What is Polygon (Matic)?

What is Polygon (Matic)?

The test network of the platform earned in October 2017 called Matic Network.

The project has four co -founders:

  • CEO of Polygon Network Jaini Ganves – a specialist in data processing and analysis;
  • Executive Director Sandip Nailval – Management Consultant;
  • Director of the production control department Anurag Arjun – Product Manager;
  • Mihailo Bjeli – developer.

The creators see in Polygon a means of solving the problems of scaling and increasing the efficiency of blockchain networks.

What is Polygon (Matic)?

Polygon Hermez built using ZK-Rollups technology based on Ethereum. An open source product processes 2000 transactions per second, but is not compatible with EVM. Uses a decentralized control model.

Polygon Zero This is L2-solution designed to create decentralized applications using recursive evidence of ZK-Snark. The algorithm increases network throughput due to parallel data processing. Evidence for all transactions is aggregated in one. To generate generalized evidence, Snark is planned to use the Plonky2 algorithm.

Polygon Miden uses ZK-STARKS evidence. The solution requires large computational costs, but it is an EVM-compatible. Developers can program in Solidity, Move and Vyper.

Polygon NightFall This is a decision aimed at confidentiality. The target audience of the network is a corporate segment.

Polygon Avail allows you to work with incomplete data. The solution makes it possible to create a network with “light” nodes loading a random set of information from the blockchain. Safety and data recording are outsourced Avail, allowing them to store them outside the side.

Polygon Edge This is an open source development environment that allows you to create L2-solutions and sides. The latter use a separate set of validators. Edge includes modules for working with blockchain, consensus location and special libraries for architecture development. Edge supports POS and Proof-OF-Abority algorithms.

What are the advantages of Polygon?

Polygon is an ecosystem that includes more than 7,000 decentralized applications in the field of Defi, Metavselnaya, Games and NFT. On the platform, L2-solutions using ZK-Rollups technology are implemented. Polygon architecture allows developers offers a large set https://gagarin.news/news/women-in-srypto-who-and-how-has-influenced-the-crypto-world/ of solutions, which is suitable for various scenarios of application.

For Defi, algorithms that provide high safety are preferred. They involve the use of Ethereum as a basic layer. For startups, it is most advisable to apply a simple and inexpensive solution. Then you can choose a pool of validators, which is used jointly by several projects.

Polygon allows you to create special applications focused on quick operations. They use blockchain with the minimum time to create a block. The platform allows applications to interact at different levels and move between them.

The advantage of Polygon networks is EVM compensation. The project was built on top of Ethereum, which allows you to use its resources and community.

How the Polygon Corporate Fund works?

Polygon development is carried out thanks to a special investment fund. Priority support is provided to projects on the basis of the platform.

At the moment, Polygon has four investment partners, each of whom manages joint capital:

  • Wintermute provides listing tokens on exchanges and business development;
  • 776 specializes in the creation of Web3 applications;
  • Outlier Ventures This is an accelerator of projects on the platform;
  • Stablenode provides interaction with NOD operators, staying and asset management.

There is also a separate fund that provides support for decisions on the platform. Its administration has $ 100 million, of which $ 15 million are invested in 50 projects.

The Polygon Studios unit has a significant capital, the purpose of which is to develop blockchain-games and NFT projects. The fund interacts with 500 studios, which allowed to attract 100,000 gamers. Polygon Studios collaborates with The Sandbox, DecentRaland projects, as well as developers Draftkings, Electronic Arts and Atari.

How Polygon develops?

The PolyGon team is focused on the development of products and the search for partners and solutions for integration. Many large decentralized projects are deployed on Polygon, for example AAVE, Curve and Sushiswap. In December 2021, a decentralized Uniswap decentralized exchange was launched on the platform.

Polygon plans to use a centralized management model, maintaining the autonomy of each team. In January 2022, the developers added a mechanism for burning part of transaction commissions by analogy with Ethereum.

At the time of writing the ecosystem, according to Defi Llama, is $ 2.9 billion. In October 2021, the number of active addresses Polygon exceeded the corresponding indicator of the Ethereum network. At the time of writing, the number of addresses is 142 million, and the capacity of the blockchain exceeds 4 million transactions per day.

More than 50 digital assets were released on the network, including the leading USDT, USDC and DAI stabilcoins.

In May 2021, billionaire Mark Kyuban invested funds in Polygon, but the amount of investment is not disclosed. In February 2022, the platform attracted $ 450 million from Sequoia Capital India and other investors.

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