Polygon is a cutting-edge Ethereum scaling solution that revolutionizes transaction efficiency by providing lightning-fast transaction speeds and remarkably low transaction fees.
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Polygon, formerly known as Matic Network, was established in 2017 by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. It serves as a scaling solution for Ethereum, providing developers with the advantages of low transaction fees and rapid transaction processing speeds.
Utilizing a modified proof-of-stake consensus mechanism, Polygon enables consensus with each block. To validate transactions on the Polygon network, participants are required to stake MATIC, the native token of Polygon. Validators who exhibit proper behavior are rewarded with MATIC tokens.
Polygon has garnered attention from prominent web2 brands such as Starbucks, Reddit, and Coca-Cola, who have become notable customers. Additionally, leading Web3 companies like OpenSea and Magic Eden have also expressed their support for Polygon. Build your own Polygon dapps with Moralis’ Polygon API.
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