What is Polygon?
Polygon, formerly known as Matic Network, is a platform designed to provide scalability solutions for Ethereum and other blockchain networks. Its goal is to create a multi-chain ecosystem compatible with Ethereum, enabling developers to easily build and deploy decentralized applications (dApps) with improved performance and lower costs. Polygon uses a proof-of-stake (PoS) consensus mechanism to process transactions efficiently.
Whitepaper: Polygon Whitepaper
How does Polygon work?
Polygon functions as a layer-2 solution operating on top of the Ethereum blockchain. It leverages sidechains and other scalability techniques to process transactions off the main chain, resulting in faster transaction times and lower costs. The PoS consensus mechanism requires validators to stake POL tokens to validate transactions and secure the network. This fosters a decentralized and secure infrastructure.
The token
Abbreviation: POL (formerly MATIC)
Category: Platform Token
Blockchain: Polygon
Protocol: Proof-of-Stake (PoS)
Launch date: 2017
The technology behind Polygon
Polygon provides a flexible and scalable infrastructure by using various technologies, including sidechains, rollups, and a modular framework for building dApps. This approach allows developers to choose the solutions that best fit their specific needs while benefiting from the security and interoperability of the Ethereum ecosystem.
The Polygon ecosystem
The Polygon ecosystem is extensive and includes a wide range of dApps, from DeFi protocols to NFT marketplaces. Thanks to its compatibility with Ethereum, developers can easily migrate their existing applications to Polygon, which has led to a growing community and a diverse offering of services and products within the network.
Who is the founder of Polygon?
Polygon was founded in 2017 by four software engineers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The team aimed to address Ethereum’s scalability issues and create a more user-friendly platform for dApp development.
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Cryptocurrencies, waaronder Polygon (POL), zijn volatiel en brengen risico's met zich mee. De waarde van POL kan sterk fluctueren en investeringen kunnen leiden tot financiële verliezen. Doe altijd uw eigen onderzoek en investeer alleen geld dat u bereid bent te verliezen.
Raadpleeg voor meer informatie het cryptoactivawitboek waarin informatie is opgenomen over de aanbieder, informatie over het cryptoactivum, informatie over de risico’s en informatie over de impact van de asset op het klimaat; https://polygon.technology/
Whitepaper: Polygon Whitepaper
The BTC Direct disclaimer van be found here: https://btcdirect.eu/en-eu/disclaimer