Polygon (formerly Matic Network) is a layer-2 scaling solution for Ethereum that enables faster and cheaper transactions. It does this by using a network of interconnected blockchains called "sidechains". MATIC is the native token of the Polygon network and is used to pay transaction fees, stake validators, and participate in governance.
Polygon is a popular choice for developers who want to build decentralized applications (dApps) on Ethereum. It offers a number of advantages over other scaling solutions, including:
- Scalability: Polygon can process thousands of transactions per second, compared to Ethereum's current capacity of around 15 transactions per second.
- Cost-effectiveness: Polygon's transaction fees are much lower than Ethereum's, making it more affordable for users.
- Security: Polygon is secured by Ethereum's network, which is one of the most secure blockchains in the world.
If you are looking for a scalable, cost-effective, and secure way to build dApps on Ethereum, then Polygon is a good option to consider.
Here are some additional things to note about Polygon:
- It is a flexible platform that can be used to build a variety of dApps, including games, DeFi applications, and supply chain management systems.
- It is open source and community-driven, which means that anyone can contribute to its development.
- It is constantly being updated and improved, with new features being added all the time.
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