidified Polygon’s prominent position in blockchain technology. Sharing these achievements within the community will contribute to Polygon’s wider recognition and adoption. This article aims to highlight the significance of these achievements and draw the community’s attention to these important developments.

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Concerns about potential risks led Polygon to reject the proposal to transfer funds into Morpho, despite the expected annual returns of up to $70 million.
The Polygon community was surprised to reject a $1.3 billion proposal to deploy from the Proof of Stake (PoS) bridge into yield-generating programs on Morpho, an Ethereum-based DeFi platform. This announcement was made on December 17 on Polygon's official social media, leaving many in the cryptocurrency community surprised and concerned.

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Polygon, a leading blockchain platform, continues solidifying its position as a top-tier ecosystem in the crypto landscape. The latest insights from the 2024 Electric Capital Developer Report shed light on its impressive growth, global reach, and developer traction. Here's a breakdown of the key highlights that underscore Polygon’s strategic importance in the blockchain industry.

Global Developer Presence
Polygon is ranked as the #3 blockchain ecosystem in Asia and South America, regions that are now at the forefront of crypto development. With Asia becoming the #1 continent by developer share, accounting for one-third of global crypto developers, Polygon's positioning in this vibrant market signifies its growing influence. Its presence in South America further highlights its expanding appeal in emerging markets, where blockchain adoption is accelerating.
Surging Developer Activity
The report reveals that #Polygon gained over 1,000 new developers in 2024, a testament to its thriving ecosystem. This influx is part of a larger trend of diversification across blockchain ecosystems, as developers increasingly explore use cases beyond traditional boundaries. With 1 in 3 crypto developers now working on multiple chains, Polygon’s compatibility with Ethereum Virtual Machine (EVM) standards makes it a hub for multi-chain innovation.
The Social Mining Hub: Engaging Communities
One of Polygon's standout initiatives is the #SocialMining Hub, which has proven instrumental in driving user engagement and interaction. The Polygon Hub, utilized by Social Miners at #DAOLabs , empowers content creators and contributors to actively support the ecosystem while earning rewards for their efforts. This platform has become a central point of interaction for individuals looking to participate in and promote Polygon’s growth. Check for the link at the end of this article.
For content creators, the Social Mining Hub offers a unique opportunity to showcase their skills, build their networks, and earn tangible rewards. By enabling creators to directly contribute to ecosystem development through social mining activities, the hub fosters a sense of community ownership and innovation. This approach not only boosts user participation but also highlights the accessibility and inclusivity of the Polygon blockchain.
Innovation and Growth in Full-Time Development
Polygon ranks among the top 10 fastest-growing ecosystems by full-time developer growth between Q3 2023 and Q4 2024. This metric reflects the commitment of developers who are driving sustained innovation within the platform. Full-time developers are critical as they contribute steady, high-quality work that propels ecosystem advancements.
EVM Network Effects and Multi-Chain Dynamics
The report highlights that 74% of multi-chain developers work on EVM-compatible chains, showcasing the network effects of Ethereum’s ecosystem. Polygon, as a leading EVM chain, benefits from this dynamic, drawing developers who are keen to leverage its scalability, low transaction costs, and robust infrastructure. The percentage of EVM cross-chain deployers has quadrupled since 2021, underscoring the growing interconnectivity of blockchain networks and Polygon’s strategic role within this web.
Driving Global Innovation
Polygon's innovative capabilities have earned it a spot among the top three ecosystems for driving technological progress. Its robust development framework and focus on scalability have attracted projects and developers looking to push the boundaries of decentralized applications (dApps). From DeFi to NFTs, Polygon continues to serve as a launchpad for cutting-edge solutions.
The Bigger Picture
As crypto development becomes increasingly global, with Asia leading and regions like South America and India making significant strides, Polygon is well-positioned to capitalize on this momentum. India, which onboarded 17% of all new crypto developers in 2024, is a key market where Polygon’s growth aligns with broader industry trends.
In a rapidly evolving blockchain landscape, Polygon’s adaptability, developer-friendly environment, and strategic global positioning make it a cornerstone of the decentralized future. With initiatives like the Social Mining Hub engaging communities and empowering content creators, Polygon stands out as a blockchain ecosystem that not only drives technological progress but also fosters human-centric innovation. As the ecosystem continues to grow and innovate, it is poised to remain a pivotal player in shaping the trajectory of blockchain technology.
Reference Links
https://www.chaincatcher.com/en/article/2156880https://x.com/0xPolygon/status/1867627972330397828https://docs.daolabs.com

#BTCNextMove $POL $BTC