Founded in 2017, Polygon (also called Matic network) is a protocol and a framework for constructing and connecting Ethereum-compatible blockchain networks. The organization was founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The India-based platform is an open-source project built by an international, decentralized team of contributors.
Polygon (formerly Matic network) is a platform for Ethereum scaling and infrastructure improvement. Its central element is Polygon SDK, a modular, bendy framework that helps build more than one type of application. The $MATIC token will continue to exist and could play an increasingly essential function, securing the system and allowing governance.
Polygon (previously Matic network) is a Layer 2 scaling answer subsidized by Binance and Coinbase. The Plasma framework used by Polygon, proposed by the co-founder of Ethereum, Vitalik Buterin, permits the execution of scalable and autonomous smart contracts.
With Polygon, new features are being constructed around the proven technology to expand the potential to cater to the diverse needs of the developer ecosystem. Polygon will maintain to develop the core technology so it would scale to a larger ecosystem.
Polygon makes 65,000 transactions per second, on a single side chain, along with a block confirmation time of fewer than two seconds. The framework lets in for the creation of globally available decentralized financial applications on a single foundational blockchain.
The Plasma framework gives Polygon the ability to a vast number of decentralized applications on their infrastructure without experiencing the regular drawbacks common on proof-of-work blockchains. So far, Polygon has attracted extra than 50 D-Apps to its PoS-secured Ethereum sidechain.