What Is Polygon?
Polygon, Matic Tokens, and Underlying Ecosystem
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.
Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.
Polygon Matic token (MATIC) is a new release of digital asset management system that supports multiple chains. It can scale to unmanaged levels from seven to thirty-two layers in depth. Polygon, formerly called MATIC, is an open-source inter chain scalability platform that provides an infrastructure for building blockchain networks which can interface with each other to form an open-scale distributed ledger. It aims to bring the scalability and adaptability of ethereal’s smart contract platform and the security, compatibility, and fungibility of multiple and coins. It also offers users the ability to easily configure wallet, gateway, and merchant services.
Consensus between multiple independent key mentors is necessary to build a trustworthy ecosystem for future token sales and distribution. Consensus occurs between token creators through a voting process facilitated by a “consensus manager” who controls the voting process via a reward pathway and facilitates trading by users. Rewards are initially rewarded to early stakeholders which help to drive sales and adoption. Other rewards occur when users make payments for services which help to increase network liquidity. Over time, the number of reward pathway nodes will scale to several hundred so that token buyers can effectively control liquidity.
Polygon is currently focused on providing its community of contributors with the tools they need to design, test, and use their token to build decentralized blockchains. As it grows, Polygon will extend its focus to additional uses such as asset management, token settlement, and gaming. It will continue to innovate its open source project and provide the tools necessary for developers, entrepreneurs, and developers to build high quality, secure, and decentralized blockchains. Polygon will continue to define the landscape of the future of decentralized technology. The next step for Polygon is the development of its main gateway product, the Polygon Mobile Asset Management Software (MAP).