Polygon (formerly known as Matic Network) is an Ethereum-compatible platform that provides developers with a fast and scalable platform for building decentralized applications. It uses a combination of Proof of Stake (PoS) and sharding technology to increase the transaction throughput and reduce the cost of transactions.

Polygon aims to address the scalability issues faced by Ethereum and provide a more accessible platform for developers to build on. It supports the Ethereum Virtual Machine (EVM) and is fully compatible with Ethereum, making it easier for developers to transition from Ethereum to Polygon without having to rewrite their code.

Polygon has been growing rapidly in popularity, with a growing number of decentralized applications and decentralized finance (DeFi) projects built on its network. The platform has also received support from a number of large companies and investment funds, including Binance and Coinbase.

Overall, Polygon is an exciting development in the cryptocurrency space, offering a more scalable and accessible platform for decentralized applications and DeFi projects. It remains to be seen how the platform will evolve in the future, but it is certainly a platform worth keeping an eye on.

Translate »