What is Polygon (Matic)? How it Works, and the History of its Establishment
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Kanalcoin.com – Talking about cryptocurrencies doesn’t seem to die. Like Polygon (Matic), which was recently ranked 16th in terms of market capitalization (market cap). Of course, you are wondering what Polygon (Matic) is, its benefits, completed projects and long-term prospects.
Before looking at all the information related to the polygon, it is good that you need to know beforehand what a polygon (Matic) is, as well as its meaning and purpose. This understanding helps form a framework consistent with the following discussion.
Then, what is a polygon (Matic)?
If someone asks what Polygon (Matic) is, actually Polygon is a shadow of the blockchain, where developers combine the best feature systems independently. The importance of independent features is flexibility, autonomy and scalability with Ethereum in terms of security, developer experience and interoperability.
So what is Polygon (Matic)? How is it different from polygons? Polygon (Matic) is a platform whose main goal is to provide a framework for building blockchain networks so that they can be interconnected and seamlessly interconnected.
Once you know what Polygon (Matic) is, you also need to understand its properties. Polygon (Matic) is supported by several innovative program features planned, such as ZK roll-up, which combines a large number of off-chain transfers into a single transaction.
The roll-up feature is built on top of Ethereum, so it offers near-instant transactions. The features built into Polygon offer a unique advantage at Ethereum’s scale. In addition, Polygon’s features can also solve the problem of network latency with lower transaction costs.
Polygon offers these benefits not for no reason, but rather to overcome the competition’s various limitations with compatibility with the Ethereum Virtual Machine (EVM). That’s because Polygon’s competitors are comma (DOT) and Cosmos (ATOM), which are also no less visible.
Because of this, Polygon is designed to be flexible and highly scalable. As a result, there have been many blockchain-based projects along the way that have considered compatible blockchains to overcome Ethereum’s limitations.
In this regard, there are several projects that use Polygon (Matic) as a scaling solution. Among the many projects using Polygon are EasyFi (a DeFi platform), Polymarket (a popular prediction marketplace), and Aavegotchi (an NFT collecting game).
How do polygons (Matic) work?
Once you understand what a polygon (Matic) is, the next thing you need to understand is how it works. Simply put, Polygon is a new breakthrough born in the crypto community and used to solve problems in the wider Ethereum network.
Many people ask what is Polygon (Matic) and what are its uses. Polygon (Matic) implemented a protocol for exchanging messages on Ethereum and other networks. The platform also offers an optional modular approach to security as a service.
Polygon (Matic) has several online chains in its network, the main chain of which is the Matic PoS Chain, which adds a layer of protection or proof of contribution to all blockchains launched with Polygon.
To develop this, Polygon takes a multi-pronged approach, namely by proving its own longevity while ensuring Polygon (Matic)’s ability to Ethereum price with a large interconnected blockchain ecosystem.
What is a polygon (Matic) and what are its layers?
After learning what a polygon (Matic) is, you should also know the different levels of polygons. Levels owned by Polygon include:
1. Ethereum layer
The Ethereum layer is a polygon chain where users can securely use the network to execute any critical component. This layer is equipped with a series of smart contracts, such as finality, stake, checkpoints, for interoperable messages.
2. Security layer
This layer is an optional layer that provides a validator as a service to validate any part of the polygon chain (cost-based). This security layer acts as a metachain together with the Ethereum layer, which performs validator management and polygon chain validation.
Additionally, this layer can be used in multiple iterations of the Ethereum blockchain where miners perform validation.
3. Polygon mandatory mesh layer
This layer is a constellation of networks, each serving its own network. In addition, Polygon’s mandatory network layer produces blocks, local consensus, verifies ongoing transactions.
4. Mandatory performance level
This layer is useful for interpreting and executing negotiated transactions contained in the polygon mesh chain. The VM execution environment sublayer and the Execution Logic state transition state function are two sublayers of the mandatory execution layer, which are usually written as Ethereum smart contracts.
What is a polygon (Matic) and what is its history?
In the past we have discussed a lot about what a polygon (Matic) is. However, how did Polygon start and who was the founder? Polygon is actually a decentralized open source project. In addition, Polygon is a global project that has evolved from the successful matic network.
Polygon was originally designed as a scaling solution to bring a large-scale automated network to Ethereum using a custom version of Plasma with a PoS-based sidechain.
Polygon has seen success with ongoing partnerships such as Decentraland (MANA) and MakerDAO (MKR), as well as support from industry leaders such as Coinbase and Binance. This support allows Polygon to expand the technical scope and goals of the project.
Polygon has a CEO in the creative technology architecture field with a lot of experience. The CEO and co-founder serves as the Chief Data Scientist at Housing.com and helped secure its position as India’s #1 search platform. This is Jaynti Kanani.
In founding Polygon, Jaynt was assisted by Sandeep Nailwal, co-founder and former management consultant at Deloitte and former CEO of Scopeweaver.com, India’s largest professional marketplace.
Jaynt is also assisted by Anurag Arjun, co-founder and Chief Product Officer. Arjun is also a veteran project manager who defines and coordinates the automated product plan with his extensive experience in Iris Business Services.
In addition to them, many important people were involved in the founding of Polygon (Matic). Some of them are Mihailo Bjelic, Hudson Jameson, Pete Kim, Anthony Sassano and Ryan Sean. They play an equally important role in the synergy of Polygon (Matic).
What is Polygon (Matic) and its benefits?
In addition to understanding what Polygon (Matic) is, you should also know its differences and advantages. As an independent property that is relatively new, Polygon’s approach needs to be innovative and unique in order to compete with others.
Polygon (Matic) elevates PoS chains, plasma chains, optional shared protection to ZK rolling and optimistic rolling solutions that make Polygon a unique and multi-faceted project.
Another advantage is the key concept of Polygon’s modular approach to Ethereum development. Separate throughput means that Polygon does not require new protocols and token deposits, payments or access rights. Polygons are often the best solution for applications, but they still have high data sensitivity.
Despite all the shortcomings of Polygon and the public confusion with Polygon (Matic), the Polygon team dares to say that Polygon can be a major player and secure a leading position in the rapidly growing and wider Ethereum-based blockchain ecosystem.
How many polygons (Matic) to rotate?
Although many people don’t know what Polygon (Matic) is, actually the circulating number of matic tokens has managed to reach a fantastic amount of about 6.3 billion coins out of a fixed total of 10 billion tokens. This must be a pretty fantastic number, isn’t it?
This was a small overview of what Polygon (Matic) is, how it works and what it is for. Hope the information about what is Polygon (Matic) can be useful for you.