Polygon (MATIC), formerly known as the Matic Network, is a layer 2 scaling solution that enhances the Ethereum blockchain by increasing transaction throughput and reducing costs. It aims to support the widespread deployment and use of Ethereum-based decentralized applications (DApps) by functioning as an add-on that improves Ethereum’s size, capacity, security, and efficiency.
Polygon operates by creating sidechains that handle transactions separately before integrating them with the main Ethereum chain, thus alleviating the load on Ethereum. It employs various sidechain solutions such as plasma chains, which batch transactions for the Ethereum blockchain, ZK-Rollups, which combine multiple transactions into one, and optimistic roll-ups, which scale smart contracts efficiently.
Designed to facilitate the development of DApps, services, and platforms on Ethereum without the drawbacks of high fees or slow speeds, Polygon’s ecosystem is particularly useful for decentralized finance (DeFi) applications, blockchain-based games, and non-fungible token (NFT) marketplaces.
