Polygon Coin is a Layer 2 scaling solution that aims to resolve the problems of scalability on many blockchains. It combines the Plasma Framework and the proof-of-stake blockchain architecture and allows for the creation of globally available decentralized financial applications on a single foundational blockchain. Polygon is built on proof-of-stake checkpoints that run through the Ethereum main-chain, and its sidechains can achieve up to 65,536 transactions per block. The $MATIC token is the native token of Polygon, and it is used for payment services on the network and as a settlement currency between users who operate within the Polygon ecosystem. Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain, and it intends to extend support for additional basechains in the future to become an interoperable decentralized Layer 2 blockchain platform.
Polygon (MATIC)