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
In this blog, let's learn how to configure polygon on metamask.
Before proceeding further, We need to create a metamask wallet. If you do not have one, create it by following this blog.
After you created, the wallet will look like below.
Click on the Ethereum mainnet at the top right corner and expand it. At the bottom, click on Custom RPC. Now you should see a screen just like below one.
Now, enter the below details for mainnet and Hit Save.
Polygon mainnet Settings
Network Name: Polygon Mainnet
New RPC URL: https://rpc-mainnet.maticvigil.com/
Chain ID: 137
Symbol: MATIC
Block Explorer URL: https://polygonscan.com/
Polygon Testnet Settings
Network Name: Polygon Mumbai
New RPC URL: https://rpc-mumbai.maticvigil.com/
Chain ID: 80001
Symbol: MATIC
Block Explorer URL: https://mumbai.polygonscan.com/
You can transfer BEP-20 MATIC to polygon network using binance. Otherwise, ERC-20 tokens will be transferred on Ethereum mainnet and BEP-20 tokens transferred on Binance smart chain.
More resources
Matic Faucet for testnet - https://faucet.matic.network/
Polygon papers - https://polygon.technology/papers/
Polygon docs - https://docs.matic.network/
Polygon Dapps
Resources
https://polygon.technology/
https://docs.matic.network/
https://coinmarketcap.com/currencies/polygon/