Polygon is an infrastructure that allows scalability to the Ethereum network ($ETH ), the second largest cryptocurrency in the world. It works in parallel to an existing blockchain network, rather than using its own. In this case, it is Ethereum, which is known for hosting several decentralized applications (DApps) and smart contracts, but which also faces problems with congestion, slowness and high transaction fees.
Polygon's solution is to create multiple side chains that connect to Ethereum but operate independently and faster. This way, users can choose which chain they want to run their DApps on, without losing the security and interoperability of Ethereum. Additionally, Polygon offers compatibility with the Ethereum Virtual Machine (EVM), which means developers can use the same tools and languages they are already accustomed to.
Polygon uses a consensus mechanism called proof of stake (PoS), which is more efficient and environmentally friendly than the proof of work (PoW) currently used by Ethereum. PoS requires network participants to lock a certain amount of tokens to validate transactions and receive rewards. Polygon's native token is MATIC, which is used to pay transaction fees, participate in network governance and delegate to validators.
Polygon has already attracted more than 50 DApps to its infrastructure, including decentralized finance (DeFi), gaming, digital art and identity platforms. Some examples are Aave, SushiSwap, Decentraland, OpenSea and Unstoppable Domains. Polygon is also developing new technologies such as zkEVM, a rollup that uses zero-knowledge (ZK) proofs to increase the privacy and scalability of Ethereum.
Polygon is seen as one of the most promising and innovative crypto networks on the market, with great potential for growth and adoption. Its $MATIC token has already appreciated more than 10,000% since the beginning of 2021, and its market capitalization is around $10 billion. Polygon has the support of big names in the sector, such as Binance, Coinbase, Mark Cuban and Vitalik Buterin, the co-founder of Ethereum.
Polygon's mission is to make Ethereum the value layer of the internet, allowing anyone to create and use decentralized applications easily, quickly and cheaply. Polygon wants to be the bridge between Ethereum and the real world, solving the scalability and infrastructure problems that limit its potential.
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