What Is Polygon Crypto?

Polygon previously known as MATIC network, is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. This is an open-source technology provides developers with the tools to readily deploy a stand-alone network or a secure sidechain that can optionally leverage the security of the Ethereum network via smart contracts. 

In February 2021, Ethereum layer 2 scaling solution Matic Network rebranded as Polygon—an interoperable blockchain scaling framework.

Rather than being a simple scaling solution like its predecessor Matic Network—which uses a technology known as Plasma to process transactions off-chain before finalizing them on the Ethereum main chain—Polygon is designed to be an entire platform designed for launching interoperable blockchains.

Through Polygon, developers can launch preset blockchain networks with attributes tailored to their requirements. With the growing range of modules, These can be further customized, which allow developers to create sovereign blockchains with more specific functionality.

How Does Polygon(Matic) Work?

Polygon validators periodically perform checkpoints against the Ethereum main-chain. This process provides a mechanism to settle any transaction disputes that occur on the sidechain through a cryptographic proof. 

With this protocol, users can transfer tokens across Matic without incurring third-party risks and market liquidity limitations. Tokens that leave the Ethereum network are locked and represented as newly minted pegged tokens on the Matic network(1:1). The pegged tokens are burned when the user moves back to the Ethereum network.

The security provided by the Ethereum network is important to how Polygon functions, but it’s ability to maintain security while allowing for scalability is what makes it interesting. Unlike the proof-of-work consensus protocol Ethereum uses today, which is costly in terms of computing resources, Polygon already uses the proof-of-stake mechanism Ethereum 2.0 aims to achieve sometime next year. 

No doubt proof-of-stake consensus mechanism is there in Polygon but it also uses an architecture popularized by Cosmos, called Heimdall. In traditional proof-of-work blockchains, where any participant (miner) can validate transactions and produce blocks, Heimdall randomly chooses block producers randomly chosen from the proof-of-stake validators in the network.

This dual-consensus architecture allows for decentralization with a high transaction throughput, resulting in scalability of the network. Internal test networks have seen up to 7,000 transactions per second (TPS) on a single sidechain, which dwarfs the current throughput of the Ethernet mainnet of 14 TPS.

Who Built The Polygon?

from all over the world, developers were involved. Team has very clear vision and doesn't believe in hierarchy system rather they believe to put the contribution by anyone. 

This Is The Core Team: 

This Is The Advisory Board: 

Is Polygon A Good Crypto To Buy?

There is always risk in cryptocurrency and same goes true for Polygon as well. It has potential, and it could be worth a reasonable investment if you like the direction it's going. You should not forget the golden rule, never invest more than which you cannot afford to lose. Always stay in touch with the updates from the company. 


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