Polygon, formerly referred to as the Matic Network, is a platform for developing and connecting Ethereum-viable blockchain networks. The project seeks to provide significant scale to the Ethereum blockchain. Polygon utilizes an adapted version of the Plasma framework with Layer 2(L2) side chains based on the Proof-of-Stake (POS) consensus mechanism. These side chains refer to blockchains running alongside the main Ethereum blockchain. Polygon seeks to provide cheaper and faster transactions on Ethereum. The network has already secured a spot among the top 15 cryptocurrencies projects today.
The Polygon network offers solutions to some of the problems that plague Ethereum currently. These challenges include low transaction per second (TPS), high fees, and poor user experience. Polygon's sidechain operates like any other PoS blockchain. It has a token, structure, local Dapps, validator nodes, and client nodes similar to other blockchain networks. However, the Polygon network's exchanges are clustered and settled through the Ethereum main blockchain. Polygon has adapted a Layer 2 network (The Plasma framework) into an interoperable blockchain network that's Ethereum-viable. This means users can develop Ethereum-compatible Dapps as sidechains using Plasma Chains, zk-Rollups, and Optimistic Rollups and connect them to the main blockchain. Polygon is essentially an off-chain solution. Its architecture comprises four layers: the Ethereum layer, the Polygon network layer, a security layer, and an execution layer. It helps eliminate or lessen components with evaluation power from the main blockchain before their execution on sidechains (bundles transaction batches, confirms them, and returns data to the main blockchain). This mechanism develops throughput on the main blockchain and spreads evaluating proficiency across its network. Based on this mechanism, one polygon sidechain can theoretically manage 216 transactions per block. This may translate to millions of transactions across multiple chains in the future.
Polygon Network Scores Telecom Giant Deutsche Telekom As Validator
German telecommunications giant Deutsche Telekom has announced its support for the Polygon Blockchain infrastructure, becoming a validator on the Poly
Polygon (MATIC) Network Growth Metric Forms Bullish Divergence
On-chain data shows the Polygon network growth has been rising while the price has consolidated, a divergence that may be bullish for the price. Polyg
Polygon Launches zkEVM Mainnet Beta, Will It Reduce Costs Of Ethereum Transactions?
Polygon Labs has recently made a major announcement that is set to impact the Ethereum network’s future positively. The protocol has launched Polygon
Ex-Ethereum Foundation Developer Joins Polygon
Hudson Jameson, a core developer liaison who previously worked with the Ethereum Foundation, the non-profit organization behind the world’s largest sm
Salesforce Teams Up With Polygon For New NFT Management Platform
When it comes to SaaS companies, Salesforce is the creme of the crop. The CRM software firm focuses on a suite of tools that standardizes customer eng
Polygon Down Another 6%, Gets Flipped By Dogecoin In Market Cap
Polygon has declined by 6% during the past day as whales have shown signs of selling. The asset has also been flipped by Dogecoin in market cap. Polyg
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