Polygon

Polygon is a framework for creating interconnected blockchain networks that was previously known as Matic Network.

What is Polygon?

It uses a revolutionary sidechain solution to overcome some of Ethereum's major shortcomings, such as throughput, bad user experience (high speed and delayed transactions), and lack of community control.

How does it work?

The Ethereum layer, security layer, Polygon networks layer, and execution layer are the four layers that make up Polygon's architecture.

The Ethereum layer is essentially a collection of Ethereum-based smart contracts. Transaction finality, staking, and communication between Ethereum and the multiple Polygon chains are all handled by these smart contracts. The security layer operates alongside Ethereum and serves as "validators as a service," allowing chains to benefit from an extra degree of protection. The Ethereum layer and the Security layer are both optional.

There are two required levels beyond that. The first layer is the Polygon networks layer, which is the ecosystem of Polygon-based blockchain networks. Each of these has its own community, which is in charge of local consensus and block production. The second layer is the Execution layer, which is Polygon's implementation of the Ethereum Virtual Machine (EVM), which is used to execute smart contracts.

Use in practice

Polygon is designed to be a whole platform for building interoperable blockchains, rather than just a scaling solution like its predecessor Matic Network, which employs a technology called Plasma to process transactions off-chain before confirming them on the Ethereum main chain.

Developers can use Polygon to establish pre-configured blockchain networks with features tailored to their specific requirements. These may be tweaked further with an increasing number of modules, allowing developers to design sovereign blockchains with more particular capabilities.

How can I earn?

Because of Polygon's arbitrary message transmission features, chains launched on the platform can communicate with one another and with the Ethereum main chain.

Polygon is intended to pave the way for a future in which diverse blockchains operate as networks rather than closed-off silos and private communities.

Its long-term goal is to create an open, borderless society in which consumers may connect with decentralized products and services without going via middlemen or walled gardens. Its goal is to establish a hub into which many blockchains may easily plug in, while also overcoming some of their unique constraints, such as excessive fees, scalability issues, and security concerns.

Website

Visit the official cryptocurrency website. It contains detailed valuable information about the coin and the project. You'll also find answers to frequently asked questions, various support and training tools, or interesting news and articles.

WhitePaper

WhitePaper is a basic informative document that contains a detailed description of a crypto project, its purpose, the idea of its creation, technical specifications, statistics, diagrams, roadmap, and other important facts, including information about the coin and its use and future potential. It is usually created by the founders or developers of a crypto project.