Polygon (MATIC)

The Ethereum blockchain is slow and costly. Polygon has a bunch of products and services to solve this problem.

The Ethereum blockchain is slow and costly. Polygon has a bunch of products and services to solve this problem.

Polygon's software development kit enables the building of Ethereum sidechains - blockchains linked to Ethereum via a two-way peg. These sidechains are of multiple types:

  • Bundling transactions into blocks which are batched into a single submission to the Ethereum blockchain (Plasma Chains)
  • Allowing multiple transfers to be bundled into a single transaction (zk-Rollups)
  • Plasma Chains which also scale Ethereum smart contracts (Optimistic Rollups)

MATIC is Polygon's native token and has the following uses:

  • pay for transaction fees in the network,
  • be the unit of payment and settlement in the Polygon ecosystem,
  • power the Polygon proof-of-stake sidechain

Consensus mechanism:

MATIC is an Ethereum ERC-20 token. Polygon sidechains are Proof-of-Stake.

Wallets

The popular wallets include Trust Wallet and Metamask.

Useful links

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