Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. It provides scalable solutions on top of Ethereum multiple side chains ecosystem. It is also known as layer 2 scaling solution as it provides scalability on the top of ethereum blockchain.
Polygon solves pain points associated with Blockchains, like high gas fees and slow speeds, without sacrificing on security.
Ethereum blockchain has its own share of problems for Decentralized application developments(Dapps) such as
- Poor UX
- Low Throughput
- No sovereignty (shared throughput/clogging risk, tech stack not customizable, governance dependence)
These problems introduces challenges and there is no framework to address these. So polygon was created as a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.
MATIC is the native currency of the polygon ecosystem with ATH value of $2.62 dollars and market cap of $6 billion. More about the token performance is found here on coinmarketcap.
Polygon Features
- Scalability
- Ethereum compatability
- User Experience
- Developer Experience
- Modularity
- Security